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ETFs that track stock trades of members of Congress planned
MUTUAL FUNDS SEP 16, 2022
ETFs that track stock trades of members of Congress planned

A pair of exchange-traded funds would analyze the financial disclosure of lawmakers from both parties and their spouses and dependent children.

Ray Dalio says rates at 4.5% would sink stocks by 20%
RIA NEWS SEP 15, 2022
Ray Dalio says rates at 4.5% would sink stocks by 20%

The billionaire founder of Bridgewater Associates says private sector credit growth and spending to come down.

AllianceBernstein enters ETF arena with its first set of active ETFs
MUTUAL FUNDS SEP 14, 2022
AllianceBernstein enters ETF arena with its first set of active ETFs

The asset manager's initial lineup includes the Ultra Short Income and Tax-Aware Short Duration Municipal ETFs.

Credit Suisse clash over tycoon's trust catches industry attention
RETIREMENT PLANNING SEP 14, 2022
Credit Suisse clash over tycoon's trust catches industry attention

A win for Bidzina Ivanishvili against Credit Suisse Trust (Singapore) Ltd. may force a major rethink of how and when trust operators flag unusual transactions or other shady practices.

Wells Fargo plans third-party racial equity audit
PRACTICE MANAGEMENT SEP 14, 2022
Wells Fargo plans third-party racial equity audit

The announcement that the bank hired law firm Covington & Burling to do an assessment comes as CEO Scharf prepares to appear at a pair of congressional hearings.

Bank of America forms wealth management banking and lending group
PRACTICE MANAGEMENT SEP 13, 2022
Bank of America forms wealth management banking and lending group

The new organization, which comprises about 3,500 employees, seeks to expand the firm's offerings for affluent clients increasingly sought by rivals.

Bigger-than-expected CPI gain cements odds of big Fed hike
RIA NEWS SEP 13, 2022
Bigger-than-expected CPI gain cements odds of big Fed hike

The August consumer price index showed price pressures are still historically elevated and widespread.

Goldman plans to eliminate several hundred positions in new round of job cuts
PRACTICE MANAGEMENT SEP 13, 2022
Goldman plans to eliminate several hundred positions in new round of job cuts

The reductions are a resumption of Goldman’s annual culling cycle that it had largely paused during the pandemic.

SEC's Gensler continues push to crack down on crypto rule-breakers
ALTERNATIVES SEP 08, 2022
SEC's Gensler continues push to crack down on crypto rule-breakers

In a speech, the SEC chair repeated his demand that crypto exchanges, brokers and attorneys in the digital coin industry comply with securities rules.

End of Wealthfront deal dents UBS growth plans in US
FINTECH SEP 06, 2022
End of Wealthfront deal dents UBS growth plans in US

The acquisition of the robo-adviser was the centerpiece of UBS CEO Ralph Hamers' focus on broadening the wirehouse's wealth management offering.