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Wealth management division helps propel Empower to new records
RETIREMENT PLANNING FEB 16, 2024
Wealth management division helps propel Empower to new records

The 10-year-old firm has seen strong growth in its assets, client base, and earnings.

By Steve Randall
Older people lose $28B to scams, maybe due to a more trusting nature
INDUSTRY NEWS FEB 16, 2024
Older people lose $28B to scams, maybe due to a more trusting nature

University of Florida research reveals years of experience can be a bad thing.

By Steve Randall
Atlanta Fed president says rate cuts may not come for a while
INDUSTRY NEWS FEB 16, 2024
Atlanta Fed president says rate cuts may not come for a while

Raphael Bostic said Thursday that conditions remain uncertain.

By Bloomberg
Has a global investment bank banned the long weekend?
INDUSTRY NEWS FEB 16, 2024
Has a global investment bank banned the long weekend?

Not exactly, but four straight days at home are no longer allowed.

By Bloomberg
Is the worst over for office assets? CBRE thinks it might be
INDUSTRY NEWS FEB 16, 2024
Is the worst over for office assets? CBRE thinks it might be

The commercial real estate firm's CEO says return-to-office is boosting leasing.

By Bloomberg
DOL retirement security rule would be 'disastrous,' GOP rep says
RETIREMENT PLANNING FEB 15, 2024
DOL retirement security rule would be 'disastrous,' GOP rep says

Democrats at a House hearing say the retirement rule will ensure workers, retirees and retirement plan sponsors receive advice that is in their best interest.

By Josh Welsh
Wells Fargo consent order for fake accounts ended by OCC
WIREHOUSES FEB 15, 2024
Wells Fargo consent order for fake accounts ended by OCC

While the consent order has been lifted, Wells Fargo still has a cap on its growth imposed by the Federal Reserve.

By Bloomberg
Ex-Osaic veteran advisor barred by Finra
ALTERNATIVES FEB 15, 2024
Ex-Osaic veteran advisor barred by Finra

'A lawyer may tell an advisor like this, there's no upside in responding to Finra, just leave the industry,' says a senior brokerage executive.

By Bruce Kelly
Pathstone snaps up Crestone Capital in $3B deal
RIAS FEB 15, 2024
Pathstone snaps up Crestone Capital in $3B deal

The employee-owned RIA will see its AUA balloon past $100 billion as it builds a 'true multi-generational family office experience.'

By Leo Almazora
Finra fines Morgan Stanley $1.6M over muni transaction shortfalls
WIREHOUSES FEB 15, 2024
Finra fines Morgan Stanley $1.6M over muni transaction shortfalls

Broker-dealer self-regulator finds pattern of gross supervisory failure involving municipal securities over a five-year period.

By Leo Almazora
Tony Robbins praises private equity in his search for 'The Holy Grail of Investing'
INDUSTRY NEWS FEB 15, 2024
Tony Robbins praises private equity in his search for 'The Holy Grail of Investing'

The financial author and motivational speaker interviewed more than a dozen private equity giants to discover how they made their billions.

By Gregg Greenberg
Raymond James strengthens advisor network with $340M Morgan Stanley team
BROKER DEALERS FEB 15, 2024
Raymond James strengthens advisor network with $340M Morgan Stanley team

Based in South Florida, the Behar-Nagel Group is the latest to join Raymond James’ employee advisor channel.

By Leo Almazora
LPL extends winning streak as it welcomes Wells Fargo team
BROKER DEALERS FEB 15, 2024
LPL extends winning streak as it welcomes Wells Fargo team

Victoria, Texas-based CoastPoint Financial adds $150 million in client assets to the broker-dealer giant’s network.

By Leo Almazora
Don’t be in a rush to discount your fees
OPINION FEB 15, 2024
Don’t be in a rush to discount your fees

If an advisor greatly discounts or gives away his services, clients will discount that advice as well.

By Scott Hanson
Cetera signs up $312M team from LPL
BROKER DEALERS FEB 15, 2024
Cetera signs up $312M team from LPL

Based in South Carolina, the three-person holistic planning practice is joining a 4,000-strong network of advisors.

By Leo Almazora
Allworth Financial announces partnership with $300M firm
INDUSTRY NEWS FEB 15, 2024
Allworth Financial announces partnership with $300M firm

The deal brings the growing RIA firm's total acquisitions to 34.

By Steve Randall
Mercer Advisors welcomes five RIA industry veterans
RIAS FEB 15, 2024
Mercer Advisors welcomes five RIA industry veterans

The new executives have experience at some of the biggest industry names.

By Steve Randall
Earnings help stocks advance in early trade Thursday
EQUITIES FEB 15, 2024
Earnings help stocks advance in early trade Thursday

Big tech helped US market gain in previous session.

By Bloomberg
Citi hails private fund tokenization pilot as a success
FINTECH FEB 15, 2024
Citi hails private fund tokenization pilot as a success

The proof of concept could accelerate blockchain tech on Wall Street.

By Bloomberg
Japan in recession, no longer world's third-largest economy
INDUSTRY NEWS FEB 15, 2024
Japan in recession, no longer world's third-largest economy

Despite negative rates, the economy has unexpectedly weakened.

By Bloomberg