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LPL, Ameriprise wade into AI applications for advisors
'When I left Ameriprise earlier this year, the company was just starting to talk about AI,' one financial advisor said.
Ray Dalio says policymakers may be forced to raise taxes if Fed hikes fail
The multibillionaire founder and CIO of Bridgewater Associates says the Great Wealth Transfer is why the Fed's inflation levers aren’t working as expected.
Stifel adds new flagship offices and $673M AUM with three advisory teams
The firm's new additions boost its total assets under management to more than $6.5B.
Raymond James welcomes $250M AUM Edward Jones team as independents
The team will establish a new SilverTree Wealth office in Tucson, Arizona.
Markets await US jobs data, Amazon up 9%
Global equities were higher in early trading Friday as key labor market report is anticipated.
BofA clients exit stocks fearing recession
The bank's private clients have favored bonds in the past week.
High-yield bonds in, leveraged loans out
Issuance of secured notes in the junk-bond market has surged in 2023.
Envestnet revenue falls short of expectations in Q2
Company did meet Wall Street’s expectations for earnings per share at $0.46 and CEO says he expects the Data and Analytics business to stabilize in the second half of the year.
State regulators, PIABA continue to resist Finra’s plan for remote supervision
But LPL Financial, Fidelity back the idea of allowing supervisors to work from home, using technology to oversee reps, as they did during the pandemic.
GOP effort to curb ESG proves unsuccessful so far
'If you’re expecting any meaningful legislation to emerge from all the Republicans’ talking points, think again,' says Washington Research Group's John Miller.
Inflation is weakening 401(k) savings ability for millions of Americans, says Schwab
Despite the challenging conditions, workers are trying to keep on top of retirement savings.
Advisor firms with combined 192-year history join forces with $5B AUM
Deal brings together two of the longest-established US wealth management businesses.
Treasuries sell-off pushes 10-year yields to 2023 high
Equities decline amid earnings and economic policies.
IRS probes wealthy in Malta tax scheme but they’re not the target
Tax experts believe the investigation of wealthy Americans is ultimately designed to snare the promoters.
Commodity ETFs gain as traders bet recession will be avoided
The asset class has benefitted from expectation that global growth will pick up.
Allworth’s Hanson, McClain stepping down as co-CEOs
Allworth's board has begun a search for a new chief executive.
Advisors take US debt downgrade in stride: ‘More to do with politics than economic stability’
'Not worth panicking about' — advisors caught off guard by Fitch's timing but remain sanguine.
Will Elon Musk’s X take over financial services? Don’t hold your breath
Advisors raise a collective, skeptical eyebrow as billionaire goes where many other Silicon Valley companies have already tried and failed.
Will adding annuities to 401(k) plans alleviate the retirement crisis?
Client feelings of certainty and happiness are main benefits of adding annuity option to retirement plans, says advisor.
SEC bars another advisor involved in church scam
Scams involving members of a group such as a church, known as affinity frauds, pose perils for investors, one attorney notes.
