How the end of affirmative action could hurt financial advice
Diversity among financial advisors is currently lacking, and the Supreme Court's ruling is unlikely to help.
Largest banks all pass Fed’s annual stress test
All 23 banks tested remained above minimum capital requirements during a simulated recession that projected total losses of $541 billion
Investors favoring taxable accounts over IRAs, 401(k)s
As wealthier clients approach retirement, advisors must focus on income strategies, Hearts & Wallets says.
Carson Group parts ways with its first chief technology officer
Nimesh Patel was named to the firm's newly created CTO position in February 2022.
Fed traders boost wagers on two hikes by year-end
Bets fueled by US jobless claims declining by most since 2021.
Finishing jail term for Ponzi, recidivist fraudster sold another: Feds
'A leopard doesn’t change its spots,' one industry attorney said of Wilson Baston of Brooklyn, New York, who had pleaded guilty in 2008 to deceiving hundreds of investors in a Ponzi scheme.
Morgan Stanley gets serious about a new CEO
Wealth management boss on shortlist of three to replace outgoing Aussie.
SEC report on RIA mandatory arbitration leaves many questions about potential investor harm
The report says more than half of investment advisors force their clients to go to arbitration to settle disputes, but it doesn't put a number on RIA arbitration cases or the costs for claimants.
Fidelity to convert $13 billion of mutual funds into ETFs
The shift from mutual funds to exchange-traded funds has affected almost $100 billion in assets, as investors opt for lower-cost, tax-efficient ETFs over mutual funds.
LPL snaps up advisor team managing $375 million in assets
Desire for more independence, time with clients lead Indiana team to switch from Cetera.
MaxMyInterest partners with eMoney to give planners access to high-yield cash accounts
MaxMyInterest's services will be available to more than 100,000 advisors using eMoney.
InvestmentNews announces major new investment, growth initiative
Big growth plans ahead as IN adds more staff, eyes international expansion.
NAPFA OKs membership for advisors with trailing commissions
If advisors receive $2,500 or less in commissions and donate the proceeds to charity, they can join the fee-only organization.
How to keep your clients from retiring more than once
Mike Lynch of Hartford Funds talks about the factors that can cause a retiree to return to the workforce.
Inflation-safe ETFs see record $17 billion exit
Exchange-traded funds designed to protect against inflation have faltered in the face of still sticky price pressure, leading many investors to rush for the exits.
Finra sues smoothie-throwing broker for ducking cash reporting rules
James Iannazzo made cash transactions totaling close to $846,000 to avoid detection, the regulator alleges.
UBS plans to cut over half of Credit Suisse employees
Banks, traders and support staff in Credit Suisse's investment bank in London, New York and some parts of Asia are expected to bear the brunt of the cuts.
Campaign against ESG isn’t dissuading asset managers
Regulatory changes, social pressure and demand from clients are keeping fund companies focused on ESG, according to a survey.
Procyon Partners adds two advisors managing $600 million
Frank McKiernan and Jerry Sneed are joining Procyon, a Dynasty Financial network firm, from Baker Tilly Wealth Management.
ESG investors get set of global reporting standards
The voluntary framework published by the International Sustainability Standards Board paves the way for companies across jurisdictions to report uniform climate and sustainability information.
