The so-called short squeeze that drives up share prices by forcing investors betting on a stock to go down to buy more of it to hedge potential losses is not new to the 2020s, but it is easier to execute.
A social media platform and ready access to mobile trading apps have helped push an otherwise obscure, money-losing videogame retail business to a $21 billion market cap.
As the brokerage navigates the cumbersome undertaking of acquiring thousands of advisers from TD Ameritrade and more than $6 trillion in assets, the broader custody industry is not sitting idle waiting for the fallout.
Siller & Cohen Family Wealth Advisors in Rye Brook, New York, joins Hightower's sprawling 33-state footprint.
The Toronto-based wealth management conglomerate has made 14 U.S. deals in less than a year. The acquisition will be CI’s largest purchase so far, and once completed it will double its total U.S.-based assets to $46.1 billion.
The slowdown in March turned out to be just brief bump in the road for buyers and sellers in the wealth management space.
After 12 years as president of the division, Kathleen Murphy, 57, will depart this summer; her successor has not yet been named.
Record outflows from mutual funds have analysts wondering about the future of giants like American Funds, T. Rowe Price and Dimensional Fund Advisors. While mutual funds still hold more than three times the assets of exchange-traded funds, they registered a record $289 billion in outflows last year, according to Morningstar.
Stocks are up almost 12% since Election Day, and some advisers are already looking for a pullback. Biden's post-election rally stands out as the strongest since World War II.
The tight group of marijuana ETFs are up between 28% and 55% in January, anticipating federal approval. For financial advisers and investors, instead of just jumping headlong into cannabis investing, the challenge is traversing a sector that is in limbo.
