The LPL-Ameriprise recruiting dustup; good news for retirement savers; breaking barriers in wealth management

WEALTH MANAGEMENT: LPL and a recently recruited father-son advisory team are accusing Ameriprise of intimidation tactics meant to make other wealth managers think twice before leaving for other firms.

In a legal document filed earlier this month, LPL Financial questioned Ameriprise's decision to turn to the courts for a resolution of a dispute over LPL's recruitment of Mitchell and Wesley McCann. The father-and-son pair had formerly managed nearly $250 million for Ameriprise out of an office in the Detroit suburb of Bloomfield Hills, Michigan; a June 24 Ameriprise suit accused the McCanns of making off with confidential documents "in the dark of night, after business hours and on weekends" in the weeks and days preceding their April departure.

Read: LPL rips Ameriprise for trying to intimidate departing advisors

RETIREMENT: The U.S. retirement system faces many challenges, but one important area is seeing improvement: 401(k) savings.

Last year, according to a new study from Vanguard, Americans set aside more of their incomes for retirement than ever before. The financial giant studied the savings behavior of its 5 million 401(k) participants, and found that their average contribution rate was 7.4% — the highest rate Vanguard has ever recorded. Combined with employer matches, that brings the average overall savings rate to 11.7%.

Read: American 401(k) savings rates reach all-time high

PROFESSIONAL DEVELOPMENT: In a panel discussion at the Women's Impact Initiative Network of the Association of African-American Financial Advisors conference last week, four female executives — whose success in the wealth management industry belies the severe underrepresentation of women among advisors and inC-suites — discussed the many barriers toward greater representation and what can be done to remove them.?

The lessons carry major implications for women's careers in wealth management —?and the field's success in serving clients.

Read: How to remove barriers for women in wealth management

Register now for ADVISE AI , the first-ever wealth management conference focused solely on AI.

Subscribe for the latest in wealth management and financial planning news here .