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Ameriprise picks up $2B credit union unit from LPL
BROKER DEALERS APR 11, 2024
Ameriprise picks up $2B credit union unit from LPL

The mover is the wealth management division of one of the largest US credit unions.

By Steve Randall
First Horizon names new head of wealth management, private banking
INDUSTRY NEWS APR 11, 2024
First Horizon names new head of wealth management, private banking

Experienced leader will lead the $65 billion wealth management unit.

By Steve Randall
Goldman Sachs loses another long-term senior leader
BROKER DEALERS APR 11, 2024
Goldman Sachs loses another long-term senior leader

FT reports that the firm's global treasurer is to join Millennium.

By Bloomberg
Goldman, Morgan Stanley now expect China to perform better
INDUSTRY NEWS APR 11, 2024
Goldman, Morgan Stanley now expect China to perform better

Wall Street analysts see opportunity as Chinese economy shows potential.

By Bloomberg
Among financial challenges, Americans say inflation hurts worst
INDUSTRY NEWS APR 10, 2024
Among financial challenges, Americans say inflation hurts worst

New survey reveals three-quarters feeling the pinch from higher prices, with economic uncertainty impacting tax refunds and spending plans.

By Leo Almazora
Fidelity unveils for-teens, by-teens thematic baskets
INDUSTRY NEWS APR 10, 2024
Fidelity unveils for-teens, by-teens thematic baskets

Billed as an industry first, the investing giant’s new thematic lineup targets three sectors and trends that are on next-gen investors’ radar.

By Leo Almazora
F.L.Putnam eyes a slice of high-net-worth trust service pie
RIAS APR 10, 2024
F.L.Putnam eyes a slice of high-net-worth trust service pie

The Massachusetts-based RIA is expanding its wealth management offerings with a key deal in New Hampshire.

By Leo Almazora
A risky career for show biz clients
PRACTICE MANAGEMENT APR 10, 2024
A risky career for show biz clients

‘Save first and then establish ... lifestyle second,’ advisor tells her clients in the entertainment industry

By Josh Welsh
Don’t repeat 2016 fiduciary rule mistake, NAIFA urges DOL
REGULATION AND LEGISLATION APR 10, 2024
Don’t repeat 2016 fiduciary rule mistake, NAIFA urges DOL

'Real-world experience' shows impact of fiduciary standard on Main Street investors, advisor association warns.

By Leo Almazora
LPL's Atria deal poses complexities: Report
BROKER DEALERS APR 10, 2024
LPL's Atria deal poses complexities: Report

Atria's financial advisors might be getting M&A 'whiplash,' one recruiter notes.

By Bruce Kelly
LPL lands $300M team in Kentucky
BROKER DEALERS APR 10, 2024
LPL lands $300M team in Kentucky

The advisors from Ameriprise are joining the broker-dealer's network with their own independent practice in Louisville.

By Leo Almazora
RIA Waverly scoops up $700M investment boutique
RIAS APR 10, 2024
RIA Waverly scoops up $700M investment boutique

The fee-only RIA builds on its acquisition streak so far this year with its first foothold in Charlotte, North Carolina.

By Leo Almazora
Cetera successfully rolls up its advisor businesses
BROKER DEALERS APR 10, 2024
Cetera successfully rolls up its advisor businesses

With a leaner organization, the broker-dealer is funneling cost savings from its streamlining effort into more support for advisors.

By Leo Almazora
UBS could face higher capital rules under Swiss reforms
WIREHOUSES APR 10, 2024
UBS could face higher capital rules under Swiss reforms

The bank's shares fell on the news that the government wants systemically important Swiss banks to hold significantly more capital against foreign units.

By Bloomberg
UBS CEO's compensation elicits concern from Swiss finance minister
WIREHOUSES APR 10, 2024
UBS CEO's compensation elicits concern from Swiss finance minister

Sergio Ermotti, who has been leading UBS' integration of Credit Suisse, was paid $16 million for his first nine months on the job.

By Bloomberg
Higher-than-expected core CPI likely pushes back Fed rate cuts
INDUSTRY NEWS APR 10, 2024
Higher-than-expected core CPI likely pushes back Fed rate cuts

The 0.4% rise in March's core consumer price index adds to evidence that progress on taming inflation may be stalling.

By Bloomberg
Fortis Capital Advisors acquires Chicago-based father-daughter firm
RIAS APR 10, 2024
Fortis Capital Advisors acquires Chicago-based father-daughter firm

New addition expands the RIA firm’s national footprint.

By Steve Randall
Global VC funding down 30% amid investor concerns
INDUSTRY NEWS APR 10, 2024
Global VC funding down 30% amid investor concerns

Venture capital funding dropped 29% in the US, 40% in China, as slower economies, inflation weigh.

By Bloomberg
NYSE aims to attract 'exciting' Asian firms to list in US
EQUITIES APR 10, 2024
NYSE aims to attract 'exciting' Asian firms to list in US

Firms from Japan, South Korea, Indonesia, and Singapore could appear.

By Bloomberg
The undeniable value of niche advising
OPINION APR 09, 2024
The undeniable value of niche advising

If you want to grow your advisory practice, don't try to be all things to all people. Specialize in a few areas and build your own niche.

By Scott Hanson