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Nearly a fifth of Americans have no emergency savings, finds Empower
INDUSTRY NEWS JUL 03, 2024
Nearly a fifth of Americans have no emergency savings, finds Empower

A quarter of survey respondents had to dip into their rainy-day funds as inflation, rising prices, and debt chip away at their finances.

By Leo Almazora
$200M father-daughter team from Edward Jones makes a break for independence
BROKER DEALERS JUL 03, 2024
$200M father-daughter team from Edward Jones makes a break for independence

The pair are launching their own multigenerational practice in Mississippi with support from LPL.

By Leo Almazora
Is Robinhood planning to move into wealth management with new acquisition?
FINTECH JUL 03, 2024
Is Robinhood planning to move into wealth management with new acquisition?

Stock trading and investment platform to add to capabilities.

By Steve Randall
Senior homeowners gained $329B equity in Q1 but price growth is slowing
INDUSTRY NEWS JUL 03, 2024
Senior homeowners gained $329B equity in Q1 but price growth is slowing

But some regions continue to outpace the easing national price gains.

By Steve Randall
EM currencies fall amid Treasury yields outlook
INDUSTRY NEWS JUL 03, 2024
EM currencies fall amid Treasury yields outlook

Concern outweighed better signals on inflation.

By Bloomberg
Hedge funds react to geopolitical uncertainty
INDUSTRY NEWS JUL 03, 2024
Hedge funds react to geopolitical uncertainty

Goldman Sachs says funds dumped European stocks last month.

By Bloomberg
AI startups add some spice to US VC dealmaking
INDUSTRY NEWS JUL 03, 2024
AI startups add some spice to US VC dealmaking

Global deals were also higher in the second quarter.

By Bloomberg
Even with a $4B fortune, there's room for a side hustle
INDUSTRY NEWS JUL 03, 2024
Even with a $4B fortune, there's room for a side hustle

Former Lehman Bros. trader eyes AI potential with VC bets.

By Bloomberg
WisdomTree woos more advisors with portfolio solutions offering
PRACTICE MANAGEMENT JUL 02, 2024
WisdomTree woos more advisors with portfolio solutions offering

The firm is doubling down on its $3.5B model portfolios business with a fresh push to help enhance investment advisors’ practices.

By Leo Almazora
Broker who took client funds for 17 years is barred
BROKER DEALERS JUL 02, 2024
Broker who took client funds for 17 years is barred

"A broker admitting that he has been ripping off clients for 17 years is beyond troubling," said one attorney.

By Bruce Kelly
BNY names new global head of investments and wealth
INDUSTRY NEWS JUL 02, 2024
BNY names new global head of investments and wealth

The Nuveen alum with investment experience from TIAA, AIG, and Merrill Lynch is set to join as longtime leader lets go of the reins.

By Leo Almazora
Hints of jobs slowdown put Fed on the alert
INDUSTRY NEWS JUL 02, 2024
Hints of jobs slowdown put Fed on the alert

Hints of impending weakness in the labor market add to the central bank's list of risks to manage.

By Bloomberg
California becomes 26th state to enshrine high school personal finance education
INDUSTRY NEWS JUL 02, 2024
California becomes 26th state to enshrine high school personal finance education

Under landmark bill signed by Governor Newsom, passing a personal finance course will be a high school graduation requirement by 2031.

By Leo Almazora
Wealth Enhancement Group gets another foothold in Texas
RIAS JUL 02, 2024
Wealth Enhancement Group gets another foothold in Texas

The national independent’s growth continues in the Lone Star State with a $254M RIA led by an experienced advisor duo.

By Leo Almazora
SEC charges Silvergate Capital Corporation, former execs with misleading investors
REGULATION AND LEGISLATION JUL 02, 2024
SEC charges Silvergate Capital Corporation, former execs with misleading investors

The firm and two individuals have settled, but CFO will fight to clear his name.

By Steve Randall
Kovitz set to exceed $24B AUM as new combination is announced
RIAS JUL 02, 2024
Kovitz set to exceed $24B AUM as new combination is announced

Focus Financial firm is preparing for another major tie-up.

By Steve Randall
How much income does the average American believe means financial security?
INDUSTRY NEWS JUL 02, 2024
How much income does the average American believe means financial security?

Spoiler alert: it's way more than most people make.

By Steve Randall
Wall Street weighs impact on bonds if Trump wins
INDUSTRY NEWS JUL 02, 2024
Wall Street weighs impact on bonds if Trump wins

Strategists urge investors to hedge against inflation.

By Bloomberg
More American homeowners locked into mortgage rates above 5%
INDUSTRY NEWS JUL 02, 2024
More American homeowners locked into mortgage rates above 5%

Older loans at lower rates are being replaced by costlier borrowing.

By Bloomberg
Take profits on five-year Treasuries now says JPMorgan
INDUSTRY NEWS JUL 02, 2024
Take profits on five-year Treasuries now says JPMorgan

Selling pressures are elevated due to multiple risk events.

By Bloomberg