Wealth Briefs: Allianz to pay billions in fines and restitution, Wells Fargo cuts robo minimum, unions wary of mandatory arbitration, and more

Unions and some consumer organizations are asking the SEC to investigate mandatory RIA arbitration. UBS is adding model portfolios from AllianceBernstein, BNY Mellon, Fidelity Investments, First Trust, T. Rowe Price and Vanguard. Nearly two-thirds of RIAs are not using testimonial rules.

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