Biden takes another $7.4B step in fight to tame student debt
The latest move covers almost 280,000 borrowers in the SAVE, income-driven replacement, and public service loan forgiveness programs.
Empower settles with former advisors in poaching case
The suit involved 13 advisors, all of whom joined Empower via its acquisition of Personal Capital, who departed to establish a rival advisory firm.
OMB draws flak on DOL fiduciary rule decision
Industry groups express disappointment at the Office of Management and Budget's speedy review of the controversial rule.
Summer is coming! Should you be selling?
Well, maybe sell a little, says Jeffrey Hirsch, editor-in-chief of the Stock Trader’s Almanac.
UBS boosts its New York presence
The firm’s private wealth unit is welcoming a team of former Goldman Sachs advisors in the Big Apple.
Five firms hit in SEC marketing rule sweep
The regulator’s crackdown centered on the firms' use of hypothetical performance data and led to a total of $200,000 in penalties.
JPMorgan reports lower-than-expected net interest income in Q1
The bank raised its expense guidance for this year to about $91 billion.
Carson Group hires former Envestnet, LPL executives to bolster growth strategy
Dani Fava is joining the firm as its chief strategy officer.
Choreo names new chief investment officer, bolsters senior leadership team
A total five new leaders have been appointed at the $24.6B firm this month.
Fidelity adds to $14B alt lineup with three new ETFs
The liquid alts funds aim to outperform the S&P 500 index.
Cathie Wood’s $54B ARK VC fund buys into ChatGPT owner
The asset manager has acquired a stake in OpenAI.
Gold rises to more than $2,400 amid Middle East tensions
Bullion is seen as a better hedge than government bonds.
Brookfield said to be weighing private credit firm stake
Asset manager is reportedly in talks with Castlelake.
Ebbing passive demand poses challenges for asset managers
As the lines between active and passive strategies blur, product teams will have a tougher time appeasing advisors, Cerulli says.
RIAs’ outlook on economy lukewarm, survey shows
Inaugural study finds more than two-thirds expect at least mild growth in the stock market, while nine-tenths brace for continued volatility.
Taking care of business with spring cleaning
From portfolio reviews to tidying up client accounts, advisors share what they're cleaning up this spring.
Poor REIT sales signal potential cuts in valuations
'The problem is, when an NAV gets shaved, advisors and investors get pissed off,' one executive says.
Baird simplifies alts platform with new CAIS partnership
The firms are deepening their longtime tech collaboration to create a unified alternative investments solution for Baird's more than 1,300 advisors.
Morgan Stanley’s wealth unit caught in AML crossfire
The SEC and other federal regulators are reportedly probing the banking giant over its anti-money-laundering and client vetting practices.
Arax adds $9B with Texas acquisition
The wealth platform dramatically expands its capabilities with deal for a Houston-based firm catering to HNW and UHNW clients.
