Industry News

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What will the end of noncompete agreements mean for advisors?
RIAS INDUSTRY NEWS MAY 14, 2024
What will the end of noncompete agreements mean for advisors?

A bill in New York City, in addition to the new FTC rule, could be good news for restless advisors.

By Emile Hallez
Veteran leader Desiree Sii departs Osaic
ADVISOR NEWS INDEPENDENT BROKER DEALERS MAY 14, 2024
Veteran leader Desiree Sii departs Osaic

'Does Osaic really need these redundancies in management,' asked one industry executive.

By Bruce Kelly
Powell preaches patience as he reiterates higher-for-longer stance
RIAS INDUSTRY NEWS MAY 14, 2024
Powell preaches patience as he reiterates higher-for-longer stance

The Federal Reserve chair sees continuing need for hawkish rate hold amid sticky inflation and continuing strength in the jobs market.

By Bloomberg
RBC lures two ex-Merrill Lynch teams in the Northeast
RIAS INDUSTRY NEWS MAY 14, 2024
RBC lures two ex-Merrill Lynch teams in the Northeast

Collectively, the two veteran advisor groups in Maryland are bringing around $900M in client assets to RBC’s wealth advisory business.

By Leo Almazora
William Blair scores $1.2B multigenerational team
RIAS INDUSTRY NEWS MAY 14, 2024
William Blair scores $1.2B multigenerational team

The firm expands its private wealth presence in Philadelphia, Pennsylvania with a veteran trio of high-net-worth advisors from Raymond James.

By Leo Almazora
Family offices have 'dangerous gaps' in risk management, report warns
RIAS INDUSTRY NEWS MAY 14, 2024
Family offices have 'dangerous gaps' in risk management, report warns

Teams are facing multiple risks, but lack resources to keep on top of them.

By Steve Randall
GSAM's Petershill program backs $4B real assets investment manager
RIAS INDUSTRY NEWS MAY 14, 2024
GSAM's Petershill program backs $4B real assets investment manager

The Wall Street firm's investment will help accelerate strategic development.

By Steve Randall
Clients' kids seeking summer jobs? CFTC warns about 'money mules' recruitment
RIAS INDUSTRY NEWS MAY 14, 2024
Clients' kids seeking summer jobs? CFTC warns about 'money mules' recruitment

Students and others seeking extra income could become victims.

By Steve Randall
Stock rally vulnerable to stagflation: BofA strategist
RIAS INDUSTRY NEWS MAY 14, 2024
Stock rally vulnerable to stagflation: BofA strategist

This week's CPI data could add to the risk.

By Bloomberg
Goldman Sachs eyes Gulf opportunities for wealthy clients
RIAS INDUSTRY NEWS MAY 14, 2024
Goldman Sachs eyes Gulf opportunities for wealthy clients

Wall Street firm plans to launch new strategies focused on the region.

By Bloomberg
US IPOs to pause after raising $1B in five weeks
RIAS INDUSTRY NEWS MAY 14, 2024
US IPOs to pause after raising $1B in five weeks

The rest of the year may see a stream rather than a tidal wave.

By Bloomberg
Why trust is at the core of financial planning
RIAS INDUSTRY NEWS MAY 13, 2024
Why trust is at the core of financial planning

InvestmentNews Awards 2024, Advisor of the Year – Alternative Investments: Joseph Spada, Summit Financial.

By Josh Welsh
'Altruistic relationship' with clients key to advisor's success
RIAS INDUSTRY NEWS MAY 13, 2024
'Altruistic relationship' with clients key to advisor's success

InvestmentNews Awards 2024, Advisor of the Year (Midwest region): MaryAnn Pietromonaco, Morgan Stanley.

By Josh Welsh
Perigon taps Maria Daley for new advisor-focused role
RIAS PRACTICE MANAGEMENT MAY 13, 2024
Perigon taps Maria Daley for new advisor-focused role

Daley brings more than three decades’ experience to the independent wealth firm as its head of advisor success and integration.

By Leo Almazora
Cambridge's new RIA sets floor to make a deal
RIAS PRACTICE MANAGEMENT MAY 13, 2024
Cambridge's new RIA sets floor to make a deal

'The advisor wants to get out of the business at 65 or 70 but clients will live to be around till 90,' says one banker.

By Bruce Kelly
Bracing clients for higher taxes
RIAS INDUSTRY NEWS MAY 13, 2024
Bracing clients for higher taxes

Todd Moll, of Provenance Wealth Advisors, prepares clients for the future by ensuring his team of professionals are tightly synchronized.

By Emily Douglas
Freestone signs industry veteran in war for RIA talent
RIAS INDUSTRY NEWS MAY 13, 2024
Freestone signs industry veteran in war for RIA talent

The Seattle-based wealth firm’s latest hire comes with a professional history at big names like Goldman Sachs, UBS, and Wells Fargo.

By Leo Almazora
Park Avenue Securities launches new high-net-worth group
RIAS INDUSTRY NEWS MAY 13, 2024
Park Avenue Securities launches new high-net-worth group

The subsidiary broker-dealer and RIA to life insurance giant Guardian is enhancing its holistic wealth service for HNWIs.

By Leo Almazora
SEC, FinCEN float new anti-money laundering requirements for RIAs
ADVISOR NEWS REGULATION AND LEGISLATION MAY 13, 2024
SEC, FinCEN float new anti-money laundering requirements for RIAs

Proposed rule aims to tighten client information and verification processes in order to curb risks from money laundering and other illicit activities.

By Leo Almazora
Edelman snaps up $453M investment advisory firm
RIAS INDUSTRY NEWS MAY 13, 2024
Edelman snaps up $453M investment advisory firm

The Washington-based firm catering to medical and technology professionals gives the RIA giant an additional foothold in the Pacific Northwest.

By Leo Almazora