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JPMorgan posts profit record on Visa gain, dealmaking revival
INDUSTRY NEWS JUL 12, 2024
JPMorgan posts profit record on Visa gain, dealmaking revival

The banking giant shattered expectations across its Wall Street businesses, including $2.4B in investment banking fees.

By Bloomberg
New Technology Report closes this week
INDUSTRY NEWS JUL 12, 2024
New Technology Report closes this week

Search for the industry’s best wealth technology and software ends soon.

By IN Staff
Wealth Enhancement Group gains first foothold in Utah
RIAS JUL 12, 2024
Wealth Enhancement Group gains first foothold in Utah

The national independent wealth firm has acquired a $272M planning team in Farmington, pushing its client assets past $85.7B.

By Leo Almazora
Insurance distributor appoints veteran leader for $46B wealth management unit
INDUSTRY NEWS JUL 12, 2024
Insurance distributor appoints veteran leader for $46B wealth management unit

New hire has international experience across major name financial firms.

By Steve Randall
National $25.9B AUM RIA firm launches trust company in 'favorable' jurisdiction
INDUSTRY NEWS JUL 12, 2024
National $25.9B AUM RIA firm launches trust company in 'favorable' jurisdiction

The firm says expansion of its services will be powered by technology.

By Steve Randall
S&P futures stabilize ahead of Wall Street earnings
INDUSTRY NEWS JUL 12, 2024
S&P futures stabilize ahead of Wall Street earnings

Expectation of earnings broadening out from megacap big tech.

By Bloomberg
Treasuries erase 2024 losses amid rate cut bets
INDUSTRY NEWS JUL 12, 2024
Treasuries erase 2024 losses amid rate cut bets

Inflation data is driving expectation of Fed action ahead.

By Bloomberg
Wall Street banking chief welcomed with $41M in stocks
INDUSTRY NEWS JUL 12, 2024
Wall Street banking chief welcomed with $41M in stocks

Shares will awarded over a five year period.

By Bloomberg
Gold remains above $2400 after biggest gain since March
INDUSTRY NEWS JUL 12, 2024
Gold remains above $2400 after biggest gain since March

Wider precious metals market is mixed.

By Bloomberg
Energy investors looking for a gusher in second half
INDUSTRY NEWS JUL 11, 2024
Energy investors looking for a gusher in second half

Oil and natural gas stocks have lagged so far in 2024 as technology has led the way. Energy investors expect that to change in the months ahead.

By Gregg Greenberg
GPB execs goosed records to pump sales, partner claims
ALTERNATIVES JUL 11, 2024
GPB execs goosed records to pump sales, partner claims

"I wanted it to end," said former senior GPB executive on Thursday.

By Bruce Kelly
The workplace: A goldmine for advisors seeking new assets
OPINION JUL 11, 2024
The workplace: A goldmine for advisors seeking new assets

More than a third of financial assets are currently in workplace retirement accounts, creating a rich pool of opportunity for future-focused advisors.

RIAs’ economic optimism holds steady, but concerns are brewing
RIAS JUL 11, 2024
RIAs’ economic optimism holds steady, but concerns are brewing

Quarterly index research reveals heightened worries over inflation, politics, and market turbulence in the next 12 months.

By Leo Almazora
Former investment advisor to pay $669k penalty over Grail Movement fraud
REGULATION AND LEGISLATION JUL 11, 2024
Former investment advisor to pay $669k penalty over Grail Movement fraud

The ex-advisor repeatedly lied to members of his religious community and fabricated statements to conceal near-total losses, according to the SEC.

By Leo Almazora
Cetera starts July strong with three announced additions
BROKER DEALERS JUL 11, 2024
Cetera starts July strong with three announced additions

The independent broker-dealer welcomes six new advisors who reported a total of nearly $600M in assets under administration between them.

By Leo Almazora
Ex-Edward Jones trio unveils RIA platform for breakaways
RIAS JUL 11, 2024
Ex-Edward Jones trio unveils RIA platform for breakaways

The veteran-founded firm officially launches its “Bridge Builder to Independence” model with the arrival of a former $275 million wirehouse advisor.

By Leo Almazora
Baird adds to Ohio presence with Wells Fargo hire
ADVISOR MOVES JUL 11, 2024
Baird adds to Ohio presence with Wells Fargo hire

The employee-owned wealth firm’s latest addition previously managed north of $185M at the wirehouse.

By Leo Almazora
Modern Wealth tops $4B AUM with C&J Wealth Advisors deal
RIAS JUL 11, 2024
Modern Wealth tops $4B AUM with C&J Wealth Advisors deal

The RIA aggregator’s ninth acquisition in 14 months also represents its first foray into the South as it gains a foothold in Tennessee.

By Leo Almazora
Broad cooling in inflation bolsters case for Fed rate cuts
INDUSTRY NEWS JUL 11, 2024
Broad cooling in inflation bolsters case for Fed rate cuts

Core CPI's smallest monthly advance since August 2021, led by cheaper gasoline, adds to evidence of downward inflation trend.

By Bloomberg
Citigroup fined $135M for failure to comply with Fed, OCC enforcements
REGULATION AND LEGISLATION JUL 11, 2024
Citigroup fined $135M for failure to comply with Fed, OCC enforcements

Shares drop 1.3% in early trading following Wednesday's penalties.

By Steve Randall