Industry News

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Are investors holding back on decisions until after the election?
NEWS INDUSTRY NEWS SEP 06, 2024
Are investors holding back on decisions until after the election?

Barometer of investor sentiment also reveals bullish/bearish split.

By Steve Randall
US jobs report awaited, likely hiring bounce to spark Fed cut
NEWS INDUSTRY NEWS SEP 06, 2024
US jobs report awaited, likely hiring bounce to spark Fed cut

Economists believe stats will make rate cut more likely.

Metals to remain constrained until post-election, Citi expects
NEWS INDUSTRY NEWS SEP 06, 2024
Metals to remain constrained until post-election, Citi expects

Global risk appetite unlikely to rise until presidential result is known.

Buffett's $7B BofA backout, but why?
NEWS INDUSTRY NEWS SEP 06, 2024
Buffett's $7B BofA backout, but why?

Berkshire Hathaway has liquidated another $760M of the bank's stock.

For three-quarters of Americans, wedding debt isn't worth it
NEWS INDUSTRY NEWS SEP 05, 2024
For three-quarters of Americans, wedding debt isn't worth it

New Empower research unpacks financial attitudes around wedding ceremonies and gift-giving, with millennials and Gen Z diverging from older generations.

By Leo Almazora
Trump Media's 69 percent stock drop erases billions before lockup lapses
NEWS EQUITIES SEP 05, 2024
Trump Media's 69 percent stock drop erases billions before lockup lapses

The downward spiral in Donald Trump's media empire slashes his paper gains by more than $3.7B, just days before he gets the all-clear to cash out.

By Bloomberg
The pros of CFP certification? It's not just higher pay
NEWS PRACTICE MANAGEMENT SEP 05, 2024
The pros of CFP certification? It's not just higher pay

CFP Board survey reveals trends in financial planners' compensation and work-life balance, with differences based on experience, where they work and other factors.

By Leo Almazora
Commerce Secretary Wilbur Ross reflects on Washington, Wall Street and Trump
NEWS INDUSTRY NEWS SEP 05, 2024
Commerce Secretary Wilbur Ross reflects on Washington, Wall Street and Trump

Once known as Wall Street's "King of Bankruptcy," Wilbur Ross discusses his journey from billionaire investor to Trump's Secretary of Commerce.

By Gregg Greenberg
Fake South Florida advisors target Venezuelan-Americans in scheme, SEC alleges
NEWS REGULATION AND LEGISLATION SEP 05, 2024
Fake South Florida advisors target Venezuelan-Americans in scheme, SEC alleges

Be dubious about investment professionals who are marketing investments through an affinity group, one industry executive says.

By Bruce Kelly
BNY snaps up managed accounts provider Archer
NEWS FINTECH SEP 05, 2024
BNY snaps up managed accounts provider Archer

The deal for the wealth tech platform will boost the firm's efforts to push its strategies more broadly among retail wealth advisors and their clients.

By Bloomberg
Vestwell adds first annuity option for 401(k)s, from TIAA
NEWS LIFE INSURANCE AND ANNUITIES SEP 05, 2024
Vestwell adds first annuity option for 401(k)s, from TIAA

Next year, the firm will add a lifetime income feature paired with a target-date series that lets customers buy annuities or take distributions at retirement.

By Emile Hallez
How can RIAs use social media effectively?
NEWS PRACTICE MANAGEMENT SEP 05, 2024
How can RIAs use social media effectively?

What makes for good content and what represents a good engagement rate?

By Josh Welsh
Kamala Harris takes softer stance on capital gains tax
NEWS TAX SEP 05, 2024
Kamala Harris takes softer stance on capital gains tax

The vice president's latest proposal splits from the Biden administration with a more modest hike for million-dollar earners, plus incentives for small businesses.

By Leo Almazora
Trump tax cut costs could outstrip all federal agencies combined
NEWS TAX SEP 05, 2024
Trump tax cut costs could outstrip all federal agencies combined

The assortment of tax proposals from the Republican presidential nominee would add up to as much as $10.5T, according to preliminary estimates.

By Bloomberg
Wealth Enhancement Group scoops up $1.3B hybrid RIA
NEWS RIAS SEP 05, 2024
Wealth Enhancement Group scoops up $1.3B hybrid RIA

The deal for Levy Wealth Management in Philadelphia marks its ninth Pennsylvania location and vaults it past the $90B AUM mark.

By Leo Almazora
WFA drafts professional sports vets to champion financial literacy for young athletes
NEWS RIAS SEP 05, 2024
WFA drafts professional sports vets to champion financial literacy for young athletes

The two new hires, including a seven-year pro football veteran from the Cincinatti Bengals, add to the Louisiana-based planning team's bench of specialists for professional athletes.

By Leo Almazora
AssetMark taps industry veteran Lou Maiuri in new growth chapter
NEWS FINTECH SEP 05, 2024
AssetMark taps industry veteran Lou Maiuri in new growth chapter

After the completion of its $2.7B take-private deal with GTCR, the fintech firm is looking forward to a new era of strategic expansion helmed by the former State Street leader.

By Leo Almazora
Baird boosts Virginia presence with Edelman alum
NEWS BROKER DEALERS SEP 05, 2024
Baird boosts Virginia presence with Edelman alum

With nearly 25 years of experience, the employee-owned firm's latest hire in Fairfax reportedly managed over $293M in assets.

By Leo Almazora
SEC rules will make Treasuries market safer, but may cut trading volumes as costs rise
NEWS INDUSTRY NEWS SEP 05, 2024
SEC rules will make Treasuries market safer, but may cut trading volumes as costs rise

Market participants give view on fast-approaching mandatory central clearing.

By Steve Randall
What does it actually feel like to be wealthy? Millionaires says its not about being rich
NEWS INDUSTRY NEWS SEP 05, 2024
What does it actually feel like to be wealthy? Millionaires says its not about being rich

Study shows that having money is only part of financial security.

By Steve Randall