Industry News

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Crypto back in favor for Goldman's hedge fund clients
NEWS ALTERNATIVES MAR 25, 2024
Crypto back in favor for Goldman's hedge fund clients

After a quiet 2022, interest is rising in cryptocurrency assets.

By Bloomberg
Principal on the hook for up to $5M related to alleged churning
NEWS BROKER DEALERS MAR 22, 2024
Principal on the hook for up to $5M related to alleged churning

A Minnesota-based foundation's lawsuit against the firm centers on an unnamed ex-broker's alleged churning of variable annuities.

By Bruce Kelly
Advisors increasing allocations as small-caps rally
NEWS INDUSTRY NEWS MAR 22, 2024
Advisors increasing allocations as small-caps rally

The chasm that has formed between large-cap and small-cap stocks is indeed compressing, making this the ideal time to put money to work. 

By Gregg Greenberg
Washington advisor sues Hightower over noncompete language
NEWS INDUSTRY NEWS MAR 22, 2024
Washington advisor sues Hightower over noncompete language

The firm is facing a fresh challenge over alleged 'overly broad' and 'illegal' noncompete agreements.

By Leo Almazora
Mutual funds, ETFs are taking a smaller bite out of returns as expense ratios fall
NEWS MUTUAL FUNDS MAR 22, 2024
Mutual funds, ETFs are taking a smaller bite out of returns as expense ratios fall

2023 continued a long-term trend of decreasing expense ratios.

By Steve Randall
Former head of BlackRock's $1T US wealth management business joins specialized firm
NEWS INDUSTRY NEWS MAR 22, 2024
Former head of BlackRock's $1T US wealth management business joins specialized firm

Frank Porcelli has a new role at a private credit and secondaries investment firm.

By Steve Randall
US heavy industries to get billions in decarbonization grants
NEWS ESG MAR 22, 2024
US heavy industries to get billions in decarbonization grants

More than $6B could be awarded to projects that cut emissions.

By Bloomberg
All kinds of B-Ds, not just the giants, are making deals
NEWS BROKER DEALERS MAR 21, 2024
All kinds of B-Ds, not just the giants, are making deals

'Those offers from smaller firms don’t always get as high as those from the bigger players, but they are pretty darn close,' says a recruiter.

By Bruce Kelly
Pensionmark announces strategic partnership to build new wealth management platform
NEWS RETIREMENT PLANNING MAR 21, 2024
Pensionmark announces strategic partnership to build new wealth management platform

The firm is working with Vestmark to help shape the industry's future.

By Steve Randall
Apollo Global reportedly offering $11B for Hollywood studio
NEWS INDUSTRY NEWS MAR 21, 2024
Apollo Global reportedly offering $11B for Hollywood studio

Private equity firm is said to want Paramount Global's studio operations.

By Bloomberg
Fed 'Goldilocks' strategy still in play, says Goldman Sachs
NEWS INDUSTRY NEWS MAR 21, 2024
Fed 'Goldilocks' strategy still in play, says Goldman Sachs

Global stocks and bonds gained following the Fed's announcement.

By Bloomberg
Americans still flunking financial literacy
NEWS INDUSTRY NEWS MAR 20, 2024
Americans still flunking financial literacy

Financial education provider’s latest annual test results show marginal improvement among younger takers, with less than half passing.

By Leo Almazora
More clients making wealth transfer plans a family affair
NEWS INDUSTRY NEWS MAR 20, 2024
More clients making wealth transfer plans a family affair

Edward Jones research gives an advisor-eye view of shifting trends in wealth transfer conversations and clients’ planning priorities.

By Leo Almazora
RIA gold rush fever is over: Report
NEWS RIAS MAR 20, 2024
RIA gold rush fever is over: Report

'What’s missing in most cases of deals is that firms aren’t integrating the RIAs they are buying,' Mark Tibergien says.

By Bruce Kelly
Citi taps former UBS exec to head family office unit
NEWS BROKER DEALERS MAR 20, 2024
Citi taps former UBS exec to head family office unit

The firm is tapping the veteran business-builder and reshuffling key members of its wealth unit as it looks to bolster its UHNW division.

By Leo Almazora
DeVoe & Co. names new marketing head
NEWS INDUSTRY NEWS MAR 20, 2024
DeVoe & Co. names new marketing head

The RIA-focused consultancy’s executive hire joins with more than 20 years of experience.

By Leo Almazora
Citi pays Andy Sieg $11.3M for first 3 months as wealth head
NEWS BROKER DEALERS MAR 20, 2024
Citi pays Andy Sieg $11.3M for first 3 months as wealth head

The size of award underscores Citi's desire to overhaul its struggling wealth division.

By Bloomberg
US equity investors increase risk appetite: S&P Global
NEWS INDUSTRY NEWS MAR 20, 2024
US equity investors increase risk appetite: S&P Global

S&P Global report shows expectations for returns have declined.

By Steve Randall
Bank customers are concerned about overregulation: ABA report
NEWS REGULATION AND LEGISLATION MAR 20, 2024
Bank customers are concerned about overregulation: ABA report

A banking industry survey reveals a high satisfaction with financial institutions.

By Steve Randall
Luxury stocks decline, market awaits Fed rates decision
NEWS INDUSTRY NEWS MAR 20, 2024
Luxury stocks decline, market awaits Fed rates decision

The latest Federal Open Market Committee decision on rates is due at 2 p.m. in Washington.

By Bloomberg