Industry News

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Bond rally continues as traders eye end of rate hikes
NEWS INDUSTRY NEWS JUL 18, 2023
Bond rally continues as traders eye end of rate hikes

Global traders are anticipating an end to interest rate rises by the Fed and European central banks as inflation eases.

By Bloomberg
Investors tell BofA poll that soft landing is expected
NEWS INDUSTRY NEWS JUL 18, 2023
Investors tell BofA poll that soft landing is expected

The Wall St. firm's latest global survey also reveals that being long big tech is the most overcrowded trade.

By Bloomberg
Morgan Stanley deepens strategic alliance with MUFG
NEWS INDUSTRY NEWS JUL 18, 2023
Morgan Stanley deepens strategic alliance with MUFG

The two firms will integrate some operations and some employees will move firms as the partners shore up operations for the long term.

By Bloomberg
IRS provides limited RMD relief
NEWS IRA ALERT JUL 17, 2023
IRS provides limited RMD relief

After the SECURE 2.0 Act's new rules resulted in confusion, the IRS issues notice providing relief on required minimum distributions.

By Ed Slott
Stifel advisor facing $23.5 million in investor claims over structured notes
NEWS ALTERNATIVES JUL 17, 2023
Stifel advisor facing $23.5 million in investor claims over structured notes

The Miami Beach, Florida-based advisor, Chuck Roberts, is a 33-year industry veteran and has worked at Stifel since 2016.

By Bruce Kelly
401(k)s need private equity and real estate, study says
NEWS RETIREMENT PLANNING JUL 17, 2023
401(k)s need private equity and real estate, study says

If plans can address liquidity and valuation concerns, they could benefit from higher returns, Georgetown CRI found.

By Emile Hallez
Pathstone tops $100 billion with latest acquisition
NEWS RIAS JUL 17, 2023
Pathstone tops $100 billion with latest acquisition

The New Jersey-based mega RIA is adding $17 billion by buying Veritable from Affiliated Managers Group.

By Jeff Benjamin
How to save your clients' 'Benjamins'
NEWS RETIREMENT PLANNING JUL 17, 2023
How to save your clients' 'Benjamins'

With several major provisions of the Tax Cuts and Jobs Act due to sunset by the end of 2025, advisors should be talking to clients about their tax-deferred savings.

By Gregg Greenberg
Exec charged over JPMorgan fraud case
NEWS REGULATION AND LEGISLATION JUL 17, 2023
Exec charged over JPMorgan fraud case

$175 million sale snares another defendant with charges of securities fraud, wire fraud and conspiracy.

By Matthew Sellers
China disappoints but Wall Street banks should delight
NEWS INDUSTRY NEWS JUL 17, 2023
China disappoints but Wall Street banks should delight

Investors are awaiting US big banks' earnings which have benefitted from rising rates.

By Bloomberg
Investors want Musk to focus on Tesla as EV competition grows
NEWS INDUSTRY NEWS JUL 17, 2023
Investors want Musk to focus on Tesla as EV competition grows

The eccentric billionaire is seen a risk to Tesla's share price as he often appears focused elsewhere.

By Bloomberg
Advisors pulled out of equities, increased exposure to alts in 2022
NEWS ALTERNATIVES JUL 14, 2023
Advisors pulled out of equities, increased exposure to alts in 2022

Just because alts have been democratized doesn’t mean they're a fit for everyone, advisor warns.

By Ryan W. Neal
Biden unveils new student debt forgiveness plan  
NEWS REGULATION AND LEGISLATION JUL 14, 2023
Biden unveils new student debt forgiveness plan  

After being shot down by the Supreme Court, the administration has unveiled a revamped plan that could benefit more than 800,000 borrowers.

By Matthew Sellers
DFA request for ETF share classes marks tipping point for legacy fund companies
NEWS RIAS JUL 14, 2023
DFA request for ETF share classes marks tipping point for legacy fund companies

The $614 billion asset manager is applying a full-court press to take advantage of an expired Vanguard patent.

By Jeff Benjamin
How to keep junior advisors from washing out before they get started
NEWS PRACTICE MANAGEMENT JUL 14, 2023
How to keep junior advisors from washing out before they get started

Wealth management firm explains how it bucked the trend with a 90% retention rate.

By Gregg Greenberg
Rising assets, rates stabilize wealth management at Wells Fargo
NEWS WIREHOUSES JUL 14, 2023
Rising assets, rates stabilize wealth management at Wells Fargo

Along with net interest income, the bank’s total client assets also grew.

By Bruce Kelly
Wells Fargo shares jump after Q2 results exceed estimates
NEWS WIREHOUSES JUL 14, 2023
Wells Fargo shares jump after Q2 results exceed estimates

Bank's net interest income soars on back of Fed rate hikes.

By Bloomberg
JPMorgan posts record revenue on interest rates, First Republic deal
NEWS INDUSTRY NEWS JUL 14, 2023
JPMorgan posts record revenue on interest rates, First Republic deal

The firm's $41.3 billion in revenue beat analysts' expectations, fueled by $21.8 billion in net interest income as well as a $2.7 billion gain on its purchase of First Republic.

By Bloomberg
Retirement provider Ascensus taps Good as new president
NEWS RETIREMENT PLANNING JUL 14, 2023
Retirement provider Ascensus taps Good as new president

Nick Good takes over the role from Ascensus CEO and Chair David Musto, who will now devote more of his time to overall leadership of the organization.

By Gregg Greenberg
JPMorgan's Dimon takes a swipe at Bidenomics as 'political' interference
NEWS INDUSTRY NEWS JUL 14, 2023
JPMorgan's Dimon takes a swipe at Bidenomics as 'political' interference

The outspoken banking chief also says the government’s $5 trillion stimulus program is fueling inflation.

By Steve Randall