Industry News

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JPMorgan sees up to $150B inflows to India
NEWS INDUSTRY NEWS SEP 25, 2023
JPMorgan sees up to $150B inflows to India

India's fast-rising GDP among the attributes that make it so attractive.

By Bloomberg
The puzzle posed by annuities
NEWS RETIREMENT PLANNING SEP 25, 2023
The puzzle posed by annuities

Perhaps the lack of demand among clients is a function of a lack of understanding of annuities among advisors.

By InvestmentNews
TIAA hires six new leaders for wealth management team
NEWS RETIREMENT PLANNING SEP 22, 2023
TIAA hires six new leaders for wealth management team

The executives, all of whom are joining from other firms, will complement TIAA's current staff 'to help clients prepare for retirement and reach their financial goals,' an executive says.

By Ryan W. Neal
Climate Week's biggest news wasn't part of Climate Week
NEWS ESG SEP 22, 2023
Climate Week's biggest news wasn't part of Climate Week

Major regulations and legislation made headlines, and big asset managers faced protests over fossil fuels.

By Emile Hallez
SEC penalizes small Wisconsin B-D $50,000 over Reg BI faults
NEWS REGULATION AND LEGISLATION SEP 22, 2023
SEC penalizes small Wisconsin B-D $50,000 over Reg BI faults

Carl M. Hennig Inc. has 10 registered reps and about $1.3 billion in client assets.

By Bruce Kelly
Wells Fargo names Tom Nides vice chairman
NEWS PRACTICE MANAGEMENT SEP 22, 2023
Wells Fargo names Tom Nides vice chairman

Nides, former U.S. ambassador to Israel, has moved back and forth between Washington and Wall Street for years, including two stints at Morgan Stanley.

By Bloomberg
JPMorgan Private Bank hires $2B high-net-worth advisor team from rival
NEWS ADVISOR MOVES SEP 22, 2023
JPMorgan Private Bank hires $2B high-net-worth advisor team from rival

Three advisors boost the firm's reach in the Pacific Northwest.

By Steve Randall
Home-flipping profits increased in the second quarter
NEWS INDUSTRY NEWS SEP 22, 2023
Home-flipping profits increased in the second quarter

But we are a long way from the peaks hit in 2021, and will the trend stick?

By Steve Randall
Hedge fund billionaire accused of hiding assets during divorce
NEWS INDUSTRY NEWS SEP 22, 2023
Hedge fund billionaire accused of hiding assets during divorce

Lawsuit alleges John Paulson used a sham home sale to gain $10M from family trust.

By Bloomberg
China may change foreign cap to entice global funds
NEWS INDUSTRY NEWS SEP 22, 2023
China may change foreign cap to entice global funds

Beijing is considering ways to boost trading on three key markets.

By Bloomberg
China's ultra-rich head home as tensions with US increase
NEWS INDUSTRY NEWS SEP 22, 2023
China's ultra-rich head home as tensions with US increase

Wealthy Gen Zs are mulling whether to stay in the West or return to Asia to build their wealth.

By Bloomberg
Altruist eliminates software fees for RIAs
NEWS FINTECH SEP 21, 2023
Altruist eliminates software fees for RIAs

Advisors who custody exclusively with Altruist will receive free software, while firms that work other custodians will get the first 100 accounts for free.

By Ryan W. Neal
Political clock ticks as Labor readies next version of fiduciary rule
NEWS RETIREMENT PLANNING SEP 21, 2023
Political clock ticks as Labor readies next version of fiduciary rule

The measure is likely to make a rollover recommendation a fiduciary act. But if the agency doesn't complete the measure soon, it's vulnerable to being overturned by the next Congress and White House.

By Mark Schoeff Jr.
Former Merrill star manager Oden jumps to  HSBC
NEWS PRACTICE MANAGEMENT SEP 21, 2023
Former Merrill star manager Oden jumps to HSBC

But big banks can fall flat when it comes to building a home for financial advisors.

By Bruce Kelly
Securitized products offer safe alternatives to Treasuries, says Janus Henderson strategist
NEWS INDUSTRY NEWS SEP 21, 2023
Securitized products offer safe alternatives to Treasuries, says Janus Henderson strategist

Economy remains resilient despite interest-rate hikes, and mortgages are very cheap right now, says John Kerschner.

By Gregg Greenberg
BlackRock, State Street among asset managers closing ESG funds
NEWS ESG SEP 21, 2023
BlackRock, State Street among asset managers closing ESG funds

Fund companies unwound more than two dozen ESG funds this year, according to Morningstar data.

By Bloomberg
Why you should be offering 'unretirement' planning solutions
NEWS RETIREMENT PLANNING SEP 21, 2023
Why you should be offering 'unretirement' planning solutions

Millions of Americans plan to return to work for financial or social reasons.

By Steve Randall
Fed may have to hike again, says JPMorgan chief
NEWS INDUSTRY NEWS SEP 21, 2023
Fed may have to hike again, says JPMorgan chief

Jamie Dimon says the central bank was "a day late and a dollar short" in beginning hikes and may have to do more.

By Bloomberg
Bond traders expect higher yields after Fed signals
NEWS INDUSTRY NEWS SEP 21, 2023
Bond traders expect higher yields after Fed signals

Short-term underperformance should be expected.

By Bloomberg
Investors urge policymakers to aid $275T for net zero
NEWS ESG SEP 21, 2023
Investors urge policymakers to aid $275T for net zero

Influential group says barriers to investment in clean energy must be removed.

By Bloomberg