Industry News

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Gunman appeared in BlackRock commercial
RIAS INDUSTRY NEWS JUL 15, 2024
Gunman appeared in BlackRock commercial

Firm says it will remove the 2022 ad from circulation.

By Bloomberg
Wall Street says climate activists' arguments are flawed
RIAS INDUSTRY NEWS JUL 15, 2024
Wall Street says climate activists' arguments are flawed

Finance firms insist they are driving the transition to clean energy.

By Bloomberg
IRS hauls more than $1B in back taxes from ultra-high earners
RIAS INDUSTRY NEWS JUL 12, 2024
IRS hauls more than $1B in back taxes from ultra-high earners

With tens of billions in funding, the federal tax agency has waged a collection campaign against thousands of delinquent seven-figure income-earners.

By Leo Almazora
REIT index returns show continued pain in real estate
RIAS INDUSTRY NEWS JUL 12, 2024
REIT index returns show continued pain in real estate

Q2 performance figures show losses in the REIT space, led by casualties in the industrial and hotel sectors.

By Leo Almazora
Wells Fargo slides as higher-than-expected costs tarnish quarterly results
RIAS INDUSTRY NEWS JUL 12, 2024
Wells Fargo slides as higher-than-expected costs tarnish quarterly results

After the disappointing data point, the lending giant suffered a single-day drop reminiscent of last year's regional banking crisis.

By Bloomberg
Wells Fargo's focus on independent advisors taking shape
ADVISOR NEWS INDEPENDENT BROKER DEALERS JUL 12, 2024
Wells Fargo's focus on independent advisors taking shape

"FiNet has made very noticeable increases in support staffing to practices," said one industry source.

By Bruce Kelly
Market watchers look ahead to party conventions with eyes on bottom line
RIAS INDUSTRY NEWS JUL 12, 2024
Market watchers look ahead to party conventions with eyes on bottom line

Financial strategists and fund managers weigh in on how the race for the White House will impact their portfolios.

By Gregg Greenberg
RBC Wealth Management expands with $640M Merrill Lynch team
RIAS INDUSTRY NEWS JUL 12, 2024
RBC Wealth Management expands with $640M Merrill Lynch team

The firm’s latest additions, led by a veteran with more than three decades’ experience, come during a pivotal transition for its broader organization.

By Leo Almazora
Arete tightens its ties with BNY Pershing
RIAS INDUSTRY NEWS JUL 12, 2024
Arete tightens its ties with BNY Pershing

The $6B IBD and RIA is expanding its partnership with new long-term agreements, including access to an integrated wealth management platform.

By Leo Almazora
JPMorgan posts profit record on Visa gain, dealmaking revival
RIAS INDUSTRY NEWS JUL 12, 2024
JPMorgan posts profit record on Visa gain, dealmaking revival

The banking giant shattered expectations across its Wall Street businesses, including $2.4B in investment banking fees.

By Bloomberg
New Technology Report closes this week
RIAS INDUSTRY NEWS JUL 12, 2024
New Technology Report closes this week

Search for the industry’s best wealth technology and software ends soon.

By IN Staff
Wealth Enhancement Group gains first foothold in Utah
RIAS INDUSTRY NEWS JUL 12, 2024
Wealth Enhancement Group gains first foothold in Utah

The national independent wealth firm has acquired a $272M planning team in Farmington, pushing its client assets past $85.7B.

By Leo Almazora
Insurance distributor appoints veteran leader for $46B wealth management unit
RIAS INDUSTRY NEWS JUL 12, 2024
Insurance distributor appoints veteran leader for $46B wealth management unit

New hire has international experience across major name financial firms.

By Steve Randall
National $25.9B AUM RIA firm launches trust company in 'favorable' jurisdiction
RIAS INDUSTRY NEWS JUL 12, 2024
National $25.9B AUM RIA firm launches trust company in 'favorable' jurisdiction

The firm says expansion of its services will be powered by technology.

By Steve Randall
S&P futures stabilize ahead of Wall Street earnings
RIAS INDUSTRY NEWS JUL 12, 2024
S&P futures stabilize ahead of Wall Street earnings

Expectation of earnings broadening out from megacap big tech.

By Bloomberg
Treasuries erase 2024 losses amid rate cut bets
RIAS INDUSTRY NEWS JUL 12, 2024
Treasuries erase 2024 losses amid rate cut bets

Inflation data is driving expectation of Fed action ahead.

By Bloomberg
Wall Street banking chief welcomed with $41M in stocks
RIAS INDUSTRY NEWS JUL 12, 2024
Wall Street banking chief welcomed with $41M in stocks

Shares will awarded over a five year period.

By Bloomberg
Gold remains above $2400 after biggest gain since March
RIAS INDUSTRY NEWS JUL 12, 2024
Gold remains above $2400 after biggest gain since March

Wider precious metals market is mixed.

By Bloomberg
Energy investors looking for a gusher in second half
RIAS INDUSTRY NEWS JUL 11, 2024
Energy investors looking for a gusher in second half

Oil and natural gas stocks have lagged so far in 2024 as technology has led the way. Energy investors expect that to change in the months ahead.

By Gregg Greenberg
GPB execs goosed records to pump sales, partner claims
INVESTING ALTERNATIVES JUL 11, 2024
GPB execs goosed records to pump sales, partner claims

"I wanted it to end," said former senior GPB executive on Thursday.

By Bruce Kelly