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Wall Street signals profit slump may be over, boosts forecasts
INDUSTRY NEWS OCT 12, 2023
Wall Street signals profit slump may be over, boosts forecasts

Easing inflation is driving expectation of positive earnings.

By Bloomberg
Fed's Collins says rates may have peaked or are close
INDUSTRY NEWS OCT 12, 2023
Fed's Collins says rates may have peaked or are close

But that does not completely rule out further rate hikes.

By Bloomberg
SEC commissioner sounds alarm on syndicated loans risk
INDUSTRY NEWS OCT 12, 2023
SEC commissioner sounds alarm on syndicated loans risk

The investments could pose a risk to the wider financial system, Caroline Crenshaw warns.

By Bloomberg
Still no end to banking deals drought, says Barclays
INDUSTRY NEWS OCT 12, 2023
Still no end to banking deals drought, says Barclays

It's one of the factors weakening industry's earnings outlook.

By Bloomberg
Hillhouse pitches $1B Asia private credit fund to investors
INDUSTRY NEWS OCT 12, 2023
Hillhouse pitches $1B Asia private credit fund to investors

The private credit market in the region is small but growing.

By Bloomberg
SEC orders firm to pay $1.3M for failing to disclose conflicts related to high-cost funds
MUTUAL FUNDS OCT 11, 2023
SEC orders firm to pay $1.3M for failing to disclose conflicts related to high-cost funds

'If you’re an investment advisor and you’re not putting your clients in the lowest-cost share class, then you’re running the risk of a fiduciary failure,' an expert says.

By Mark Schoeff Jr.
Avantax CEO in line to receive $21.6 million golden parachute
BROKER DEALERS OCT 11, 2023
Avantax CEO in line to receive $21.6 million golden parachute

'Kudos to those guys for getting the deal done ... but it's jaw-dropping that's what they're getting paid,' one industry executive says.

By Bruce Kelly
Merrill advisors managing $390M jump to LPL Financial
BROKER DEALERS OCT 11, 2023
Merrill advisors managing $390M jump to LPL Financial

The Fresno, California-based pair of advisors make the 50th team to join LPL’s Linsco channel.

By InvestmentNews
Our responsibility to improve the reputation of our profession
OPINION OCT 11, 2023
Our responsibility to improve the reputation of our profession

Financial advisors labor against an industrywide reputation that’s as poor as that of the legal profession, which means that far too many people who could use our help don't trust us.

By Scott Hanson
Cetera affiliate Totus Wealth Management adds $327M team
ADVISOR MOVES OCT 11, 2023
Cetera affiliate Totus Wealth Management adds $327M team

The advisors come from MML Investors Services and Capstone Financial.

By Steve Randall
How can advisors better serve America's youngest adults?
INDUSTRY NEWS OCT 11, 2023
How can advisors better serve America's youngest adults?

Edward Jones study finds those aged 18-34 are struggling but optimistic.

By Steve Randall
BMO Capital Markets announces new CEO as Dan Barclay retires
INDUSTRY NEWS OCT 11, 2023
BMO Capital Markets announces new CEO as Dan Barclay retires

The group will have a new leader at the start of next month.

By Steve Randall
IMF says US Treasuries dynamic is 'very unfavorable'
INDUSTRY NEWS OCT 11, 2023
IMF says US Treasuries dynamic is 'very unfavorable'

It says US fiscal path is unsustainable and forecasts ongoing debt growth.

By Bloomberg
Can earnings continue to resist impact of rate hikes?
INDUSTRY NEWS OCT 11, 2023
Can earnings continue to resist impact of rate hikes?

As Q3 earnings season begins, questions will be asked.

By Bloomberg
EM stocks tumble to lowest level since 1987
INDUSTRY NEWS OCT 11, 2023
EM stocks tumble to lowest level since 1987

Developing nation equities have suffered significant pullbacks from investors.

By Bloomberg
Judge lets Finra proceed with enforcement action against broker
REGULATION AND LEGISLATION OCT 10, 2023
Judge lets Finra proceed with enforcement action against broker

'If Finra doesn’t have the ability to enforce its own rules and discipline its members, then chaos will reign,' says PIABA President Hugh Berkson.

By Mark Schoeff Jr.
Finra tags advisor for sales of GPB alternatives
ALTERNATIVES OCT 10, 2023
Finra tags advisor for sales of GPB alternatives

"It’s frustrating to see Finra charging brokers after the nail is in the coffin of [clients'] portfolios," one attorney says.

By Bruce Kelly
Americans saved hundreds of billions more than previously thought
INDUSTRY NEWS OCT 10, 2023
Americans saved hundreds of billions more than previously thought

The fact that households are in better shape financially could make a recession less likely.

By Bloomberg
LPL nabs team managing $900M at RBC
BROKER DEALERS OCT 10, 2023
LPL nabs team managing $900M at RBC

The four advisors are launching Sides Wealth Advisory Group in York, Pennsylvania.

By InvestmentNews
Philanthropist Chuck Feeney dies aged 92, with $8B 'giving while living' legacy
INDUSTRY NEWS OCT 10, 2023
Philanthropist Chuck Feeney dies aged 92, with $8B 'giving while living' legacy

The entrepreneur was the ultimate example of using wealth to do good.

By Steve Randall