Industry News

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'Roaring Kitty' orchestrated GameStop pump and dump, class action alleges
RIAS INDUSTRY NEWS JUL 01, 2024
'Roaring Kitty' orchestrated GameStop pump and dump, class action alleges

A federal lawsuit against the famed meme stock influencer alleges he purchased 120,000 options before re-emerging to post about the company in May.

By Bloomberg
RayJay amplifies Las Vegas presence with wirehouse superteam
RIAS INDUSTRY NEWS JUL 01, 2024
RayJay amplifies Las Vegas presence with wirehouse superteam

The ensemble joins the broker-dealer giant’s employee advisor channel after managing more than $1B at Morgan Stanley.

By Leo Almazora
SEC boots California RIA linked to crypto, private funds
RIAS INDUSTRY NEWS JUL 01, 2024
SEC boots California RIA linked to crypto, private funds

"Nobody knows what’s happening internally in these pooled funds at the retail level," said one plaintiff's attorney.

By Bruce Kelly
EP Wealth scoops $700M Texas practice
RIAS INDUSTRY NEWS JUL 01, 2024
EP Wealth scoops $700M Texas practice

The fast-growing RIA boosts its assets in the state past $1B as it welcomes a 23-year planning and investment veteran as its new regional director.

By Leo Almazora
LPL lands father-daughter advisor pair from Morgan Stanley
RIAS INDUSTRY NEWS JUL 01, 2024
LPL lands father-daughter advisor pair from Morgan Stanley

The independent wealth giant adds the two breakaway advisors, who managed roughly $290M at the wirehouse, in Washington DC.

By Leo Almazora
Asset manager taps former Vanguard $274B PM to lead ETF operations
INVESTING ETFS JUL 01, 2024
Asset manager taps former Vanguard $274B PM to lead ETF operations

After 14 years with Vanguard, Awais Khan has a new role.

By Steve Randall
Private Advisor Group picks up $155M advisor in Rochester, New York
RIAS INDUSTRY NEWS JUL 01, 2024
Private Advisor Group picks up $155M advisor in Rochester, New York

The practice works with investors at some big-name organizations.

By Steve Randall
Investors increasingly seeking alts but education is key, says Crewe CIO
INVESTING ALTERNATIVES JUL 01, 2024
Investors increasingly seeking alts but education is key, says Crewe CIO

Dustin Thackeray, CFA, shares his insights on the alternatives investment space.

By Steve Randall
BlackRock enhances alts data with $3.2B Preqin acquisition
RIAS INDUSTRY NEWS JUL 01, 2024
BlackRock enhances alts data with $3.2B Preqin acquisition

Asset manager will gain valuable insights into risks, opportunities.

By Bloomberg
Schroders, UBS Global Wealth both see growth of the same haven
RIAS INDUSTRY NEWS JUL 01, 2024
Schroders, UBS Global Wealth both see growth of the same haven

With geopolitical uncertainty, fiscal risk the firms expect rocky H2 2024.

By Bloomberg
EM bonds totaled $321B in first half of 2024, but slowdown is ahead
RIAS INDUSTRY NEWS JUL 01, 2024
EM bonds totaled $321B in first half of 2024, but slowdown is ahead

JPMorgan, BofA both see heavy braking for the market.

By Bloomberg
Her perspective is different, her objective is the same — a secure retirement
RIAS INDUSTRY NEWS JUL 01, 2024
Her perspective is different, her objective is the same — a secure retirement

Discover how women’s unique life experiences shape their approach to saving and investing. As they prepare for a secure retirement, understanding these nuances can help you guide your clients more effectively.

By Courtney Ellis
Michael Jackson passed away more than $500M in the red
RIAS INDUSTRY NEWS JUN 28, 2024
Michael Jackson passed away more than $500M in the red

Court filings by executors of his now $2B estate reveal the King of Pop’s dire financial straits at the time of his death in 2009.

By Leo Almazora
Ackman's US closed-end fund set to debut at $50 per share
RIAS INDUSTRY NEWS JUN 28, 2024
Ackman's US closed-end fund set to debut at $50 per share

Seeking $25B from retail investors, Pershing Square's upcoming offering could become the largest closed-end fund in the country.

By Bloomberg
Europe a better place to visit than invest, advisors say
RIAS INDUSTRY NEWS JUN 28, 2024
Europe a better place to visit than invest, advisors say

European stocks are inexpensive compared to US stocks and getting cheaper due to political turmoil.

By Gregg Greenberg
Advisors’ shuffle away from cash reaches its fifth year
INVESTING ETFS JUN 28, 2024
Advisors’ shuffle away from cash reaches its fifth year

Advyzon research reveals steady decline in advisors’ cash allocations, along with ETFs’ decisive victory over mutual funds.

By Leo Almazora
SEC's investor advocate warns of previously impossible scale and complexity of fraud   
RIAS INDUSTRY NEWS JUN 28, 2024
SEC's investor advocate warns of previously impossible scale and complexity of fraud   

Office of the Investor Advocate delivers FY2025 priorities report to Congress.

By Steve Randall
Morgan Stanley's Open AI-powered solution for advisors has expanded
RIAS FINTECH JUN 28, 2024
Morgan Stanley's Open AI-powered solution for advisors has expanded

Wall Street firm says advisor adoption of its solution is 98%.

By Steve Randall
Ether, Solana overshadowing Bitcoin as ETFs approach
RIAS INDUSTRY NEWS JUN 28, 2024
Ether, Solana overshadowing Bitcoin as ETFs approach

SEC expected to give full approval to new crypto funds.

By Bloomberg
Mexico opts to keep rates at 11% amid volatile peso
RIAS INDUSTRY NEWS JUN 28, 2024
Mexico opts to keep rates at 11% amid volatile peso

Governor hints at space for rate cuts ahead.

By Bloomberg