Industry News

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Oppenheimer hires capital-raising veteran to focus on fintech investing
NEWS INDUSTRY NEWS JUL 27, 2023
Oppenheimer hires capital-raising veteran to focus on fintech investing

The firm has appointed a head of financial technology investment banking to lead investment and financial advisory for the growing industry.

By Steve Randall
Markets consider peak rates, boosting global equities
NEWS INDUSTRY NEWS JUL 27, 2023
Markets consider peak rates, boosting global equities

The Fed's comments on waiting for the data has given new optimism to investors Thursday.

By Bloomberg
Crypto regulation framework moves forward but will it become law?
NEWS INDUSTRY NEWS JUL 27, 2023
Crypto regulation framework moves forward but will it become law?

Bill approved by House Finance Committee but may stall further down the legislative process.

By Bloomberg
Greenback weakens and it could get worse after Fed signals
NEWS INDUSTRY NEWS JUL 27, 2023
Greenback weakens and it could get worse after Fed signals

US dollar bears believe there is further weakening ahead.

By Bloomberg
Raymond James sees record client assets at end of June
NEWS BROKER DEALERS JUL 26, 2023
Raymond James sees record client assets at end of June

Meanwhile, the firm was keeping mum on 60 financial advisors from one group that left Raymond James last quarter.

By Bruce Kelly
Roth IRAs, 401(k)s for all? Not so fast, advisors say
NEWS RETIREMENT PLANNING JUL 26, 2023
Roth IRAs, 401(k)s for all? Not so fast, advisors say

While Ed Slott urged readers to stop contributing to traditional tax-deferred accounts, others take a more nuanced view.

By Emile Hallez
$425 million advisory team jumps to LPL from Merrill
NEWS BROKER DEALERS JUL 26, 2023
$425 million advisory team jumps to LPL from Merrill

Woman-led firm sets up independent practice in Washington state.

By Matthew Sellers
Merrill Lynch team with $450m leaves for Steward Partners
NEWS BROKER DEALERS JUL 26, 2023
Merrill Lynch team with $450m leaves for Steward Partners

Advisors Mark Morasky, Erik Clay and Chris Figaro are launching Vantage Point Private Wealth.

By Ryan W. Neal
Biden selects Martin O'Malley for Social Security commissioner
NEWS RETIREMENT PLANNING JUL 26, 2023
Biden selects Martin O'Malley for Social Security commissioner

The agency is responsible for distributing Social Security to more than 70 million beneficiaries and commands a $1 trillion budget.

By Ryan W. Neal
SEC proposal would require brokers, advisors to remediate conflicts related to use of AI
NEWS FINTECH JUL 26, 2023
SEC proposal would require brokers, advisors to remediate conflicts related to use of AI

SEC Chair Gary Gensler says investors deserve to be protected but a critic argues proposal shows 'hostility toward technology.'

By Mark Schoeff Jr.
Advisors roll with the Fed's well-telegraphed monetary policy move
NEWS RIAS JUL 26, 2023
Advisors roll with the Fed's well-telegraphed monetary policy move

The June pause in the rate-hike cycle has introduced the possibility of another pause in September, but most advisors see rates higher for longer.

By Jeff Benjamin
Gold investors watch and wait through yellow metal's 'summer lull'
NEWS ALTERNATIVES JUL 26, 2023
Gold investors watch and wait through yellow metal's 'summer lull'

Gold has been hovering around $2,000 an ounce since the start of 2023, failing to break out in the face of repeated Fed rate hikes.

By Gregg Greenberg
Federal Reserve reveals latest interest-rate decision
NEWS INDUSTRY NEWS JUL 26, 2023
Federal Reserve reveals latest interest-rate decision

Will central bank pause again or hike to combat stubborn inflation?

By InvestmentNews
Finra fines LPL $3M for failing to detect wire transfers that harmed clients
NEWS BROKER DEALERS JUL 26, 2023
Finra fines LPL $3M for failing to detect wire transfers that harmed clients

One broker used client funds to pay expenses, while another used client cash to buy real estate.

By Bruce Kelly
Our next moon goal — the best for the world
NEWS OPINION JUL 26, 2023
Our next moon goal — the best for the world

InvestmentNews board member Dr. Benjamin Akande, a distinguished economist, shares an inspiring message.

By Dr. Benjamin Akande
"Our glass is half empty" — why your clients are worried
NEWS RETIREMENT PLANNING JUL 26, 2023
"Our glass is half empty" — why your clients are worried

It's not just older workers who are concerned about their ability to save for retirement.

By Matthew Sellers
Fed set to hike rates to 22-year high today, experts give their views
NEWS REGULATION AND LEGISLATION JUL 26, 2023
Fed set to hike rates to 22-year high today, experts give their views

The Federal Reserve will make the announcement at 2 p.m. ET and markets are expecting another increase.

By Steve Randall
Lenders announce merger as shockwaves from SVB collapse rumble on
NEWS INDUSTRY NEWS JUL 26, 2023
Lenders announce merger as shockwaves from SVB collapse rumble on

Two California-based banks reach agreement.

By Matthew Sellers
Osaic gains $250M advisor team, its first since rebrand from Advisor Group
NEWS BROKER DEALERS JUL 26, 2023
Osaic gains $250M advisor team, its first since rebrand from Advisor Group

The firm has welcomed a team from Walnut Creek, California, that was previously with Cetera Advisors.

By Steve Randall
Markets stall ahead of Fed rate call
NEWS INDUSTRY NEWS JUL 26, 2023
Markets stall ahead of Fed rate call

But hopes of a soft landing bolstered by latest consumer confidence figures.

By Bloomberg