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Who are the highest-paid S&P 500 CEOs of 2023?
INDUSTRY NEWS JUN 10, 2024
Who are the highest-paid S&P 500 CEOs of 2023?

Median total compensation up by 12.6% for CEOs – compared to 5.2% for employees.

By Staff Report
Principal client wins $7 million claim involving annuities
BROKER DEALERS JUN 10, 2024
Principal client wins $7 million claim involving annuities

'The evidence further reflected a pattern of churning,' one executive said about the case.

By Bruce Kelly
Lenox Advisors expands to mid-Atlantic market with $800M Maryland practice
RIAS JUN 10, 2024
Lenox Advisors expands to mid-Atlantic market with $800M Maryland practice

Focused on wealth and benefits planning for medical professionals, the NFP affiliate’s latest acquisition vaults it past the $3.5B mark.

By Leo Almazora
Focus eyes fiduciary advice leadership with key C-suite hires
RIAS JUN 10, 2024
Focus eyes fiduciary advice leadership with key C-suite hires

The RIA aggregator is prioritizing strategic growth and operational efficiency with critical appointments, including veterans from Morgan Stanley and Goldman Sachs.

By Leo Almazora
UBS swipes $470M Colorado advisor team from Morgan Stanley
WIREHOUSES JUN 10, 2024
UBS swipes $470M Colorado advisor team from Morgan Stanley

The firm has also welcomed a new market leader to its Pacific Northwest division, as well as a New York-based advisor focused on LGBTQ clients.

By Leo Almazora
LPL welcomes $275M veteran advisor in Texas
ADVISOR MOVES JUN 10, 2024
LPL welcomes $275M veteran advisor in Texas

The broker-dealer behemoth has added the former Corebridge Financial advisor, who’s launching his own comprehensive planning practice.

By Leo Almazora
Young tech professionals propel advisor's book
INDUSTRY NEWS JUN 10, 2024
Young tech professionals propel advisor's book

InvestmentNews Awards 2024, Advisor of the Year (Western region): Rick Blanke, Blanke Schein Wealth Management (Hightower).

By Josh Welsh
Don’t lose touch of staying client focused, says Mercer CEO
INDUSTRY NEWS JUN 10, 2024
Don’t lose touch of staying client focused, says Mercer CEO

InvestmentNews Awards 2024, CEO of the Year Excellence Awardee: Dave Welling, Mercer Advisors.

By Josh Welsh
SEC alleges pre-IPO share sales fraud 'like a Hollywood movie'  
REGULATION AND LEGISLATION JUN 10, 2024
SEC alleges pre-IPO share sales fraud 'like a Hollywood movie'  

Sales force said to have made $45M, agency warns of similar investment scams.

By Steve Randall
Homeowners with a mortgage gained average $28K over 12 months
INDUSTRY NEWS JUN 10, 2024
Homeowners with a mortgage gained average $28K over 12 months

Home equity closed in on a record high in the first quarter of 2024.

By Steve Randall
S&P 500 could drop 8% without Fed cut, say RBC strategists
INDUSTRY NEWS JUN 10, 2024
S&P 500 could drop 8% without Fed cut, say RBC strategists

Outlook also considers sticky inflation, Treasuries below 5%.

By Bloomberg
Wednesday's data could bring double blow, but traders are ready
INDUSTRY NEWS JUN 10, 2024
Wednesday's data could bring double blow, but traders are ready

CPI, Fed decision could spark volatility.

By Bloomberg
Asset managers called it wrong on dollar: CFTC data
INDUSTRY NEWS JUN 10, 2024
Asset managers called it wrong on dollar: CFTC data

Bearish bets came at the wrong time according to the stats.

By Bloomberg
Are carbon offsets about to have their day at last?
INDUSTRY NEWS JUN 10, 2024
Are carbon offsets about to have their day at last?

Backers have recently secured some big wins.

By Bloomberg
Wealth unit sale an option for Citi, suggests BofA report
INDUSTRY NEWS JUN 07, 2024
Wealth unit sale an option for Citi, suggests BofA report

Analysts at Bank of America would “not be surprised” if Citigroup were to explore “strategic alternatives” as part of its turnaround effort.

By Leo Almazora
RIA caught up in WhatsApp impostor scheme warns against “rogue elements”
INDUSTRY NEWS JUN 07, 2024
RIA caught up in WhatsApp impostor scheme warns against “rogue elements”

The firm is distancing itself from “sham communications” claiming opportunities for “VIP members” with “cooperation commissions.”

By Leo Almazora
Land of the rising returns. More advisors discovering Japanese stocks
INDUSTRY NEWS JUN 07, 2024
Land of the rising returns. More advisors discovering Japanese stocks

Japanese stocks are on a tear thanks to the country's depreciating currency, causing American advisors to look across the Pacific for profits.

By Gregg Greenberg
GPB top executives’ criminal trial to start Monday
ALTERNATIVES JUN 07, 2024
GPB top executives’ criminal trial to start Monday

'The GPB case is bewildering,' says one senior brokerage executive.

By Bruce Kelly
Financial Fitness Act gets a thumbs up from IRI
RETIREMENT PLANNING JUN 07, 2024
Financial Fitness Act gets a thumbs up from IRI

The Insured Retirement Institute is applauding a new bill that could help more Americans address the problem of student debt.

By Leo Almazora
Strong jobs data push JPMorgan, Citi to scrap July rate-cut bets
INDUSTRY NEWS JUN 07, 2024
Strong jobs data push JPMorgan, Citi to scrap July rate-cut bets

Economists at the banking giants changed their tune following the surprising May employment data.

By Bloomberg