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Atlanta Fed chief says more data needed before rate cut
INDUSTRY NEWS AUG 29, 2024
Atlanta Fed chief says more data needed before rate cut

Raphael Bostic says the stats need to support easing policy.

By Bloomberg
Swiss asset manager boosts US presence with Miami office
INDUSTRY NEWS AUG 29, 2024
Swiss asset manager boosts US presence with Miami office

Demand from US offshore clients has prompted the move.

By Bloomberg
Cat bond favoring hedge fund says returns already weakened
INDUSTRY NEWS AUG 29, 2024
Cat bond favoring hedge fund says returns already weakened

Investors are awaiting the extent of the 2024 hurricane season.

By Bloomberg
Raymond James expands in Texas with corporate RIA model reveal
BROKER DEALERS AUG 28, 2024
Raymond James expands in Texas with corporate RIA model reveal

The IBD’s newest advisor addition arrives via a new offering to its national network of community financial institutions.

By Leo Almazora
Millennial high earners are hightailing it out of California and New York
INDUSTRY NEWS AUG 28, 2024
Millennial high earners are hightailing it out of California and New York

An analysis of tax return data shows which states are the top destinations for high-income Gen Y households.

By Leo Almazora
Private equity funds gaining traction with advisors
ALTERNATIVES AUG 28, 2024
Private equity funds gaining traction with advisors

"The appetite by financial advisors for private equity funds is super high right now," says one industry executive.

By Bruce Kelly
FinCEN unveils final AML rules for investment advisors
REGULATION AND LEGISLATION AUG 28, 2024
FinCEN unveils final AML rules for investment advisors

After industry pushback against earlier proposals, the Treasury Department has softened its requirements to curb money laundering.

By Leo Almazora
SEC scraps swing pricing plan for mutual funds
INDUSTRY NEWS AUG 28, 2024
SEC scraps swing pricing plan for mutual funds

The regulator's retreat from a plan to help control liquidity issues during high-redemption periods is an apparent win for the industry.

By Bloomberg
RayJay breakaway RIA Crux joins Arete Wealth network
RIAS AUG 28, 2024
RayJay breakaway RIA Crux joins Arete Wealth network

Crux’s collaboration with the full-service broker-dealer and RIA comes as part of a broader multi-year tech platform agreement.

By Leo Almazora
PE-backed Sequoia Financial strikes partnership with Eide Bailly
RIAS AUG 28, 2024
PE-backed Sequoia Financial strikes partnership with Eide Bailly

The nationally top-ranked RIA is set to expand its presence meaningfully across the Western US as it acquires Eide Bailly’s $1.58B wealth arm.

By Leo Almazora
Equities rally sparked boost in self-directed 401(k) investors' accounts
INDUSTRY NEWS AUG 28, 2024
Equities rally sparked boost in self-directed 401(k) investors' accounts

Average balances rise for Schwab Personal Choice Retirement Account.

By Steve Randall
More than half of Gen Z, Millennial workers plan to ask for a raise
INDUSTRY NEWS AUG 28, 2024
More than half of Gen Z, Millennial workers plan to ask for a raise

Millions also expected to seek more secure job in the next 12 months.

By Steve Randall
Investors await earnings from $3T Nvidia, stocks edge higher
INDUSTRY NEWS AUG 28, 2024
Investors await earnings from $3T Nvidia, stocks edge higher

The chipmaker will release its quarterly stats after the market closes.

By Bloomberg
Goldman Sachs snaps up Citigroup veteran for natural resources team
INDUSTRY NEWS AUG 28, 2024
Goldman Sachs snaps up Citigroup veteran for natural resources team

By Bloomberg
Warren Buffett sells another $982M in BofA shares
INDUSTRY NEWS AUG 28, 2024
Warren Buffett sells another $982M in BofA shares

Billionaire investor has cut his holding by almost 13% this summer.

By Bloomberg
How Kamala Harris's wealth tax plan could hit affluent Americans
INDUSTRY NEWS AUG 27, 2024
How Kamala Harris's wealth tax plan could hit affluent Americans

The proposal would raise the top income tax rate and introduce a new tax on unrealized capital gains.

By Leo Almazora
Rep-owned B-D pays $1 million to ripped off clients
BROKER DEALERS AUG 27, 2024
Rep-owned B-D pays $1 million to ripped off clients

United Planners' Financial Services of America failed to supervise its salesman, according to Arizona.

By Bruce Kelly
Siemens 401(k) lawsuit latest over forfeited assets
RETIREMENT PLANNING AUG 27, 2024
Siemens 401(k) lawsuit latest over forfeited assets

Numerous others, including Bank of America and Nordstrom, are also facing proposed class actions.

By Emile Hallez
IEQ snaps up EPIQ to create $32B family office powerhouse
RIAS AUG 27, 2024
IEQ snaps up EPIQ to create $32B family office powerhouse

The two multibillion-dollar RIAs, led by veteran superstars from First Republic and Iconiq Capital, are looking to take several wealth hotspots by storm.

By Leo Almazora
JPMorgan gets swept up in cash sweep drama
WIREHOUSES AUG 27, 2024
JPMorgan gets swept up in cash sweep drama

A class-action suit filed against the Wall Street bank is just the latest in a raft of cases alleging too-low interest rates offered to clients.

By Leo Almazora