Wealth Management

An organization of investors' attorneys supports the regulation, arguing it could address the continued issue of unpaid arbitration awards. schedule4 Min Read Washington is considering new regulations mandating insurance for state-registered investment advisors, which attorneys for investors hope will reduce the frequency of unpaid arbitration awards. Currently, Oregon and Oklahoma are the only two other states requiring RIAs to carry at least $1 million in “errors and omissions” insurance.

UBS, which has been seeking to combat attrition among its North American advisor pool, reported three advisory team wins on Friday that had been overseeing a combined $2.6 billion at competitors Merrill Lynch and Morgan Stanley. According to the Switzerland-based bank’s wealth management arm, financial advisor John Hall has shifted his Merrill practice in Bellevue, Wash., to the UBS Pacific Northwest Market group.

A team that works with some of the Knicks players has a unique asset: Matt Kennedy, a 6-foot-2 Villanova University graduate who spent years as a teammate of New York Knicks superstars Jalen Brunson, Josh Hart and Mikal Bridges. Matt Kennedy was a teammate at Villanova with now-Knicks stars Jalen Brunson, Josh Hart and Mikal Bridges. (Bloomberg) -- The New York Knicks’ championship year is proving to be a boon for Goldman Sachs Group Inc.

(Bloomberg) -- Blue Owl Capital is seeking to create a real estate investment trust for data centers and take it public, according to people familiar with the matter, as more companies tap the market to fund building out artificial intelligence infrastructure. The alternative asset manager expects to seed the REIT with about $6.5 billion of its own data center assets, one of the people said, asking not to be identified as the information is private.

In other M&A news, acquisitive RIAs Wealth Enhancement, Maridea and Summit Wealth add firms ranging from Alaska to Pennsylvania. Alex Ortolani,Senior Reporter,Wealth Management schedule7 Min Read (L-R): Michael Wohlgemuth, Alexandra Escobedo, Trace Shapiro and Paul Yates NewEdge Wealth, the ultra-high-net-worth division of NewEdge Capital Group, recruited four wealth managers to staff a new Fort Lauderdale, Fla., location, marking the firm’s fourth office in the state, the company announced.

Chair Paul Atkins argued the 2010 rule effectively suppressed political speech by advisors, which one consumer protection advocate called a "lie," saying it curbed corruption. schedule4 Min Read The Securities and Exchange Commission is moving to rescind a rule overseeing when advisors may provide services to government clients and when they may make political contributions, arguing the regulation infringes on protected speech.

Envestnet is increasing its technology investment in Tamarac with what it calls a $35 million surge investment in the widely used portfolio management and rebalancing platform used by RIAs. This represents 2.5 times its regular annual investment in the technology and is part of a $1 billion, five-year research and development commitment to transform the advisor experience, according to the company.

The number of millionaire 401(k) accounts at Fidelity Investments rose 19% to a record 769,000 between the first and second quarter. (Bloomberg) -- Retirement feels more elusive than ever for many Americans, but 401(k) millionaires are proliferating after years of steady investing and a strong run in the stock market. The number of millionaire 401(k) accounts at Fidelity Investments rose 19% to a record 769,000 between the first and second quarter, according to a report released Thursday.

Open, honest and candid discussion about World Investment Advisors for sale, DCIO and record keeper consolidation, the RIA steroid era, advisor credentials and more. Fred Barstein,Founder and CEO,The Retirement Adviser University Welcome to this week’s edition of 401(k) Real Talk, where Fred Barstein, contributing editor for Wealth Management’s RPA channel, reviews all of last week’s industry news and selects the five most important/interesting stories.

Only 6% of independent RIAs disclosed artificial intelligence use in March 2026 filings, yet those firms manage 11% of industry assets and increased headcount by 15%. Davis Janowski,Senior Technology Editor, Wealth Management schedule4 Min Read With the avalanche of AI hype, product launches and announcements I’m constantly buried by, it is refreshing to receive analysis and data that reflects actual usage and grounds me back into some semblance of reality.