SEC overhauls money-market fund rules to thwart rapid outflows
The regulator won't require 'swing pricing' for money funds after fierce pushback from the industry.
Captrust acquires $2.3 billion Southern Wealth Management for fifth deal this year
This marks the third Texas acquisition this year for Captrust, which now has 69 deals on the books.
Is the inflation crisis over?
Latest Bureau of Labor Statistics CPI figures defy expectations as housing, insurance power ahead.
New ETF offers exposure to global music industry, but will advisors rock out?
The exchange-traded fund offers exposure to the entire music industry, including streaming services, content and distribution, live events and ticketing, and music equipment and technology.
Allworth Financial adds $260M father-daughter RIA firm to fast-growing footprint
With women controlling an increasing share of wealth, the addition of another female partner-advisor is important for Allworth
Hedge funds reconsider crypto amid US regulatory concerns
However, fund managers are generally optimistic and intend to maintain or increase exposure.
US inflation expectations boost stocks ahead of data
Bond yields and the greenback have eased on hopes of slowing price rises.
Money market funds to avoid new ‘swing pricing’ rules
The SEC is due to finalize its rules Wednesday with Wall Street now expecting a victory on a key component.
$100 million bond aims to rid Miami Beach of spring break rep
The city is hoping investors will back its plans to boost cultural projects such as ballet and art museums
Verizon 401(k) lawsuit settles for $30 million
The settlement sends an uncomfortable message to retirement plan advisors and other fiduciaries, an observer says.
Aretha Franklin’s estate planning deserves no respect
Hot on the heels of the Presley family’s document drama, a similar quarrel was decided this week in court regarding the last wishes of Aretha Franklin, who died in 2018.
Stock rally, high rates have advisors rethinking covered call strategies
Hedging equities with option income loses some luster, but still works for certain clients.
Six states impose $4.2M fine on Raymond James for excessive fees
The firm was also ordered to return $8.25 million to retail customers.
Merrill Lynch smacked with $12 million penalty for reporting violations
According to the SEC and Finra, for years Merrill botched the reporting threshold for potential suspicious transactions.
CFPB slams BofA with quarter-billion-dollar settlement
The bureau will keep $90 million, with the rest going to consumers, Office of the Comptroller of the Currency.
InvestCloud names Heather Bellini president and chief financial officer
Bellini will oversee finance, legal, HR and business operations at the company, which is rebuilding executive leadership after a spring shakeup.
Advisor leaves Ameriprise for LPL after 25 years, citing greater freedom
Jason Johnson founded 509 Wealth Management in 1998 and manages approximately $400 million in assets.
Credit Suisse investor makes Monumental investment in NBA, NHL teams
A giant international player that doubled down on the failed bank now heads for U.S. hockey, basketball.
Schwab sharpens focus on distinct needs of wealthiest client groups
The firm has launched two brands to differentiate between high-net-worth and ultra-high-net-worth clients
Interest-rate long haul weakens US equity futures
Even stronger data from China is not enough to add a spark to markets early Tuesday
