The business of independent advice: growth, custody, fees, talent, and what it all means for the firm you run. 26 stories this week · 288 total.
Investment scams cost $1.06 billion, up 42%; losses above $100,000 were 6% of reports but 70% of dollars.
What changed in the SEC's weekly Form ADV data between October 17, 2026 and October 24, 2026: the largest reported asset moves, new and departed advisers, headcount swings and name changes.
The $4,800, 20-seat minimum surfaced on a Claude webinar days before Schwab's IMPACT conference, where RIAs meet both firms.
The rule took effect Oct. 2, the day Hester Peirce left; the SEC also proposed a 20% performance fee for advisors to registered funds and BDCs.
The letter restores a dedicated consultant, and non-Vanguard funds now count toward the $1 million minimum.
Original analysis from PWD Editors, built from our data and many sources.
The week's deal, movement and flow data show consolidation and recruiting still running, but leverage, custody minimums and metered vendor costs are shifting the bill to RIAs.
A $714 million median disclosed deal, $6.8 billion of moving advisor books and Mariner's $150 million loan add-on show financing and integration setting the pace.
Wealth managers announced 156 deals and closed 50 in 90 days. Sellers should price the buyer on closes, committed capital and who stays.
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