Patrick Donachie

Registered investment advisors (RIAs) with less than $1.5 billion in assets must now comply with the U.S. Securities and Exchange Commission's new Regulation S-P compliance, which went into effect on June 3 and expands requirements for protecting customer data and responding to cybersecurity incidents. Key provisions include maintaining a formal incident response plan, notifying affected clients within 30 days of a breach and obtaining assurances that service providers will report cyber incidents within 72 hours. Industry experts say many firms remain underprepared, particularly smaller RIAs that have focused more on prevention than detection and response. Challenges include creating practical incident response plans, mapping customer data flows and securing commitments from vendors regarding breach notifications.

While downing increasingly spicier wings, Michael Kitces and Jason Pereira questioned the assumptions that AI's efficiency promises would balloon the number of advised clients.

The mega RIA's leader prefers employee ownership over an IPO, citing strategic flexibility and long-term focus as key reasons for staying private.

During a conversation at Wealth Management EDGE last week, Winston Justice and Shawn Wooden discussed transitioning from professional football to the financial services industry.

Students seeking careers in wealth management prioritize training and professional development, according to a research report released last week at the Wealth Management EDGE conference. Just don’t ask them to sell financial products.

Reid & Rudiger cofounders were barred after clients paid $2 million in commissions and incurred $2.7 million in losses from trades

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Alan Feutz brings 25 years of experience serving high-net-worth clients as Genesis Wealth opens new Chicago-area office

A class action lawsuit claims the firm kept interest rate payments "consistently low and untethered” to the market, including federal rates.

According to the Manhattan District Attorney, Michael Collins pleaded guilty to embezzling nearly $6 million from CFA Institute and another firm using fake consulting companies.