Industry News

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Advisors take stock after AI shares suffer cruel summer
RIAS INDUSTRY NEWS AUG 08, 2024
Advisors take stock after AI shares suffer cruel summer

AI stocks have had a rough summer after a huge run higher. Are the good times over, or is this just a speed bump?

By Gregg Greenberg
For many US athletes, the road to the Olympics is paved with debt
RIAS INDUSTRY NEWS AUG 08, 2024
For many US athletes, the road to the Olympics is paved with debt

With no financial backing and limited incentives, aspiring Olympians are literally locked in a winner-take-all competition.

By Leo Almazora
RBC bags Merrill Lynch exec to lead Southern California recruitment
RIAS INDUSTRY NEWS AUG 08, 2024
RBC bags Merrill Lynch exec to lead Southern California recruitment

The wealth giant’s latest hire comes with over a decade of experience developing key markets in the Western US.

By Leo Almazora
Relief rally for stocks as markets digest jobless claims data
RIAS INDUSTRY NEWS AUG 08, 2024
Relief rally for stocks as markets digest jobless claims data

Initial data point to still-solid labor market, boosting hopes that the Federal Reserve isn't behind the curve.

By Bloomberg
Private Advisor Group teams up with succession tech platform
RIAS INDUSTRY NEWS AUG 08, 2024
Private Advisor Group teams up with succession tech platform

The $31.5B RIA and New Jersey-based branch office is helping its advisor community navigate the journey of continuity and succession planning.

By Leo Almazora
LPL welcomes back $535M boomerang team from Wells Fargo
RIAS INDUSTRY NEWS AUG 08, 2024
LPL welcomes back $535M boomerang team from Wells Fargo

The broker-dealer giant has extended its reach again in New Jersey as a trio of veteran advisors make their return.

By Leo Almazora
CV Advisors bolsters its bench with $800M UHNW family office veteran
RIAS INDUSTRY NEWS AUG 08, 2024
CV Advisors bolsters its bench with $800M UHNW family office veteran

The $11B RIA's latest hire from Valor Advisors comes with 18 years of experience, including tenures at JPMorgan and UBS.

By Leo Almazora
Hot List 2024: Entries now open
RIAS INDUSTRY NEWS AUG 08, 2024
Hot List 2024: Entries now open

InvestmentNews is searching for the leading professionals in the industry.

By IN Staff
Global bonds gain as markets await US labor report
RIAS INDUSTRY NEWS AUG 08, 2024
Global bonds gain as markets await US labor report

Growing concerns of US recession have increased volatility.

By Bloomberg
Empower earnings at new record as personal wealth, workplace units expand
RIAS INDUSTRY NEWS AUG 08, 2024
Empower earnings at new record as personal wealth, workplace units expand

The firm has seen earnings grow 19% year-over-year across its business.

By Steve Randall
Millions of homeowners may be redirecting home equity into other investments
RIAS INDUSTRY NEWS AUG 08, 2024
Millions of homeowners may be redirecting home equity into other investments

But it could prove risky if investments perform worse than their real estate assets.

By Steve Randall
US stocks belie upbeat corporate earnings season
RIAS INDUSTRY NEWS AUG 08, 2024
US stocks belie upbeat corporate earnings season

Earnings sentiment remains high among US investors.

By Bloomberg
JPMorgan says most of global carry trade now removed
RIAS INDUSTRY NEWS AUG 08, 2024
JPMorgan says most of global carry trade now removed

Year-to-date returns have been wiped out.

By Bloomberg
Cryptos gain as market calls Ripple outcome a victory over SEC
RIAS INDUSTRY NEWS AUG 08, 2024
Cryptos gain as market calls Ripple outcome a victory over SEC

Financial penalty was well below the $2B sought.

By Bloomberg
SEI beefs up its managed accounts shelf again
RIAS INDUSTRY NEWS AUG 07, 2024
SEI beefs up its managed accounts shelf again

The asset manager has added direct index and factor investment offerings, including fixed income and dividend-focused options, to its SMAs and UMAs.

By Leo Almazora
Former Vanguard consultant launches new firm to support RIAs
RIAS INDUSTRY NEWS AUG 07, 2024
Former Vanguard consultant launches new firm to support RIAs

“By supporting our RIA partners, we can help them differentiate themselves and drive growth.”

By Josh Welsh
Osaic hybrid adds Fidelity's National Financial as custodian
ADVISOR NEWS INDEPENDENT BROKER DEALERS AUG 07, 2024
Osaic hybrid adds Fidelity's National Financial as custodian

The activity at Osaic comes as the wealth management market waits to see if an IPO is in the firm's future.

By Bruce Kelly
Blackstone setting sights on affluent investors with infrastructure fund
RIAS INDUSTRY NEWS AUG 07, 2024
Blackstone setting sights on affluent investors with infrastructure fund

Regulatory filing teases the private investment giant's plans to attract a higher stratum of accredited investors than its rivals.

By Leo Almazora
CFP Board bars ex-advisor in New Hampshire over risky real estate investments
RIAS INDUSTRY NEWS AUG 07, 2024
CFP Board bars ex-advisor in New Hampshire over risky real estate investments

The former advisor reportedly placed his clients, including many retirees, in a leveraged product that led to $3.4M in losses.

By Leo Almazora
Apollon seals deal for DeHollander Financial Group
RIAS INDUSTRY NEWS AUG 07, 2024
Apollon seals deal for DeHollander Financial Group

The fee-based advisory services provider is extending its reach into South Carolina as it acquires a veteran-led planning team.

By Leo Almazora