Industry Briefs

Cybersecurity is a critical function at any wealth management firm, and at a firm as large as Advisor Group, with six subsidiary firms and well over 10,000 financial advisors nationwide, protecting sensitive or confidential data is no small task.

Just before March 2020, the financial advisor recruiting marketplace looked unchanging and predictable, at least for independent dual registrant firms.

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If there was ever a time for wealth management firms to build additional resources into their upcoming annual cybersecurity budgets, it’s now.

Cyber-attacks generally continue to rise as hackers from around the world grow bolder and more sophisticated, and though it has been a common tactic for years, ransomware seems to be having a moment in recent months.

he fintech space is increasingly attracting well-established C-suite leaders from wealth management firms.  And the recent move by Susan Theder, the outgoing CMO of Advisor Group, to become Chief Marketing and Experience Officer at FMG Suite, the venture capital-backed provider of digital marketing solutions to wealth management and insurance firms, fits within this budding trend.

Sarson Funds has announced the start of its accredited crypto education program designed to support financial advisory services to have constructive and informed client engagements for digital asset investment opportunities. The program begins on September 14th through December 19th, 2021, and will include a biweekly live webinar at 1pm EST on Tuesdays with modules featured on the Digital Wealth News portal.

ComplySci (the “Company”), the leading provider of regulatory technology and compliance solutions for the financial services sector, today announced the appointment of Wendy Fraulo, a finance and accounting professional whose experience spans more than two decades supporting high-growth technology enterprises, as its Chief Financial Officer.

Wealth Enhancement Group (WEG), an independent wealth management firm with nearly $40.2 billion in client assets*, and Onex Corporation (TSX: ONEX), an investment firm and asset manager, today announced a new equity investment from Onex Partners V and certain Onex co-investors, including Onex Corporation (together “Onex”), to help drive WEG’s next stage of organic growth and M&A expansion.

insurance spaces, CogniCor recently announced its invitation to be part of the Morgan Stanley Multicultural Innovation Lab, an in-house start-up accelerator that promotes financial inclusion and access to capital for technology entrepreneurs who are women or cultural minorities.   

Practifi, a business management platform for high-performing wealth institutions, broker-dealers and RIAs, today announced Tim Highland has joined the company as head of professional services. In this role, Highland will lead Practifi’s professional services team in onboarding clients, implementing new projects and enhancing the client journey.