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West Virginia stops banking with Citi, Northern Trust, over fossil fuels
NEWS ESG APR 09, 2024
West Virginia stops banking with Citi, Northern Trust, over fossil fuels

The state treasurer added four financial services firms to a list of those ineligible to provide banking services to the state because he says they 'boycott' the fossil fuels industry.

By Bloomberg
Wealth Enhancement Group announces new leaders as client assets surpass $81B
NEWS INDUSTRY NEWS APR 09, 2024
Wealth Enhancement Group announces new leaders as client assets surpass $81B

BlackRock's former head of income investing is among the appointments.

By Steve Randall
Mesirow eyes organic growth, new products with strategy leader appointment
NEWS INDUSTRY NEWS APR 09, 2024
Mesirow eyes organic growth, new products with strategy leader appointment

The firm's plans include further strategic hires and acquisitions.

By Steve Randall
Former Fed president James Bullard expects three rate cuts
NEWS INDUSTRY NEWS APR 09, 2024
Former Fed president James Bullard expects three rate cuts

Economic reports already justify cuts, the former central bank executive says.

By Bloomberg
Billionaire Branson's SPAC deals have cost him dearly
NEWS INDUSTRY NEWS APR 09, 2024
Billionaire Branson's SPAC deals have cost him dearly

British entrepreneur's net worth has tumbled around $5 billion.

By Bloomberg
Nearly half of US filers put off tax prep
NEWS INDUSTRY NEWS APR 08, 2024
Nearly half of US filers put off tax prep

A survey of more than 1,000 US adults offers glimpses of tax stress and procrastination as the April filing deadline looms.

By Leo Almazora
Wells Fargo Advisors' midyear pay tweaks
NEWS BROKER DEALERS APR 08, 2024
Wells Fargo Advisors' midyear pay tweaks

Broker-dealers are increasingly chasing registered investment advisor assets.

By Bruce Kelly
Millennials are dipping into retirement savings for housing costs
NEWS INDUSTRY NEWS APR 08, 2024
Millennials are dipping into retirement savings for housing costs

Across generations, the costs of rent and mortgages are challenging.

By Steve Randall
Bonds drop as traders ease expectations for rate cuts
NEWS INDUSTRY NEWS APR 08, 2024
Bonds drop as traders ease expectations for rate cuts

Two cuts now seen as the most likely Fed action.

By Bloomberg
Up to 26M Americans could get student debt relief under new plan
NEWS INDUSTRY NEWS APR 08, 2024
Up to 26M Americans could get student debt relief under new plan

President Biden hopes his alternative plan will pass scrutiny.

By Bloomberg
Steward Partners hails strong start to 2024 recruiting
NEWS ADVISOR MOVES APR 07, 2024
Steward Partners hails strong start to 2024 recruiting

The hybrid RIA expects its $1 billion haul of new client assets in the first quarter will set it up for a repeat of its robust 2023.

By Leo Almazora
Dave Ramsey takes a jab at advisors’ future clients
NEWS PRACTICE MANAGEMENT APR 05, 2024
Dave Ramsey takes a jab at advisors’ future clients

Targeting a group who could turn into financial advisors' clients is a dubious marketing strategy, executives said.

By Bruce Kelly
Morgan Stanley economist says Fed will cut in June
NEWS INDUSTRY NEWS APR 05, 2024
Morgan Stanley economist says Fed will cut in June

Ellen Zentner says May will be too soon but June should be right.

By Bloomberg
Cash fund flows won't ease until one year after rate cuts: BofA
NEWS INDUSTRY NEWS APR 05, 2024
Cash fund flows won't ease until one year after rate cuts: BofA

Strategist Michael Hartnett says history suggests a 12-month lag.

By Bloomberg
Boom and bust for oil? Crude set for $100
NEWS INDUSTRY NEWS APR 05, 2024
Boom and bust for oil? Crude set for $100

OPEC+ may be risking a repeat of 2023's narrative.

By Bloomberg
Pennsylvania family office celebrates $5B AUM milestone
NEWS RIAS APR 04, 2024
Pennsylvania family office celebrates $5B AUM milestone

The CEO of the firm founded by former Wells Fargo private bank execs says its record two-year organic growth is due to its ‘truly independent, entrepreneurial approach.'

By Leo Almazora
Climate Action 100+ signers colluding? No way, says Morningstar
NEWS ESG APR 04, 2024
Climate Action 100+ signers colluding? No way, says Morningstar

Analysis of proxy voting records finds “a wide range of voting approaches” among asset managers and asset owners.

By Leo Almazora
Big-name affiliation a big deal for the affluent: Cerulli
NEWS PRACTICE MANAGEMENT APR 04, 2024
Big-name affiliation a big deal for the affluent: Cerulli

A large proportion of wealthy clients are more comfortable with advisors at national firms, according to new research.

By Leo Almazora
MassMutual B-D gooses advisors with new bonus
NEWS RIAS APR 04, 2024
MassMutual B-D gooses advisors with new bonus

MML Investors Services reps can earn an "advisor growth bonus" this year that rewards net new assets.

By Bruce Kelly
Just say no to Goldman’s executive comp plan, investors urged
NEWS BROKER DEALERS APR 04, 2024
Just say no to Goldman’s executive comp plan, investors urged

Proxy voting firm cites ‘significant disconnect between pay and performance’ following CEO Solomon’s $31 million payday.

By Bloomberg