Industry News

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First Horizon names new head of wealth management, private banking
RIAS INDUSTRY NEWS APR 11, 2024
First Horizon names new head of wealth management, private banking

Experienced leader will lead the $65 billion wealth management unit.

By Steve Randall
Goldman Sachs loses another long-term senior leader
ADVISOR NEWS INDEPENDENT BROKER DEALERS APR 11, 2024
Goldman Sachs loses another long-term senior leader

FT reports that the firm's global treasurer is to join Millennium.

By Bloomberg
Goldman, Morgan Stanley now expect China to perform better
RIAS INDUSTRY NEWS APR 11, 2024
Goldman, Morgan Stanley now expect China to perform better

Wall Street analysts see opportunity as Chinese economy shows potential.

By Bloomberg
Among financial challenges, Americans say inflation hurts worst
RIAS INDUSTRY NEWS APR 10, 2024
Among financial challenges, Americans say inflation hurts worst

New survey reveals three-quarters feeling the pinch from higher prices, with economic uncertainty impacting tax refunds and spending plans.

By Leo Almazora
Fidelity unveils for-teens, by-teens thematic baskets
RIAS INDUSTRY NEWS APR 10, 2024
Fidelity unveils for-teens, by-teens thematic baskets

Billed as an industry first, the investing giant’s new thematic lineup targets three sectors and trends that are on next-gen investors’ radar.

By Leo Almazora
F.L.Putnam eyes a slice of high-net-worth trust service pie
RIAS INDUSTRY NEWS APR 10, 2024
F.L.Putnam eyes a slice of high-net-worth trust service pie

The Massachusetts-based RIA is expanding its wealth management offerings with a key deal in New Hampshire.

By Leo Almazora
Don’t repeat 2016 fiduciary rule mistake, NAIFA urges DOL
ADVISOR NEWS REGULATION AND LEGISLATION APR 10, 2024
Don’t repeat 2016 fiduciary rule mistake, NAIFA urges DOL

'Real-world experience' shows impact of fiduciary standard on Main Street investors, advisor association warns.

By Leo Almazora
LPL's Atria deal poses complexities: Report
ADVISOR NEWS INDEPENDENT BROKER DEALERS APR 10, 2024
LPL's Atria deal poses complexities: Report

Atria's financial advisors might be getting M&A 'whiplash,' one recruiter notes.

By Bruce Kelly
RIA Waverly scoops up $700M investment boutique
RIAS INDUSTRY NEWS APR 10, 2024
RIA Waverly scoops up $700M investment boutique

The fee-only RIA builds on its acquisition streak so far this year with its first foothold in Charlotte, North Carolina.

By Leo Almazora
Higher-than-expected core CPI likely pushes back Fed rate cuts
RIAS INDUSTRY NEWS APR 10, 2024
Higher-than-expected core CPI likely pushes back Fed rate cuts

The 0.4% rise in March's core consumer price index adds to evidence that progress on taming inflation may be stalling.

By Bloomberg
Fortis Capital Advisors acquires Chicago-based father-daughter firm
RIAS INDUSTRY NEWS APR 10, 2024
Fortis Capital Advisors acquires Chicago-based father-daughter firm

New addition expands the RIA firm’s national footprint.

By Steve Randall
Global VC funding down 30% amid investor concerns
RIAS INDUSTRY NEWS APR 10, 2024
Global VC funding down 30% amid investor concerns

Venture capital funding dropped 29% in the US, 40% in China, as slower economies, inflation weigh.

By Bloomberg
NYSE aims to attract 'exciting' Asian firms to list in US
INVESTING EQUITIES APR 10, 2024
NYSE aims to attract 'exciting' Asian firms to list in US

Firms from Japan, South Korea, Indonesia, and Singapore could appear.

By Bloomberg
Blackstone deal for apartment REIT signals opportunities
INVESTING ALTERNATIVES APR 09, 2024
Blackstone deal for apartment REIT signals opportunities

'It looks like Blackstone is value-investing and hunting,' a senior industry executive says.

By Bruce Kelly
Gen Z, millennials as likely to own crypto as real estate
RIAS INDUSTRY NEWS APR 09, 2024
Gen Z, millennials as likely to own crypto as real estate

Online poll of 4,000 adults reveals younger generations’ approaches to wealth-building, financial 'hacks,' and trusted financial sources.

By Leo Almazora
Three-fifths of millennials don't have a will or trust: Study
RIAS INDUSTRY NEWS APR 09, 2024
Three-fifths of millennials don't have a will or trust: Study

Survey of 15,000 millennials reveal a gap in generational planning as caregiving duties and homebuying struggles take their toll.

By Leo Almazora
Most US adults fear outliving their money more than death
ADVISOR NEWS RETIREMENT PLANNING APR 09, 2024
Most US adults fear outliving their money more than death

Concerns about inflation, Social Security, and taxes are stoking Americans’ financial anxiety, Allianz Life survey shows.

By Leo Almazora
Ron Carson stepping down as CEO of namesake RIA
RIAS INDUSTRY NEWS APR 09, 2024
Ron Carson stepping down as CEO of namesake RIA

The founder of the national wealth firm is handing over the reins to Burt White, former chief investment officer at LPL.

By Leo Almazora
West Virginia stops banking with Citi, Northern Trust, over fossil fuels
RIAS INDUSTRY NEWS APR 09, 2024
West Virginia stops banking with Citi, Northern Trust, over fossil fuels

The state treasurer added four financial services firms to a list of those ineligible to provide banking services to the state because he says they 'boycott' the fossil fuels industry.

By Bloomberg
Wealth Enhancement Group announces new leaders as client assets surpass $81B
RIAS INDUSTRY NEWS APR 09, 2024
Wealth Enhancement Group announces new leaders as client assets surpass $81B

BlackRock's former head of income investing is among the appointments.

By Steve Randall