RIA News

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Exec charged over JPMorgan fraud case
ADVISOR NEWS REGULATION AND LEGISLATION JUL 17, 2023
Exec charged over JPMorgan fraud case

$175 million sale snares another defendant with charges of securities fraud, wire fraud and conspiracy.

By Matthew Sellers
China disappoints but Wall Street banks should delight
RIAS RIA NEWS JUL 17, 2023
China disappoints but Wall Street banks should delight

Investors are awaiting US big banks' earnings which have benefitted from rising rates.

By Bloomberg
Investors want Musk to focus on Tesla as EV competition grows
RIAS RIA NEWS JUL 17, 2023
Investors want Musk to focus on Tesla as EV competition grows

The eccentric billionaire is seen a risk to Tesla's share price as he often appears focused elsewhere.

By Bloomberg
Advisors pulled out of equities, increased exposure to alts in 2022
INVESTING ALTERNATIVES JUL 14, 2023
Advisors pulled out of equities, increased exposure to alts in 2022

Just because alts have been democratized doesn’t mean they're a fit for everyone, advisor warns.

By Ryan W. Neal
Biden unveils new student debt forgiveness plan  
ADVISOR NEWS REGULATION AND LEGISLATION JUL 14, 2023
Biden unveils new student debt forgiveness plan  

After being shot down by the Supreme Court, the administration has unveiled a revamped plan that could benefit more than 800,000 borrowers.

By Matthew Sellers
DFA request for ETF share classes marks tipping point for legacy fund companies
RIAS RIA NEWS JUL 14, 2023
DFA request for ETF share classes marks tipping point for legacy fund companies

The $614 billion asset manager is applying a full-court press to take advantage of an expired Vanguard patent.

By Jeff Benjamin
How to keep junior advisors from washing out before they get started
RIAS PRACTICE MANAGEMENT JUL 14, 2023
How to keep junior advisors from washing out before they get started

Wealth management firm explains how it bucked the trend with a 90% retention rate.

By Gregg Greenberg
Rising assets, rates stabilize wealth management at Wells Fargo
ADVISOR NEWS WIREHOUSES JUL 14, 2023
Rising assets, rates stabilize wealth management at Wells Fargo

Along with net interest income, the bank’s total client assets also grew.

By Bruce Kelly
Wells Fargo shares jump after Q2 results exceed estimates
ADVISOR NEWS WIREHOUSES JUL 14, 2023
Wells Fargo shares jump after Q2 results exceed estimates

Bank's net interest income soars on back of Fed rate hikes.

By Bloomberg
JPMorgan posts record revenue on interest rates, First Republic deal
RIAS RIA NEWS JUL 14, 2023
JPMorgan posts record revenue on interest rates, First Republic deal

The firm's $41.3 billion in revenue beat analysts' expectations, fueled by $21.8 billion in net interest income as well as a $2.7 billion gain on its purchase of First Republic.

By Bloomberg
Retirement provider Ascensus taps Good as new president
ADVISOR NEWS RETIREMENT PLANNING JUL 14, 2023
Retirement provider Ascensus taps Good as new president

Nick Good takes over the role from Ascensus CEO and Chair David Musto, who will now devote more of his time to overall leadership of the organization.

By Gregg Greenberg
JPMorgan's Dimon takes a swipe at Bidenomics as 'political' interference
RIAS RIA NEWS JUL 14, 2023
JPMorgan's Dimon takes a swipe at Bidenomics as 'political' interference

The outspoken banking chief also says the government’s $5 trillion stimulus program is fueling inflation.

By Steve Randall
Charles Schwab announces TD Ameritrade data breach
ADVISOR NEWS FINTECH JUL 14, 2023
Charles Schwab announces TD Ameritrade data breach

Tens of thousands of clients could have been affected by huge attack resulting from vulnerabilities found in MOVEit file transfer software.

By Matthew Sellers
Hightower Advisors gains HNW tax advantage through strategic investment
RIAS RIA NEWS JUL 14, 2023
Hightower Advisors gains HNW tax advantage through strategic investment

The deal will enhance the Chicago-based firm's tax advisory services for high-net-worth and business clients.

By Matthew Sellers
Equities have performed their best since March this week
RIAS RIA NEWS JUL 14, 2023
Equities have performed their best since March this week

Despite a pause in the rally Friday, stocks are on course for a strong week

By Bloomberg
Fed's Waller calls for two more rate hikes likely by year-end
RIAS RIA NEWS JUL 14, 2023
Fed's Waller calls for two more rate hikes likely by year-end

The Fed chair says increasing by another 50 basis points will be necessary to bring inflation down to the central bank’s target

By Bloomberg
Equities rally does not signal end of risk, warns Goldman Sachs
RIAS RIA NEWS JUL 14, 2023
Equities rally does not signal end of risk, warns Goldman Sachs

The bank's strategists say risk of recession, rates, and central bank surprises all remain elevated

By Bloomberg
Credit Suisse bleeds bankers, UBS saves on payouts
RIAS PRACTICE MANAGEMENT JUL 14, 2023
Credit Suisse bleeds bankers, UBS saves on payouts

Rivals have poached dozens of senior Credit Suisse investment bankers in recent months, reducing the need for big redundancy packages for UBS.

By Matthew Sellers
Saving for college hurts retirement for nearly 60%, survey says
ADVISOR NEWS RETIREMENT PLANNING JUL 13, 2023
Saving for college hurts retirement for nearly 60%, survey says

A new rule for 529-to-IRA rollovers could help those who have both retirement and college savings goals.

By Emile Hallez
Future of Thrivent Advisor Network in question after Armitage exit
RIAS RIA NEWS JUL 13, 2023
Future of Thrivent Advisor Network in question after Armitage exit

Top exec says firm changed direction as platform posed too much competition for its legacy insurance side.

By Jeff Benjamin