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Cooling inflation points to 3% Social Security COLA for 2024
While prices for some essentials continue to increase, it's likely that the cost-of-living adjustment will be much lower than 2023's.
Cetera closes deal for Securian wealth business
The acquisition brings Cetera nearly $50 billion in client assets and more than 91% of Securian’s advisors.
Vanguard Charitable notches year of record giving despite market turmoil
In fiscal 2023, grants were up 11%, surpassing $2 billion, according to the sponsor of donor-advised funds.
In CEO race, Morgan Stanley hopes for drama-free handoff
Outgoing CEO Gorman wants an outcome in which the rejected finalists stay with the firm.
Former school teacher joins LPL Financial’s employee advisor channel
Brendan Wood has managed approximately $130M in assets, most recently with Merrill Lynch.
Pension fund shareholder suit against Dimon, JPMorgan Chase board fails
Judge rules on Epstein-related lawsuit.
Integrated Partners welcomes $225M Colorado RIA as an affiliate partner
PRISM Financial Strategies has a specific niche serving the unique wealth management and advisory needs of women.
Eyes on US inflation data, commodity prices rise
Treasuries flat while global stocks gain in early trading Thursday.
Pimco parent profit gains but not from asset management
Allianz SE's insurance business earnings offset weakness for asset management which includes Allianz Global Investors.
US venture capitalists gain greater access to China
Biden administration imposes only light curbs on money flow.
Nuveen and TIAA roll out target-date series with annuity feature
Few 401(k) plans have such features, but product providers expect that to change.
Worried about Social Security running out of money, many plan to take benefits early
Only 10% of non-retired Americans plan to wait until they're 70 to receive the maximum Social Security payment, Schroders survey finds.
Don’t fear the inverted yield curve
The most direct implication of the inverted curve isn't a recession, but that yields will be lower in the future.
Merrill Lynch $320M AUM team goes independent in Texas
Veritas Legacy Wealth launches with support from LPL Financial's Strategic Wealth Services.
Fines for Wall Street communications violations reach $2.5B
WhatsApp and texting has resulted in one of the past decade’s largest enforcement efforts.
RIA with $3.1B leaving Schwab’s custodian for Axos
CG Advisor also has a relationship with LPL's custodian and is looking to partner with a third or fourth custodian.
Lawsuit over ESG in 401(k) not cleared for takeoff, American Airlines says
ESG-themed funds named in the case are only available through a brokerage window, the defendant noted.
Miami firm gains as big banks drop Latin America clients
Insigneo has tripled its staff and increased its AUM to more than $20 billion from less than $3 billion just six years ago.
Lack of estate planning leads to family feuds, study shows
Without proper estate planning, 58% of respondents have experienced family disputes and having assets fall under court control.
Wall Street to pay hundreds of millions more for WhatsApp use
Wells Fargo units agreed to pay $125 million to the SEC and $75 million to the CFTC.
