SEC slaps Aegis Capital with $2.3 million penalty
The firm was charged with inadequately supervising its representatives, who made unsuitable recommendations of structured products.
National Securities shuts down after 75 years, reps rolled into B. Riley
B. Riley Financial had purchased a large stake in National Securities Corp.'s parent in 2018 and bought the remaining shares last year.
House committee presses Wells Fargo rep on Biden family deals
Rep. James Comer is calling on Edward Prewitt, who advised Hunter Biden, to provide information related to deals that triggered suspicious activity reports.
Secrets to success for RIAs
Schwab’s annual benchmarking study shows top-performing firms are more likely to use such tools as marketing plans and ideal client profiles.
Proposed end of carried interest would mean tax hike for rich Wall Streeters
The tax deal in the Senate would eliminate the tax break used by private equity and hedge fund managers.
Integrity Marketing to acquire Annexus
Ron Shurts, co-founder and CEO of Annexus, which develops annuities and other insurance products, will become a managing partner of Integrity.
Crypto scams must be reined in, Senate Banking Committee says
At a hearing Thursday on scams and risks in the crypto and securities markets, senators on both sides of the aisle pitched legislation to protect investors from harm.
Raymond James hanging onto RIA assets of shifting advisers: Reilly
Raymond James said that its head count of private client group financial advisers was 8,616 at the end of June, an increase of 203 compared to a year earlier.
Caregivers not taking care of their own finances: Fidelity
A new study shows 7 out of 10 caregivers are so focused on their caregiving duties that they put off addressing their own needs.
Economy shrinks for second straight quarter, pumping up recession angst
Inflation undercut consumer spending and Federal Reserve interest-rate hikes stymied businesses and housing.
Sen. Joe Manchin rebuffs changes to SALT deduction
Several House Democrats have said their support of any tax-code changes is contingent on raising the SALT cap.
SEC fines J.P. Morgan, UBS, TradeStation total of $2.5 million for lax ID theft prevention
Each of the firms failed to comply with the agency's rule on identify theft red flags.
SEI launches practice management hub
The asset manager's new resource, Growth Lab, will provide tools to help independent financial advisers with growing their practices and lead generation.
Empower to administer North Carolina DC plans through 2028
The five-year contract covers the state’s 401(k) and 457 supplemental plans for state employees.
Fed raises rates by 75 basis points for second straight month to curb surging inflation
Chair Jerome Powell says Fed will slow the pace of rate hikes at some point and would set policy on a meeting-by-meeting basis.
Hightower names Robert Picard to head alternatives
Former First Republic executive built alternatives platforms at Carlyle Group, RBC.
Ameriprise reports robust hiring of advisers despite market turbulence
The total head count of financial advisers at Ameriprise increased 2% in the second quarter compared to June 2021, reaching 10,245.
Only 35% of Americans seek financial adviser’s help
Nearly two-thirds admit needing more planning assistance, Northwestern Mutual survey finds.
Will a target-date fund crash bury the boomers?
A TDF specialist likens the current market environment to that in 2008, when TDFs fell more than 30%.
Fed expected to deliver largest back-to-back rate hike in decades
The FOMC is expected to raise rates by 75 basis points with investors seeking signs of a downshift in September.
