Industry News

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Wealth managers planning to add to ranks in 2025
NEWS PRACTICE MANAGEMENT JAN 10, 2025
Wealth managers planning to add to ranks in 2025

America added more jobs than expected in December. Likewise, RIA firms plan to step up hiring in the coming months.

By Gregg Greenberg
Raymond James could be on the hook for $40 million in additional penalties
NEWS BROKER DEALERS JAN 10, 2025
Raymond James could be on the hook for $40 million in additional penalties

Company says the latest disclosure is not linked to off-channel communication issues.

By Bruce Kelly
Don't rub SALT cap expansion in US tax system's wounds, urges CRFB
NEWS TAX JAN 10, 2025
Don't rub SALT cap expansion in US tax system's wounds, urges CRFB

Analysis warns proposed $20,000 deduction for married couples would only add to projected $3.9 trillion revenue loss, among other consequences.

By Leo Almazora
Dodge & Cox reveals CEO Dana Emery to step down
NEWS MUTUAL FUNDS JAN 10, 2025
Dodge & Cox reveals CEO Dana Emery to step down

The mutual fund giant's chair and chief executive is retiring after a lengthy 40-year tenure at the firm.

By Leo Almazora
Wealth Enhancement Group tops $103B in assets with Ohio acquisition
NEWS RIAS JAN 10, 2025
Wealth Enhancement Group tops $103B in assets with Ohio acquisition

The RIA colossus adds to its still-growing national footprint with its fourth location in the state.

By Leo Almazora
Captrust welcomes $300M Wealth Covenant Group
NEWS RIAS JAN 10, 2025
Captrust welcomes $300M Wealth Covenant Group

The independent wealth titan's latest acquisition in Houston expands its Texas presence into a dozen locations.

By Leo Almazora
Tariffs, tax policies among biggest concerns for mid-market CEOs
NEWS INDUSTRY NEWS JAN 10, 2025
Tariffs, tax policies among biggest concerns for mid-market CEOs

Business leaders express are weighing potential financial impact.

By Steve Randall
Man denied chance to find $700M bitcoin fortune tossed in the trash by ex
NEWS INDUSTRY NEWS JAN 10, 2025
Man denied chance to find $700M bitcoin fortune tossed in the trash by ex

Claimant wants to excavate a landfill facility to search for hard drive.

By Steve Randall
UBS reportedly close to settling Credit Suisse tax charges with Justice Department
NEWS WIREHOUSES JAN 09, 2025
UBS reportedly close to settling Credit Suisse tax charges with Justice Department

The banking giant is set to pay at least a nine-figure sum over collapsed lender's failure to cooperate with efforts to catch tax-evading clients, according to the Wall Street Journal.

By Leo Almazora
Blackstone’s latest fund rakes in cash, sells more than $1B
NEWS EQUITIES JAN 09, 2025
Blackstone’s latest fund rakes in cash, sells more than $1B

It’s the second straight year that Blackstone has launched a new fund in the alternative investment space and had a hit right off the bat.

By Bruce Kelly
Cerity Partners gets boost in Boston with Prio Wealth merger
NEWS RIAS JAN 09, 2025
Cerity Partners gets boost in Boston with Prio Wealth merger

The independent wealth giant's latest move in New England gives it an additional $4.1 billion in assets along with a "highly credentialed and experienced team."

By Leo Almazora
Over half of advisors warming up to crypto after Trump's election win, finds survey
NEWS ALTERNATIVES JAN 09, 2025
Over half of advisors warming up to crypto after Trump's election win, finds survey

With nearly all poll participants fielding questions from curious clients, the percentage of advisors investing in the asset class has doubled from 2023.

By Leo Almazora
Wealth managers reject bearish arguments as S&P goes for 'three-peat'
NEWS RIAS JAN 09, 2025
Wealth managers reject bearish arguments as S&P goes for 'three-peat'

Wall Street may not be expecting an S&P 500 "three-peat" victory in 2025, but that does not mean they are not bullish.

By Gregg Greenberg
Coldstream welcomes Seattle firms on continued Pacific Northwest push
NEWS RIAS JAN 09, 2025
Coldstream welcomes Seattle firms on continued Pacific Northwest push

The latest additions, a CPA practice and its sister RIA, boosts Coldstream's to $11.1 billion in advised assets while bolstering its tax capabilities.

By Leo Almazora
Savvy Advisors crosses $1B milestone to close 2024
NEWS RIAS JAN 09, 2025
Savvy Advisors crosses $1B milestone to close 2024

Founder and CEO hails industry-beating growth record, sealed by final four advisor additions, as proof of tech-empowered RIA's "belief in the value of human financial advice."

By Leo Almazora
Edward Jones to pay $17M to settle mutual fund fee overcharging probe
NEWS INDUSTRY NEWS JAN 09, 2025
Edward Jones to pay $17M to settle mutual fund fee overcharging probe

It follows a four year investigation by state regulators.

By Steve Randall
Why some wealthy Americans are looking for new citizenship as Trump 2.0 nears
NEWS INDUSTRY NEWS JAN 09, 2025
Why some wealthy Americans are looking for new citizenship as Trump 2.0 nears

Concerns around stability have made second citizenships more attractive.

By Steve Randall
Advisors rush to reach clients affected by LA fires
NEWS INDUSTRY NEWS JAN 08, 2025
Advisors rush to reach clients affected by LA fires

Financial professionals near Malibu sought to ensure people had reached safety as major fires devastated parts of Los Angeles. With almost no containment for the fires as of Tuesday, the idea of rebuilding is far away, and it will be complicated by a lack of insurance.

By Emile Hallez
Liz Miller begins tenure as 2025 CFP Board chair
NEWS INDUSTRY NEWS JAN 08, 2025
Liz Miller begins tenure as 2025 CFP Board chair

The respected veteran will oversee an ambitious agenda at the professional planning body, including plans to drive more inclusion and help shed insights on AI.

By Leo Almazora
Father-son advisor team finds new home at LPL
NEWS INDUSTRY NEWS JAN 08, 2025
Father-son advisor team finds new home at LPL

The two advisors, who previously managed $320 million at Osaic, are joining the broker-dealer giant's network in Oregon.

By Leo Almazora