RIA News

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Raymond James succession plan rolls on with RJA division shakeup
INDEPENDENT BROKER DEALERS AUG 16, 2024
Raymond James succession plan rolls on with RJA division shakeup

The broker-dealer giant is shuffling the leadership within Raymond James & Associates as part of its broader seismic reorganization.

By Leo Almazora
Where has all the cash gone?
RIA NEWS AUG 16, 2024
Where has all the cash gone?

New Advyzon reports finds cash allocation dipped from 9.5% in 2021 to 4.6% by the end of 2023.

By Josh Welsh
Strong US economy pushes equities towards best week of 2024
RIA NEWS AUG 16, 2024
Strong US economy pushes equities towards best week of 2024

Recession fears are easing amid positive data releases.

By Bloomberg
RIA NEWS AUG 16, 2024
Retail brokerage, wealth management firms to face continued pressure on margins

Fitch says that strong performance remains offset by higher costs.

By Steve Randall
Fincentric merges with former InvestCloud CEO’s firm, plans expansion
RIA NEWS AUG 16, 2024
Fincentric merges with former InvestCloud CEO’s firm, plans expansion

Private equity firm Stellex Capital and Communify acquire firm from S&P Global.

By Steve Randall
Equity funds rebound as investors shrug off August selloff
RIA NEWS AUG 16, 2024
Equity funds rebound as investors shrug off August selloff

BofA note says funds are seeing inflows across asset classes.

By Bloomberg
Dealers are holding highest level of Treasuries than ever before
RIA NEWS AUG 16, 2024
Dealers are holding highest level of Treasuries than ever before

Record holdings by primary dealers last week, says New York Fed.

By Bloomberg
Why have foreign investors escalated Japanese stock trades?
RIA NEWS AUG 16, 2024
Why have foreign investors escalated Japanese stock trades?

BoJ recently went against the grain on interest rates.

By Bloomberg
Creative Planning hangs "Help Wanted" sign for advisors
RIA NEWS AUG 15, 2024
Creative Planning hangs "Help Wanted" sign for advisors

"I think we’re gearing up to really grow very aggressively in the coming 15 months," says CEO Peter Mallouk.

By Bruce Kelly
More advisors adding utilities to juice up client portfolios
RIA NEWS AUG 15, 2024
More advisors adding utilities to juice up client portfolios

Wealth managers are increasingly turning to normally overlooked utility stocks for both yield and growth.

By Gregg Greenberg
New Yorkers' debt woes grow amid slide in real income
RIA NEWS AUG 15, 2024
New Yorkers' debt woes grow amid slide in real income

Inflation is biting harder in the Big Apple, leading to more debt dependence, according to new Federal Reserve research.

By Bloomberg
Summit Trail plants stake in California with $500M advisor
RIA NEWS AUG 15, 2024
Summit Trail plants stake in California with $500M advisor

Another ultra-high-net-worth advisor from BNP Paribas/Bank of the West’s $3B Key Client Group has officially joined the Dynasty Network firm.

By Leo Almazora
SEC fines 26 firms a combined $390M for recordkeeping failures
RIA NEWS AUG 15, 2024
SEC fines 26 firms a combined $390M for recordkeeping failures

Firms that self-reported their violations will pay less than they would have done.

By Steve Randall
NewEdge Capital headed for another record year of growth for assets, advisors
RIA NEWS AUG 15, 2024
NewEdge Capital headed for another record year of growth for assets, advisors

Strong recruitment in the first half of 2024 has built on record 2023.

By Steve Randall
US futures up slightly following CPI print
RIA NEWS AUG 15, 2024
US futures up slightly following CPI print

Expectations for a soft landing, Fed cuts buoyed by data.

By Bloomberg
Americans should save $7.5B from drug price cuts, government says
RIA NEWS AUG 15, 2024
Americans should save $7.5B from drug price cuts, government says

Senior citizens set to save $1.5B in out-of-pocket expenses in year one.

By Bloomberg
World’s second largest economy continues to disappoint
RIA NEWS AUG 15, 2024
World’s second largest economy continues to disappoint

China’s weakness has extended into the third quarter.

By Bloomberg
Swedish fintech eyes Goldman Sachs for US IPO
RIA NEWS AUG 15, 2024
Swedish fintech eyes Goldman Sachs for US IPO

Klarna Bank plans to go public in the US in 2025.

By Bloomberg
NFP snaps up LA-based HNW financial concierge
RIA NEWS AUG 14, 2024
NFP snaps up LA-based HNW financial concierge

The global financial services firm and Aon subsidiary is elevating its service to affluent entertainers and athletes with its latest acquisition

By Leo Almazora
After UBS earnings, is cash sweep drama over?
INDEPENDENT BROKER DEALERS AUG 14, 2024
After UBS earnings, is cash sweep drama over?

Broker-dealers are particularly interest rate sensitive companies.

By Bruce Kelly