Industry News

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Morgan Stanley helped Musk conceal Twitter stock buying, suit says
NEWS INDUSTRY NEWS MAY 30, 2024
Morgan Stanley helped Musk conceal Twitter stock buying, suit says

Oklahoma pension fund alleges the "secret" scheme to consolidate ownership stakes led to almost $1.5M in commissions.

By Bloomberg
Graduates want a career in finance industry, happy to work with AI
NEWS INDUSTRY NEWS MAY 30, 2024
Graduates want a career in finance industry, happy to work with AI

CFA Institute study highlights attractiveness of working with wealth.

By Steve Randall
Investor who lost $1.5M uses AI platform to recover $100M for others
NEWS INDUSTRY NEWS MAY 30, 2024
Investor who lost $1.5M uses AI platform to recover $100M for others

Platform gets backing of experienced investors in $2M seed round.

By Steve Randall
Outsourced trading boosts investment performance for asset managers: State Street
NEWS INDUSTRY NEWS MAY 30, 2024
Outsourced trading boosts investment performance for asset managers: State Street

Report found widespread performance gains across North America, globally.

By Steve Randall
Record-breaking summer heat set to spark commodities volatility
NEWS INDUSTRY NEWS MAY 30, 2024
Record-breaking summer heat set to spark commodities volatility

From natural gas to soy, prices are already rising globally.

By Bloomberg
UBS appoints new US business leader, joint head of wealth
NEWS INDUSTRY NEWS MAY 30, 2024
UBS appoints new US business leader, joint head of wealth

Management shakeup sets up CEO succession plan.

By Bloomberg
Are US banks too exposed to CRE when REITs are considered?
NEWS INDUSTRY NEWS MAY 30, 2024
Are US banks too exposed to CRE when REITs are considered?

Study suggests regulators may not appreciate the risk.

By Bloomberg
Awaiting a verdict on Trump, market likely to say 'meh'
NEWS INDUSTRY NEWS MAY 29, 2024
Awaiting a verdict on Trump, market likely to say 'meh'

'Absent Trump being in jail, none of this stuff is going to matter,' says one advisor.

By Emile Hallez
Credit environment strong, inflation decelerating, says Lincoln Financial CIO
NEWS INDUSTRY NEWS MAY 29, 2024
Credit environment strong, inflation decelerating, says Lincoln Financial CIO

Despite the fact that credit spreads are at historical tights, the technical backdrop is fantastic, says Lincoln CIO Jayson Bronchetti.

By Gregg Greenberg
‘An immense responsibility to serve others’
NEWS INDUSTRY NEWS MAY 29, 2024
‘An immense responsibility to serve others’

InvestmentNews Awards 2024, Advisor of the Year (Regional - Southwest): Matthew Walker, Fortitude Family Office.

By Josh Welsh
Finalist works to achieve a work-optional lifestyle for clients
NEWS INDUSTRY NEWS MAY 29, 2024
Finalist works to achieve a work-optional lifestyle for clients

InvestmentNews Awards 2024, Advisor of the Year (Western region): Cody Klein, SageView Advisory Group.

By Josh Welsh
T. Rowe Price forges 529 alliance with Ascensus
NEWS FINTECH MAY 29, 2024
T. Rowe Price forges 529 alliance with Ascensus

The retirement industry giant is tapping the leading TPA and recordkeeper to service its state-sponsored 529 plans.

By Leo Almazora
Merrill Lynch agrees to nearly $20M settlement for racial class action
NEWS WIREHOUSES MAY 29, 2024
Merrill Lynch agrees to nearly $20M settlement for racial class action

Discriminatory actions at the wirehouse have restricted business opportunities and compensation for African American advisors, alleged four former employees.

By Leo Almazora
American consumers are more confident generally, but finances remain concerning
NEWS INDUSTRY NEWS MAY 29, 2024
American consumers are more confident generally, but finances remain concerning

Reports from The Conference Board reveal mixed sentiment.

By Steve Randall
Stocks, bonds decline as US Treasuries fall overnight
NEWS INDUSTRY NEWS MAY 29, 2024
Stocks, bonds decline as US Treasuries fall overnight

Fed comments and inflation data weigh on markets.

By Bloomberg
Hedge funds take Magnificent Seven exposure to record high
NEWS INDUSTRY NEWS MAY 29, 2024
Hedge funds take Magnificent Seven exposure to record high

Tech mega-caps account for more than 20% of funds' US stock exposure.

By Bloomberg
BlackRock's $20 Billion ETF becomes world’s biggest bitcoin fund
NEWS INDUSTRY NEWS MAY 29, 2024
BlackRock's $20 Billion ETF becomes world’s biggest bitcoin fund

The firm's offering has nudged ahead of Grayscale.

By Bloomberg
Cathie Wood's $60 Million venture fund backs Elon Musk's AI firm
NEWS INDUSTRY NEWS MAY 29, 2024
Cathie Wood's $60 Million venture fund backs Elon Musk's AI firm

Ark Venture Fund has also invested in OpenAI recently.

By Bloomberg
Excellence Awardee impacts people in 'big, hairy, audacious ways'
NEWS INDUSTRY NEWS MAY 28, 2024
Excellence Awardee impacts people in 'big, hairy, audacious ways'

InvestmentNews Awards 2024, Advisor of the Year (Regional - Southwest): Jimmy Williams, Compass Capital Management.

By Josh Welsh
Young advisors face marketing struggles, finalist warns
NEWS INDUSTRY NEWS MAY 28, 2024
Young advisors face marketing struggles, finalist warns

InvestmentNews Awards 2024, Advisor of the Year (Regional - Southwest): Stephanie Tsang, North Star Resource Group.

By Josh Welsh