Industry News

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David Canter stepping down as president of Bluespring
NEWS RIAS AUG 23, 2023
David Canter stepping down as president of Bluespring

Canter joined Bluespring only a year ago after spending nearly 13 years at Fidelity Investments.

By Ryan W. Neal
LPL continues strong recruiting from Securities America in 2023
NEWS BROKER DEALERS AUG 23, 2023
LPL continues strong recruiting from Securities America in 2023

LPL, Osaic and Cetera Financial Group are all 'fighting amongst themselves' to lure advisors, one recruiter notes.

By Bruce Kelly
Charles Schwab and billionaire ex-Franklin Resources CEO in clam shack scrap
NEWS INDUSTRY NEWS AUG 23, 2023
Charles Schwab and billionaire ex-Franklin Resources CEO in clam shack scrap

What happens when one financial titan wants beer with clams and another doesn’t?

By Matthew Sellers
To be or not to be like Buffett: Financial advisors weigh in
NEWS EQUITIES AUG 23, 2023
To be or not to be like Buffett: Financial advisors weigh in

Do as the Oracle of Omaha says, not as he does — that’s what advisors tend to believe when it comes to Warren Buffett.

By Gregg Greenberg
Hightower firm expands in Washington with $470M team
NEWS RIAS AUG 23, 2023
Hightower firm expands in Washington with $470M team

Highland Private Wealth Management's acquisition takes its AUM to $1.9B.

By Steve Randall
Avantax attracts $330M team to its employee-based model
NEWS RETIREMENT PLANNING AUG 23, 2023
Avantax attracts $330M team to its employee-based model

The two advisors and support staff join the firm in Minnesota.

By Steve Randall
US futures rise but markets await Nvidia, rate signals
NEWS INDUSTRY NEWS AUG 23, 2023
US futures rise but markets await Nvidia, rate signals

Data and Fed chair's Jackson Hole speech all ahead.

By Bloomberg
Gold continues to shine as a hedge against uncertainty
NEWS INDUSTRY NEWS AUG 23, 2023
Gold continues to shine as a hedge against uncertainty

Fund managers are holding or increasing allocations despite recent price decreases.

By Bloomberg
Why are big asset managers buying Japanese hotels?
NEWS INDUSTRY NEWS AUG 23, 2023
Why are big asset managers buying Japanese hotels?

Goldman Sachs, KKR, and Blackstone are among the firms loading up on the assets.

By Bloomberg
Gold IRA, rare coin sellers find a home with inexperienced investors
NEWS RETIREMENT PLANNING AUG 22, 2023
Gold IRA, rare coin sellers find a home with inexperienced investors

Regulators have taken numerous actions against metals dealers that target older customers through TV ads.

By Emile Hallez
Altruist vs. Altruist: An RIA claims digital custodian violates his trademark
NEWS RIAS AUG 22, 2023
Altruist vs. Altruist: An RIA claims digital custodian violates his trademark

Michigan RIA owner says case is a 'true David and Goliath situation' and that company name has caused significant confusion in the market.

By Ryan W. Neal
Arbitrators order Morgan Stanley to pay senior investor $1.8M
NEWS WIREHOUSES AUG 22, 2023
Arbitrators order Morgan Stanley to pay senior investor $1.8M

A broker in the firm's Garden City, New York, office put way too much WisdomTree stock in his aunt's portfolio.

By Mark Schoeff Jr.
Are LPL and Osaic in the hunt for the old United Capital?
NEWS RIAS AUG 22, 2023
Are LPL and Osaic in the hunt for the old United Capital?

One analyst pegs the purchase price for Goldman's RIA in the range of $270 million to $360 million.

By Bruce Kelly
Schwab to issue debt after news of job cuts
NEWS FIXED INCOME AUG 22, 2023
Schwab to issue debt after news of job cuts

The longest-dated portion of the firm's senior unsecured notes, an 11-year fixed-to-floating-rate note, may yield about 2.05 percentage points over Treasuries.

By Bloomberg
Raymond James adds $300 million advisor from Merrill
NEWS BROKER DEALERS AUG 22, 2023
Raymond James adds $300 million advisor from Merrill

Burdette Park will launch eponymous firm in Louisville, Kentucky.

By InvestmentNews
LPL adds UnionBanc advisor managing $385 million
NEWS BROKER DEALERS AUG 22, 2023
LPL adds UnionBanc advisor managing $385 million

Matthew Holbrook is joining Linsco and will launch Coastline Wealth Advisory in Irvine, California.

By InvestmentNews
Team of 16 advisors with $1.5B AUM switch firms to build on 14-year growth
NEWS BROKER DEALERS AUG 22, 2023
Team of 16 advisors with $1.5B AUM switch firms to build on 14-year growth

The firm, founded in 2009 during the financial crisis, is ready for its next phase.

By Steve Randall
Citigroup's Fraser weighs executive reshuffle after Ybarra exit
NEWS INDUSTRY NEWS AUG 22, 2023
Citigroup's Fraser weighs executive reshuffle after Ybarra exit

CEO Jane Fraser targets 'flatter and leaner' organization.

By Bloomberg
Most Americans don't know how long an average retirement lasts
NEWS RETIREMENT PLANNING AUG 22, 2023
Most Americans don't know how long an average retirement lasts

Clients want to talk about retirement planning, so let's start with one of the basics.

By Steve Randall
Nasdaq futures suggest enduring tech rally
NEWS INDUSTRY NEWS AUG 22, 2023
Nasdaq futures suggest enduring tech rally

Treasuries also steadied in early trade Tuesday.

By Bloomberg