Industry News

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Battle of the billionaires: Musk vs. Altman trial set for the fall
NEWS INDUSTRY NEWS MAR 05, 2025
Battle of the billionaires: Musk vs. Altman trial set for the fall

Musk fails to pause OpenAI's transition to public firm.

By Bloomberg
TD Bank slashes U.S. executive pay amid money laundering fallout
NEWS INDUSTRY NEWS MAR 04, 2025
TD Bank slashes U.S. executive pay amid money laundering fallout

News breaks as US consumer banking chief anounces departure to competitor

By Matthew Sellers
Managed accounts have hit a wall in DC plans, finds survey
NEWS RETIREMENT PLANNING MAR 04, 2025
Managed accounts have hit a wall in DC plans, finds survey

Research points to growing need for tailored solutions in pension plans, as well as the shift towards passive in target-date funds.

By Leo Almazora
Goldman Sachs prepares for job cuts, targets VPs in latest round of layoffs
NEWS INDUSTRY NEWS MAR 04, 2025
Goldman Sachs prepares for job cuts, targets VPs in latest round of layoffs

NY investment bank has a targeted firing list - report

By Matthew Sellers
Broker-dealer and bank stocks fall after first day of tariffs
NEWS BROKER DEALERS MAR 04, 2025
Broker-dealer and bank stocks fall after first day of tariffs

Ameriprise, LPL and Morgan Stanley were among those impacted as firms suffer more than the broader market.

By Emile Hallez
BlackRock-led consortium forges deal for key Panama Canal ports
NEWS ALTERNATIVES MAR 04, 2025
BlackRock-led consortium forges deal for key Panama Canal ports

The $23 billion deal, which also includes its global infrastructure investing arm, highlights the behemoth asset manager's broad ambitions in private market investing.

By Leo Almazora
Commonwealth, SEC battle over $93 million in penalties hits home stretch
NEWS RIAS MAR 04, 2025
Commonwealth, SEC battle over $93 million in penalties hits home stretch

In 2019, the SEC claimed Commonwealth had breached its fiduciary duty.

By Bruce Kelly
Investing pros wonder when Trump will step in as stock freefall continues
NEWS EQUITIES MAR 04, 2025
Investing pros wonder when Trump will step in as stock freefall continues

As the stock market loses its post-election gains following the president's decisive tariffs, speculation swirls over when the hoped-for "Trump put" will kick in.

By Bloomberg
Beyond the all-in-one: Why specialization is key in wealth tech
NEWS FINTECH MAR 04, 2025
Beyond the all-in-one: Why specialization is key in wealth tech

In an industry of broad solutions, firms like intelliflo prove 'you just need tools that play well together'

By Manal Ali
FP Alpha and wealth.com reveal souped-up planning capabilities
NEWS FINTECH MAR 04, 2025
FP Alpha and wealth.com reveal souped-up planning capabilities

With a new AI-powered analysis tool and a scenario modeling module, the two wealth tech providers are boosting advisors' tax and estate planning.

By Leo Almazora
EP Wealth, Apollon unveil latest acquisitions
NEWS INDUSTRY NEWS MAR 04, 2025
EP Wealth, Apollon unveil latest acquisitions

$30 billion RIA EP Wealth is deepening its Denver presence while Apollon debuts in New York with a storied 160-year-old firm.

By Leo Almazora
Wall Street's leveraged-stock boom accelerates with MUSK fund
NEWS ETFS MAR 04, 2025
Wall Street's leveraged-stock boom accelerates with MUSK fund

A New York-based ETF issuer joins the field with filings for 10 derivatives-powered products that hold crypto-exposed stocks, including one with Tesla and Nvidia.

By Bloomberg
$70B Mercer Advisors taps Ted Motheral to co-lead M&A strategy
NEWS RIAS MAR 04, 2025
$70B Mercer Advisors taps Ted Motheral to co-lead M&A strategy

The acquisitive mega-RIA expects his legal expertise and deep deal advisory experience will strengthen its efforts to recruit partner advisor-owners.

By Leo Almazora
S&P 500 suffers worst sell-off of the year so far, Trump ignites investor fears
NEWS EQUITIES MAR 04, 2025
S&P 500 suffers worst sell-off of the year so far, Trump ignites investor fears

Tariffs go live, while US aid for Ukraine is paused. What's next?

By Steve Randall
Fidelity highlights four trends in women's financial wellness for 2025
NEWS INDUSTRY NEWS MAR 04, 2025
Fidelity highlights four trends in women's financial wellness for 2025

Whether at work or in retirement, the landscape for women is changing.

By Steve Randall
B. Riley posts latest steer on financials as it tries to rebound
NEWS INDUSTRY NEWS MAR 04, 2025
B. Riley posts latest steer on financials as it tries to rebound

The firm has reported its fourth quarter earnings.

By Bloomberg
Older Americans most likely to face financial scam, but least likely to lose money
NEWS INDUSTRY NEWS MAR 04, 2025
Older Americans most likely to face financial scam, but least likely to lose money

Younger generations may be putting their cash at risk, survey reveals.

By Steve Randall
Is clean energy investing dead, at least for now?
NEWS ESG MAR 04, 2025
Is clean energy investing dead, at least for now?

Hedge fund manager sees no current gains from transition focused fund.

By Bloomberg
Citi's wealth unit reports $6B near miss in same month as $81T error
NEWS WIREHOUSES MAR 04, 2025
Citi's wealth unit reports $6B near miss in same month as $81T error

Firm says tougher checks and balances have been implemented.

By Bloomberg
Social Security Administration cuts are a move toward privatization, Wyden says
NEWS RETIREMENT PLANNING MAR 03, 2025
Social Security Administration cuts are a move toward privatization, Wyden says

With big staff cuts coming to an agency already struggling to provide customer service, Social Security claimants should begin preparing, advisors said.

By Emile Hallez