Industry News

Displaying 35408 results
10 of the greatest unretirements of all time
NEWS RETIREMENT PLANNING OCT 18, 2022
10 of the greatest unretirements of all time

Here are a few celebrities who announced their retirements, then subsequently announced they were reversing that decision.

By Gregg Greenberg
What’s new for Medicare open enrollment
NEWS RETIREMENT PLANNING OCT 17, 2022
What’s new for Medicare open enrollment

Most beneficiaries don't switch plans during the annual open enrollment period, but retirees can save money by reviewing their drug coverage options.

By Mary Beth Franklin
Merrill achieves record third quarter despite market volatility
NEWS WIREHOUSES OCT 17, 2022
Merrill achieves record third quarter despite market volatility

Both revenue and adviser head count increased, and Andy Sieg, president of Merrill Lynch Wealth Management, attributed the strong results partly to the firm's advisers.

By Mark Schoeff Jr.
Market sell-off puts mutual funds on track for $1 trillion of outflows in 2022
NEWS RIAS OCT 17, 2022
Market sell-off puts mutual funds on track for $1 trillion of outflows in 2022

The appeal of the old-school fund wrapper is taking a big hit as investors and advisers move to the sidelines.

By Jeff Benjamin
UBS nabs $1 billion Morgan Stanley trio
NEWS RIAS OCT 17, 2022
UBS nabs $1 billion Morgan Stanley trio

The three-adviser, five-person team, Narragansett Bay Group, makes the switch in Providence, Rhode Island.

By InvestmentNews
BofA beats loan-revenue estimates amid rising rates
NEWS WIREHOUSES OCT 17, 2022
BofA beats loan-revenue estimates amid rising rates

Net interest income rose 24% in the third quarter as the bank reaps the benefits of the Fed's interest rate hikes.

By Bloomberg
Goldman plans major reorganization
NEWS INDUSTRY NEWS OCT 17, 2022
Goldman plans major reorganization

The firm will combine its asset management and private wealth businesses, and also fuse investment banking and trading.

By Bloomberg
How Does Real Estate Fit Into a Retirement Income Plan?
NEWS INDUSTRY NEWS OCT 17, 2022
How Does Real Estate Fit Into a Retirement Income Plan?

Direct real estate investment can a be a income source, but there are risks for your clients to consider.

By InvestmentNews Create
Amid 2022 slowdown, RIA and tech SPAC deals sputter
NEWS RIAS OCT 14, 2022
Amid 2022 slowdown, RIA and tech SPAC deals sputter

The promise of cold, hard cash tends to speed up time but how does that work in a bear market?

By Bruce Kelly
$600 million Wells Fargo team moves to RBC
NEWS RIAS OCT 14, 2022
$600 million Wells Fargo team moves to RBC

The four advisers, who make the switch in Fargo, North Dakota, provide high-net-worth families and businesses with wealth planning strategies.

By InvestmentNews
Morgan Stanley CEO hints at job cuts
NEWS PRACTICE MANAGEMENT OCT 14, 2022
Morgan Stanley CEO hints at job cuts

The firm is assessing its head count, CEO James Gorman suggested on an earnings conference call.

By Bloomberg
Morgan Stanley rides wealth management as a third-quarter highlight
NEWS WIREHOUSES OCT 14, 2022
Morgan Stanley rides wealth management as a third-quarter highlight

The wealth management group attracted $65 billion in net new asset during the quarter, pushing the total this year to $260 billion.

By Jeff Benjamin
Wells Fargo's advisers maintain revenue despite difficult markets, shrinking head count
NEWS WIREHOUSES OCT 14, 2022
Wells Fargo's advisers maintain revenue despite difficult markets, shrinking head count

The wirehouse employed a total of 12,011 financial advisers at the end of September, a loss of 173 advisers in Q3.

By Ryan W. Neal
Creative deal structures keep M&A volume high, but for how long?
NEWS OPINION OCT 14, 2022
Creative deal structures keep M&A volume high, but for how long?

Fundamental rationales for mergers and acquisitions remain strong, but deal details reflect current market realities.

By Scott Hanson
JPMorgan posts highest net interest income ever in Q3, raises guidance for year
NEWS INDUSTRY NEWS OCT 14, 2022
JPMorgan posts highest net interest income ever in Q3, raises guidance for year

The firm reaps rewards from the Federal Reserve's interest rate hike while expenses also came in lower than analysts expected, driving a profit beat.

By Bloomberg
Financial industry must persuade determined DOL to protect independent-contractor advisers
NEWS BROKER DEALERS OCT 13, 2022
Financial industry must persuade determined DOL to protect independent-contractor advisers

The Department of Labor may not be inclined to change a proposal that would potentially upend the business model for independent broker-dealers and insurance agents.

By Mark Schoeff Jr.
Daughter of New York Ponzi schemer gets more than 6 years in prison
NEWS BROKER DEALERS OCT 13, 2022
Daughter of New York Ponzi schemer gets more than 6 years in prison

Over two decades, Vania May Bell and her father Hector May 'ruthlessly orchestrated' a multimillion-dollar Ponzi scheme, according to the Feds.

By Bruce Kelly
Prospera Financial names Tarah Williams president
NEWS BROKER DEALERS OCT 13, 2022
Prospera Financial names Tarah Williams president

Williams, who will continue as chief operating officer, assumes the presidency from David Stringer.

By InvestmentNews
Satisfaction down, regret up for insurance and annuity owners, says J.D. Power study
NEWS LIFE INSURANCE AND ANNUITIES OCT 13, 2022
Satisfaction down, regret up for insurance and annuity owners, says J.D. Power study

Customer satisfaction drops soon after life insurance and annuities are purchased according to a new survey.

By Gregg Greenberg
Mega Merrill team managing $4.5 billion goes RIA
NEWS RIAS OCT 13, 2022
Mega Merrill team managing $4.5 billion goes RIA

Ash Chopra launches Syon Capital and most of the 10 professionals joining him in the move were team members at Merrill.

By InvestmentNews