Staff report

RIAs including Abacus Planning Group, Beta Wealth Group, Integrated Advisors Network were accused of violations ranging from making unsubstantiated statements to claiming membership in nonexistent organizations.

The legal action comes after executives expressed comfort with their firm's deposit rates in a recent earnings call.

FINRA's settlement with Merrill gives the wirehouse credit for "extraordinary cooperation" with its investigation.

Tech titans Envestnet and Salesforce said they are partnering to offer a broader, more streamlined platform for advisors.

Combining the two partner firms will create an RIA with more than $50B under management.

The private equity-backed advisory aggregator plans to use a consolidation process in "coming months" to bring its various brokerages under one brand.

The merger "will fundamentally transform the RIA ecosystem," tru CEO Craig Stuvland says.

Michael Nathanson will replace interim chief Dan Glaser but remain the chief of The Colony Group as the RIA aggregator consolidates its ranks out of the public eye.

Citizens Financial said long-time Morgan Stanley leader Paul Casey will spearhead its wealth, private banking units as part of a larger expansion in advisory services.

Kinecta Wealth Management, the wealth arm of Kinecta Federal Credit Union, will switch firms by the end of the year.