Bills to end mandatory arbitration introduced in House, Senate

The Securities Industry and Financial Markets Association opposes the bill, saying arbitration ‘promotes fair, efficient, and economical dispute resolution for all parties.’
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Betterment account openings skyrocket 116% in first quarter

Betterment’s push to expand across multiple business lines and recent M&A activity could be prompting the robo-adviser toward new gains.
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Morgan Stanley targets $10 trillion in AUM: Gorman

The wirehouse reported new records for net new assets of $105 billion, up 43% from the end of December and an increase of 183% from the same period a year earlier. ‘My target is $10 trillion of money under management,’ said CEO James Gorman. ‘I’ve told the team internally, they hate that.’
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SEC partially settles fraud charges against co-founder of RIA

Martin Silver of International Investment Group in Long Branch, N.J., will pay penalties to be determined.
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Facet Wealth subscription model poses threat to asset-based fees

The latest challenge to advisory fee models based on client assets is carving out a niche between robos and traditional financial planning.
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