Industry News

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UBS wants court to erase $1.9B asset-hiding fine
ADVISOR NEWS WIREHOUSES SEP 27, 2023
UBS wants court to erase $1.9B asset-hiding fine

The asset manager is appealing its conviction for helping wealthy clients with cross-border cash moves.

By Bloomberg
70M could become digital nomads in the next few years
RIAS INDUSTRY NEWS SEP 27, 2023
70M could become digital nomads in the next few years

Digital nomad visas are expanding as countries vie for talent.

By Bloomberg
Morgan Stanley banker to retire after $850B in real estate deals
RIAS PRACTICE MANAGEMENT SEP 27, 2023
Morgan Stanley banker to retire after $850B in real estate deals

Guy Metcalf has been with the Wall Street firm for 33 years.

By Bloomberg
Billionaire plans $50M auction for rare 1982 Château Petrus
RIAS INDUSTRY NEWS SEP 27, 2023
Billionaire plans $50M auction for rare 1982 Château Petrus

"The market for the rarest and most exclusive bottles remains strong," says Sotheby's executive.

By Bloomberg
Trump guilty of financial, insurance fraud
ADVISOR NEWS REGULATION AND LEGISLATION SEP 26, 2023
Trump guilty of financial, insurance fraud

Former president loses New York lawsuit as judge describes 'fantasy world.'

By Matthew Sellers
JPMorgan pays $75M to settle US Virgin Islands suit over Epstein ties
ADVISOR NEWS REGULATION AND LEGISLATION SEP 26, 2023
JPMorgan pays $75M to settle US Virgin Islands suit over Epstein ties

The firm also reached a confidential agreement with former executive Jes Staley.

By Bloomberg
Berkshire engineering firm gets reprieve in 401(k) suit
ADVISOR NEWS RETIREMENT PLANNING SEP 26, 2023
Berkshire engineering firm gets reprieve in 401(k) suit

Law firm Capozzi Adler has three weeks to file an amended complaint after a judge grants a motion to dismiss.

By InvestmentNews
Wealthspire reels in $6B in assets with GM Advisory purchase
RIAS INDUSTRY NEWS SEP 26, 2023
Wealthspire reels in $6B in assets with GM Advisory purchase

This is Wealthspire's third deal for a registered investment advisory firm this year.

By Bruce Kelly
$500M Louisiana team joins Raymond James
ADVISOR NEWS INDEPENDENT BROKER DEALERS SEP 26, 2023
$500M Louisiana team joins Raymond James

The five advisors will operate as Meyer Rotolo Wealth Management.

By InvestmentNews
'Cash Flow King' podcast host charged with running $11M Ponzi scheme
ADVISOR NEWS REGULATION AND LEGISLATION SEP 26, 2023
'Cash Flow King' podcast host charged with running $11M Ponzi scheme

Matthew Motil is accused by the SEC of fraudulently raising money from investors.

By Steve Randall
Edward Jones picks up experienced $289M advisor from Charles Schwab
ADVISOR NEWS INDEPENDENT BROKER DEALERS SEP 26, 2023
Edward Jones picks up experienced $289M advisor from Charles Schwab

The advisor was with Schwab for 14 years following a military career.

By Steve Randall
Inflation is forcing some Americans to forego medical treatment
ADVISOR NEWS RETIREMENT PLANNING SEP 26, 2023
Inflation is forcing some Americans to forego medical treatment

Millions of people are likely already struggling to pay medical bills, report reveals.

By Steve Randall
Is private equity taking too many risks with debt structure?
RIAS INDUSTRY NEWS SEP 26, 2023
Is private equity taking too many risks with debt structure?

Some investors are concerned about industry and even financial system risk.

By Bloomberg
Curb biodiversity losses, $24T investors urge global firms
RIAS INDUSTRY NEWS SEP 26, 2023
Curb biodiversity losses, $24T investors urge global firms

100 companies are in the sights of powerful alliance of investors.

By Bloomberg
UBS hires trading veteran for US execution hub
RIAS INDUSTRY NEWS SEP 26, 2023
UBS hires trading veteran for US execution hub

The unit helps asset managers and hedge funds outsource trading desks.

By Bloomberg
Morgan Stanley says luxury industry heading for downturn
RIAS INDUSTRY NEWS SEP 26, 2023
Morgan Stanley says luxury industry heading for downturn

Wall St. firm says demand for luxury items is set to slow.

By Bloomberg
All Schwab’s bond ETFs now cost just 3 basis points
INVESTING MUTUAL FUNDS SEP 25, 2023
All Schwab’s bond ETFs now cost just 3 basis points

The company is cutting fees on two fixed-income exchange-traded funds.

By Bloomberg
Debt levels, economic concerns forcing Americans to make tough choices
RIAS PRACTICE MANAGEMENT SEP 25, 2023
Debt levels, economic concerns forcing Americans to make tough choices

A Thrivent survey finds 53% of respondents would take a job working harder and longer hours to make and save more over making less money, but having more free time to do what they love.

By Gregg Greenberg
Webinar for RIAs discusses annuities, retirement planning
ADVISOR NEWS RETIREMENT PLANNING SEP 25, 2023
Webinar for RIAs discusses annuities, retirement planning

The RIA LABS event looks at longevity risks and various products that can be used.

By Josh Welsh
SEC fines Deutsche Bank subsidiary $19M for not keeping ESG promises
RIAS PRACTICE MANAGEMENT SEP 25, 2023
SEC fines Deutsche Bank subsidiary $19M for not keeping ESG promises

'The industry deserves to have the scrutiny that’s being placed on it,' says Ethan Powell, founder and CEO of Impact Shares.

By Mark Schoeff Jr.