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Stock selloff accelerates following jobs-fuelled "growth scare"
INDUSTRY NEWS AUG 02, 2024
Stock selloff accelerates following jobs-fuelled "growth scare"

Nasdaq enters correction territory as jobs report adds to fears that the Federal Reserve is behind on rate cuts.

By Bloomberg
Cetera reveals latest credit union partnership with Cal Coast deal
INDUSTRY NEWS AUG 02, 2024
Cetera reveals latest credit union partnership with Cal Coast deal

With around $3.4B in assets and 200,000 members, California Coast Credit Union is joining Cetera’s financial institution arm from Osaic.

By Leo Almazora
New DOJ whistleblowers program is now live, but how does it differ from the others?
INDUSTRY NEWS AUG 02, 2024
New DOJ whistleblowers program is now live, but how does it differ from the others?

The pilot program intends to fill gaps in existing schemes.

By Steve Randall
CFA Institute's new framework aims to improve clarity for index investment products
INDUSTRY NEWS AUG 02, 2024
CFA Institute's new framework aims to improve clarity for index investment products

It hopes to bring greater transparency and more effective communication.

By Steve Randall
Wall Street unimpressed by big tech's AI gamble
INDUSTRY NEWS AUG 02, 2024
Wall Street unimpressed by big tech's AI gamble

Billions are being invested but when will there be ROI?

By Bloomberg
Jump for Treasuries as traders await payroll data
INDUSTRY NEWS AUG 02, 2024
Jump for Treasuries as traders await payroll data

Stats could strengthen the case for a September Fed cut.

By Bloomberg
BNP in talks to create asset management titan
INDUSTRY NEWS AUG 02, 2024
BNP in talks to create asset management titan

It's the latest proposed big tie up in the investment industry.

By Bloomberg
Intel could be headed for worst share slump in 24 years
INDUSTRY NEWS AUG 02, 2024
Intel could be headed for worst share slump in 24 years

Chipmaker's results suggest it may struggle in AI race.

By Bloomberg
As college costs surge, three-quarters of parents have started saving for their kids
INDUSTRY NEWS AUG 01, 2024
As college costs surge, three-quarters of parents have started saving for their kids

Fidelity research reveals the psychic toll of inflation and student debt, and how heart-to-heart conversations could kickstart the 529 habit.

By Leo Almazora
Wells Fargo sued twice over cash sweep rates, LPL sued again
BROKER DEALERS AUG 01, 2024
Wells Fargo sued twice over cash sweep rates, LPL sued again

Impact of litigation will affect some business models going forward, source says.

By Emile Hallez
Merrill Lynch nabs three advisors from Morgan Stanley
ADVISOR MOVES AUG 01, 2024
Merrill Lynch nabs three advisors from Morgan Stanley

The Wall Street giant is expanding its profile in key markets with a trio of new additions who collectively oversaw more than $1B.

By Leo Almazora
Raymond James swipes $245M advisor from LPL
BROKER DEALERS AUG 01, 2024
Raymond James swipes $245M advisor from LPL

The independent broker-dealer has bolstered its employee advisor unit with the latest addition in New York.

By Leo Almazora
GPB execs guilty on all fraud counts
BROKER DEALERS AUG 01, 2024
GPB execs guilty on all fraud counts

Jury finds Gentile and Schneider guilty on a total of eight counts after seven-week trial.

By Bruce Kelly
Social media platform founder charged by SEC in alleged $170M fraud
INDUSTRY NEWS AUG 01, 2024
Social media platform founder charged by SEC in alleged $170M fraud

Investors should be 'vigilant in this space' warns SEC regional director.

By Steve Randall
Captrust chief says $1T AUM milestone is a 'surreal achievement'
INDUSTRY NEWS AUG 01, 2024
Captrust chief says $1T AUM milestone is a 'surreal achievement'

The firm expects to benefit from further consolidation.

By Steve Randall
Securities class actions are another thing being accelerated by AI
INDUSTRY NEWS AUG 01, 2024
Securities class actions are another thing being accelerated by AI

Report finds fewer filings related to cryptos, more related to AI.

By Steve Randall
Fed rate cut trajectory is a hot topic on earnings calls
INDUSTRY NEWS AUG 01, 2024
Fed rate cut trajectory is a hot topic on earnings calls

Corporate America is trying to figure out the path after September.

By Bloomberg
Oil traders weigh price hikes amid rising tensions
INDUSTRY NEWS AUG 01, 2024
Oil traders weigh price hikes amid rising tensions

Call options contracts have seen a spike in trading.

By Bloomberg
Homeowner wealth posts uptick in second quarter
INDUSTRY NEWS AUG 01, 2024
Homeowner wealth posts uptick in second quarter

Home equity boost sees underwater US mortgages at 5-year low.

By Bloomberg
Bill Ackman backtracks on Pershing Square US fund
INDUSTRY NEWS JUL 31, 2024
Bill Ackman backtracks on Pershing Square US fund

After multiple setbacks and delays, the hedge fund titan has cancelled the much-anticipated IPO for his closed-end fund.

By Leo Almazora