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Bitcoin ‘stuck at the moment’ as record cash flees crypto ETFs
A UBS analysis shows April is set to see the largest crypto-ETF outflows on record, with investors having pulled more than $417 million so far this month.
Fidelity unveils crypto option for 401(k) plans
The product will allow 401(k) participants to invest a portion of their savings in Bitcoin; employers that offer the option will decide what percentage of an employee's account can be directed into crypto.
Wall Street firms make crypto push to catch up with ‘cool kids’
Earlier resistance could impede Wall Street’s latest efforts to stay competitive, just as regulatory uncertainty and internal compliance cloud expansion plans.
Finra tells firms to step up oversight of sales of liquid alts
The regulatory notice is another example of Finra's increased scrutiny of complex products.
LA broker at lead firm that sold GWG bonds hit with complaints
Tony Barouti, a broker registered with Emerson Equity, faces two investor complaints alleging $1.37 million in damages, according to his BrokerCheck profile.
Alternatives become bigger slice of client portfolios as advisers seek shelter
Financial advisers hoping to steer clients away from market volatility and economic chaos are finding comfort in less-liquid strategies.
GWG blames SEC investigation of brokers for its collapse
The SEC's probe of GWG spilled over to include the sales practices of some of the 145 broker-dealers that sold the bonds, according to bankruptcy filings.
HGGC forms new company to invest in RIA space
Aspire Holdings will hold the firm’s investments in RIAs as it pursues a plan to invest up to $300 million in the sector.
CAIA introduces specialized alts learning platform
Upon completion of the modules within the platform, called UniFi by CAIA, participants will earn microcredentials.
GWG Holdings files for bankruptcy
The market has been anticipating the move for more than two weeks; the company has struggled of late and repeatedly missed the deadline to file audited financial statements in the past couple of years.
Cannabis investments mellow as Congress tarries on decriminalization
With the Biden administration having let them down, the marijuana industry is now betting on a Republican takeover of Congress.
Blackstone adds to bet on student housing with $13 billion deal
Blackstone and other PE firms are wagering that off-campus housing will provide better returns than apartments and other residential assets, which have soared in value since the pandemic.
Bank of America wealth group sees head count drop as revenues climb
Adviser ranks are falling, but the bank reports 7,800 net new client relationships and a growing thirst for alternative investments.
Into the metaverse
Financial services firms are hanging out their shingles in the burgeoning world of virtual societies, hoping to attract a new breed of digitally native customers.
Industry groups want DOL to withdraw guidance on use of cryptocurrency
The agency's cautioning against using crypto in retirement accounts violates current law and sidesteps public input, the trade associations argue.
Advisers weigh the appeal of the commodity rally
As commodity funds post double-digit gains this year, some advisers wonder if it's too late to join the party.
Fidelity adds two ETFs focusing on crypto, metaverse
One of the funds will track the digital payments industry, and the other will focus on companies tied to emerging virtual worlds.
GPB Capital sells another asset, this time land in New Jersey
Net proceeds of the Newark, New Jersey, land deal will benefit investors in one private placement, GPB Cold Storage.
Advisers buckle up for more market volatility
Trouble in the bond markets is moving investment portfolios well beyond traditional allocations of 60% stocks and 40% bonds.
Finra smacks National Securities with $663,000 penalty over private placement
The agency said Boca Raton, Florida-based National Securities deceived investors in December 2017 and January 2018 about the price of shares in the private placement offering.
