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Kestra Financial continues strong growth as 23 professionals add $1.3B AUM
INDUSTRY NEWS AUG 16, 2023
Kestra Financial continues strong growth as 23 professionals add $1.3B AUM

The second-quarter additions follow the 26 who joined the platform in Q1.

By Steve Randall
Madison Investments launches its first ETF with more to come in weeks
INDUSTRY NEWS AUG 16, 2023
Madison Investments launches its first ETF with more to come in weeks

Independently owned Wisconsin firm says launch is a natural extension of its investment strategies.

By Steve Randall
New Jersey $270M team sets up new wealth firm with LPL
INDUSTRY NEWS AUG 16, 2023
New Jersey $270M team sets up new wealth firm with LPL

The three advisors have left Merrill Lynch to form their independent firm.

By Steve Randall
Fed minutes to reveal preference for tightening
INDUSTRY NEWS AUG 16, 2023
Fed minutes to reveal preference for tightening

Few of the FOMC members were in favor of holding rates into 2024.

By Bloomberg
BlackRock among holders of embattled China bonds
INDUSTRY NEWS AUG 16, 2023
BlackRock among holders of embattled China bonds

Investors fear a missed payment, so which other firms are exposed?

By Bloomberg
Hedge fund says US hard landing and sell-off frenzy ahead
ALTERNATIVES AUG 16, 2023
Hedge fund says US hard landing and sell-off frenzy ahead

Vantage Point Asset Management says people will be panicking.

By Bloomberg
Apollo impact investing co-head Marc Becker dies aged 51
INDUSTRY NEWS AUG 16, 2023
Apollo impact investing co-head Marc Becker dies aged 51

The private equity firm executive was battling cancer.

By Bloomberg
SPAC to Nasdaq: deal hands auto tycoon $39B overnight
INDUSTRY NEWS AUG 16, 2023
SPAC to Nasdaq: deal hands auto tycoon $39B overnight

But could vulnerability to market swings wipe out fortune just as fast?

By Bloomberg
Advisors urge Congress to weigh debt reduction against SALT deduction
REGULATION AND LEGISLATION AUG 15, 2023
Advisors urge Congress to weigh debt reduction against SALT deduction

'As much as I might want to see some relief for my clients and myself, there should be a balance between revenue and expenses in the federal budget,' one advisor says.

By Mark Schoeff Jr.
Back-to-school season has advisors talking tuition strategies
INDUSTRY NEWS AUG 15, 2023
Back-to-school season has advisors talking tuition strategies

Advisors reveal how they teach parent clients a lesson or two about tax-efficient ways to pay tuition bills.

By Gregg Greenberg
Signature RIA set to open broker-dealer
RIAS AUG 15, 2023
Signature RIA set to open broker-dealer

The new broker-dealer expects to transition up to 30 financial advisors who are currently registered with Osaic.

By Bruce Kelly
SEC hits ESG funds with subpoenas
ESG AUG 15, 2023
SEC hits ESG funds with subpoenas

Authorities get tough over green claims.

By Matthew Sellers
DC plan sponsors taking more responsibility for employees' retirement income
RETIREMENT PLANNING AUG 15, 2023
DC plan sponsors taking more responsibility for employees' retirement income

J.P. Morgan Asset Management survey reveals greater role of employers in workers' financial well-being.

By Steve Randall
$205M advisor duo joins LPL from Raymond James' Fulton Financial Advisors
ADVISOR MOVES AUG 15, 2023
$205M advisor duo joins LPL from Raymond James' Fulton Financial Advisors

The team in Arundel County, Maryland, join LPL's broker-dealer, RIA and custodial platforms.

By Steve Randall
SageView founder to become chairman as private wealth leader joins as CEO
RIAS AUG 15, 2023
SageView founder to become chairman as private wealth leader joins as CEO

The firm is expanding its focus on wealth management and retirement plan advisory.

By Steve Randall
UBS to pay $1.4B to settle mortgage-backed securities case
INDUSTRY NEWS AUG 15, 2023
UBS to pay $1.4B to settle mortgage-backed securities case

The case is one of the firm's longest-running legal issues, dating back to 2006 and 2007.

By Bloomberg
US futures track lower as global stocks weaken
INDUSTRY NEWS AUG 15, 2023
US futures track lower as global stocks weaken

Inflation concerns and China growth are main concerns.

By Bloomberg
Big tech in focus for hedge funds in Q2
INDUSTRY NEWS AUG 15, 2023
Big tech in focus for hedge funds in Q2

Meta, Microsoft, and Apple were among the top picks for funds.

By Bloomberg
EMs under pressure give money managers a jolt
INDUSTRY NEWS AUG 15, 2023
EMs under pressure give money managers a jolt

Emerging markets are heading for their worst month since February.

By Bloomberg
UBS reaches $1.44B settlement in DOJ mortgage-bond case
WIREHOUSES AUG 14, 2023
UBS reaches $1.44B settlement in DOJ mortgage-bond case

The case, which dates back to 2006 and 2007, relates to the issuance, underwriting and sale of the securities.

By Bloomberg