RIA News

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OPEC+ set to postpone oil supply hike as prices slide
RIAS RIA NEWS SEP 05, 2024
OPEC+ set to postpone oil supply hike as prices slide

Cartel was due to increase output in October.

BofA's investment in e-trading for bonds is paying off
RIAS RIA NEWS SEP 05, 2024
BofA's investment in e-trading for bonds is paying off

Wall Street bank is seeing strong trading volumes in Europe.

Morgan Stanley pulls back on plastic pollution targets
RIAS RIA NEWS SEP 05, 2024
Morgan Stanley pulls back on plastic pollution targets

Bank no longer has a specific goal for this area of sustainable financing.

Banks are ceding their wealth funnel advantage, says Cerulli
RIAS PRACTICE MANAGEMENT SEP 04, 2024
Banks are ceding their wealth funnel advantage, says Cerulli

A growing gap between clients' use of traditional deposit accounts and wealth management services hints at an untapped opportunity.

By Leo Almazora
Post CEO role, 'Omani' Carson talks psychedelics and sustainability
RIAS RIA NEWS SEP 04, 2024
Post CEO role, 'Omani' Carson talks psychedelics and sustainability

Ron Carson, who goes by Omani outside of financial services, is holding spiritual retreats and wants to build an intentional community called "Omya." He also recently became part owner of a soccer team.

By Emile Hallez
SEC's battle for hedge fund fee transparency dies in Supreme Court
INVESTING ALTERNATIVES SEP 04, 2024
SEC's battle for hedge fund fee transparency dies in Supreme Court

The federal securities regulator earns praise from industry groups as its legal battle for private fund disclosure requirements comes to an end.

By Bloomberg
Barred B-D owner back in hot water with SEC in alleged healthcare fraud
ADVISOR NEWS INDEPENDENT BROKER DEALERS SEP 04, 2024
Barred B-D owner back in hot water with SEC in alleged healthcare fraud

"These types of brokers and executives are the scourge of the industry," said one plaintiff's attorney.

By Bruce Kelly
Cetera expands in Texas with veteran husband-wife duo
RIAS RIA NEWS SEP 04, 2024
Cetera expands in Texas with veteran husband-wife duo

Leading a seven-person team, the advisor couple with 60 years of combined experience provide comprehensive planning for roughly 500 clients in Houston.

By Leo Almazora
Sound Income Group sharpens brand focus with relaunched coaching division
RIAS RIA NEWS SEP 04, 2024
Sound Income Group sharpens brand focus with relaunched coaching division

The diversified financial services company in Florida is reaffirming its focus on income with a rebrand of its consulting and marketing arm for independent annuity producers.

By Leo Almazora
Wisconsin advisor to serve 4.5 years for $1.8M con
ADVISOR NEWS REGULATION AND LEGISLATION SEP 04, 2024
Wisconsin advisor to serve 4.5 years for $1.8M con

The advisor lied to unsuspecting clients, including vulnerable retirees, for over 20 years to fund his gambling, cars, collectibles and other personal expenses.

By Leo Almazora
Bluespring taps M&A veteran Jayaraman as its new president
RIAS RIA NEWS SEP 04, 2024
Bluespring taps M&A veteran Jayaraman as its new president

The veteran closer and leader is expected to drive further growth as he brings a record of dealmaking success from Focus and Goldman Sachs.

By Leo Almazora
The ultra-rich will control $9.5T by 2030, says Deloitte
RIAS RIA NEWS SEP 04, 2024
The ultra-rich will control $9.5T by 2030, says Deloitte

The consultancy's bullish forecast, driven by an acceleration in family offices, predicts a 73 percent jump in UHNW wealth in the coming years.

By Bloomberg
Clearlake Capital to expand private credit capabilities with $5.1B AUM acquisition
RIAS RIA NEWS SEP 04, 2024
Clearlake Capital to expand private credit capabilities with $5.1B AUM acquisition

US firm's transaction expected to close by the end of 2024.

By Steve Randall
Wealthtech solutions market set for $6B growth from blockchain, AI
RIAS RIA NEWS SEP 04, 2024
Wealthtech solutions market set for $6B growth from blockchain, AI

Transformational impact on financial services will fuel increase through 2028.

By Steve Randall
Global stocks slide as investors shun big tech
RIAS RIA NEWS SEP 04, 2024
Global stocks slide as investors shun big tech

US economy is also high on the agenda amid growth fears.

Wall Street's T+1 switch isn't going as smoothly as hoped
RIAS RIA NEWS SEP 04, 2024
Wall Street's T+1 switch isn't going as smoothly as hoped

Citigroup survey reveals bumpy transition for many industry players.

Gold in decline as traders weigh market conditions
RIAS RIA NEWS SEP 04, 2024
Gold in decline as traders weigh market conditions

Broad sell-off has hit even the safest of havens.

BofA joins peers in downgrading China growth
RIAS RIA NEWS SEP 04, 2024
BofA joins peers in downgrading China growth

Wall Street titans are calling for growth below 5%.

Advisors weigh in on Vice President's wealth tax proposal
RIAS RIA NEWS SEP 03, 2024
Advisors weigh in on Vice President's wealth tax proposal

Vice President Kamala Harris's proposed tax on billionaires creates a lot of questions for financial advisors, especially when it comes to taxing unrealized capital gains.

By Gregg Greenberg
Raymond James agrees to $1.8M in Finra fines over supervision failures
ADVISOR NEWS INDEPENDENT BROKER DEALERS SEP 03, 2024
Raymond James agrees to $1.8M in Finra fines over supervision failures

Some customer complaints went unreported, and many mutual fund purchases were not reviewed, according to the self-regulatory organization.

By Emile Hallez