Industry News

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Investors await earnings from $3T Nvidia, stocks edge higher
NEWS INDUSTRY NEWS AUG 28, 2024
Investors await earnings from $3T Nvidia, stocks edge higher

The chipmaker will release its quarterly stats after the market closes.

By Bloomberg
Goldman Sachs snaps up Citigroup veteran for natural resources team
NEWS INDUSTRY NEWS AUG 28, 2024
Goldman Sachs snaps up Citigroup veteran for natural resources team

By Bloomberg
Warren Buffett sells another $982M in BofA shares
NEWS INDUSTRY NEWS AUG 28, 2024
Warren Buffett sells another $982M in BofA shares

Billionaire investor has cut his holding by almost 13% this summer.

By Bloomberg
How Kamala Harris's wealth tax plan could hit affluent Americans
NEWS INDUSTRY NEWS AUG 27, 2024
How Kamala Harris's wealth tax plan could hit affluent Americans

The proposal would raise the top income tax rate and introduce a new tax on unrealized capital gains.

By Leo Almazora
Rep-owned B-D pays $1 million to ripped off clients
NEWS BROKER DEALERS AUG 27, 2024
Rep-owned B-D pays $1 million to ripped off clients

United Planners' Financial Services of America failed to supervise its salesman, according to Arizona.

By Bruce Kelly
JPMorgan gets swept up in cash sweep drama
NEWS WIREHOUSES AUG 27, 2024
JPMorgan gets swept up in cash sweep drama

A class-action suit filed against the Wall Street bank is just the latest in a raft of cases alleging too-low interest rates offered to clients.

By Leo Almazora
Social Security creates retirement concerns for over half of Americans
NEWS INDUSTRY NEWS AUG 27, 2024
Social Security creates retirement concerns for over half of Americans

Allianz survey finds persistent gaps and fears around retirement planning across Gen X, millennials, and boomers.

By Leo Almazora
Brothers charged by SEC for involvement in alleged $60M Ponzi scheme
NEWS INDUSTRY NEWS AUG 27, 2024
Brothers charged by SEC for involvement in alleged $60M Ponzi scheme

More than 80 investors were persuaded by promised 13.5% returns.

By Steve Randall
Good Life has picked up three new advisors in August, eyes growth with new location
NEWS INDUSTRY NEWS AUG 27, 2024
Good Life has picked up three new advisors in August, eyes growth with new location

Firm says there is strong demand for its route to independence.

By Steve Randall
Goldman Sachs sees oil at $77 in 2025 amid surplus
NEWS INDUSTRY NEWS AUG 27, 2024
Goldman Sachs sees oil at $77 in 2025 amid surplus

OPEC+ could be among the producers increasing supply.

By Bloomberg
Bronfman exit clears path for Skydance to buy Paramount Global
NEWS INDUSTRY NEWS AUG 27, 2024
Bronfman exit clears path for Skydance to buy Paramount Global

CBS, MTV firm set for revitalization under new owner.

By Bloomberg
Fed cuts could spark $1T US asset sale, FX market risk
NEWS INDUSTRY NEWS AUG 27, 2024
Fed cuts could spark $1T US asset sale, FX market risk

US denominated asset sale could be an 'avalanche'.

By Bloomberg
Ex-Goldman MD 'bets career' on climate-proofing real estate
NEWS INDUSTRY NEWS AUG 27, 2024
Ex-Goldman MD 'bets career' on climate-proofing real estate

Wall Street veteran teams up with billionaire investor Tom Steyer.

By Bloomberg
New York RIA faces $1.8M penalty over failures in handling nonpublic information
NEWS INDUSTRY NEWS AUG 26, 2024
New York RIA faces $1.8M penalty over failures in handling nonpublic information

SEC says the firm failed to properly review risks in CLO trades it executed, causing roughly $685K in losses for two counterparties.

By Leo Almazora
B-D giant Osaic reorganizes management team
NEWS BROKER DEALERS AUG 26, 2024
B-D giant Osaic reorganizes management team

The moves boost the authority of Tim Hodge and Dimple Shah in Osaic's management structure.

By Bruce Kelly
Dimensional Fund alums launch platform to empower RIAs
NEWS RIAS AUG 26, 2024
Dimensional Fund alums launch platform to empower RIAs

The new venture, Parkwoods Wealth Partners, aims to help registered investment advisers overcome the challenges of growth and succession planning.

By Leo Almazora
Wellspring taps Evolution Capital’s Jeffrey Kadlic as president and COO
NEWS INDUSTRY NEWS AUG 26, 2024
Wellspring taps Evolution Capital’s Jeffrey Kadlic as president and COO

With 25 years of experience across multiple areas, the alternative investing veteran is set to lead the multi-family office’s next leg of expansion.

By Leo Almazora
Hybrid RIA celebrates 200 pillar partner advisors on its $13B AUM platform
NEWS INDUSTRY NEWS AUG 26, 2024
Hybrid RIA celebrates 200 pillar partner advisors on its $13B AUM platform

Prioritizing retirement plan for advisors is one of the keys to firm's success.

By Steve Randall
PE firm adds catalog of Grammy winning Bruno Mars collaborator to assets
NEWS INDUSTRY NEWS AUG 26, 2024
PE firm adds catalog of Grammy winning Bruno Mars collaborator to assets

It's the latest big money music deal following Blackstone’s $1.6B Hipgnosis fund buy.

By Steve Randall
Social engagement platform for RIAs powers up with AI partnership
NEWS INDUSTRY NEWS AUG 26, 2024
Social engagement platform for RIAs powers up with AI partnership

Solution aims to streamline advisor workflow while remaining complaint.

By Steve Randall