Industry News

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BofA joins peers in downgrading China growth
NEWS INDUSTRY NEWS SEP 04, 2024
BofA joins peers in downgrading China growth

Wall Street titans are calling for growth below 5%.

Advisors weigh in on Vice President's wealth tax proposal
NEWS TAX SEP 03, 2024
Advisors weigh in on Vice President's wealth tax proposal

Vice President Kamala Harris's proposed tax on billionaires creates a lot of questions for financial advisors, especially when it comes to taxing unrealized capital gains.

By Gregg Greenberg
Raymond James agrees to $1.8M in Finra fines over supervision failures
NEWS BROKER DEALERS SEP 03, 2024
Raymond James agrees to $1.8M in Finra fines over supervision failures

Some customer complaints went unreported, and many mutual fund purchases were not reviewed, according to the self-regulatory organization.

By Emile Hallez
Recruiting is all in the family for Jodie Papike
NEWS BROKER DEALERS SEP 03, 2024
Recruiting is all in the family for Jodie Papike

"I have small firm roots, just look at my dad," Jodie Papike said.

By Bruce Kelly
Which Wall Street leader is the only one to be among America's big bonus CEOs?
NEWS INDUSTRY NEWS SEP 03, 2024
Which Wall Street leader is the only one to be among America's big bonus CEOs?

New analysis reveals which companies pay the biggest bonuses to their leaders.

By Steve Randall
LPL bats for advisors with new political action chief
NEWS BROKER DEALERS SEP 03, 2024
LPL bats for advisors with new political action chief

The broker-dealer giant's new chief advocacy officer boasts more than 25 years of experience in government relations lobbying for financial services companies.

By Leo Almazora
Global markets await US economic data
NEWS INDUSTRY NEWS SEP 03, 2024
Global markets await US economic data

Several key indicators are due over the next few days.

Thousands of church workers closer to recouping $90M in misappropriated retirement funds
NEWS INDUSTRY NEWS SEP 03, 2024
Thousands of church workers closer to recouping $90M in misappropriated retirement funds

The workers and retirees lost out as retirement plan duties were not honored.

By Steve Randall
Advisor satisfaction high even as market fears grow, survey says
NEWS INDUSTRY NEWS SEP 03, 2024
Advisor satisfaction high even as market fears grow, survey says

A new investor survey from Janus Henderson shows the upcoming election is unnerving clients.

By Gregg Greenberg
Cetera extends reach in Ohio with 42-year veteran advisor
NEWS INDUSTRY NEWS AUG 30, 2024
Cetera extends reach in Ohio with 42-year veteran advisor

The independent broker-dealer’s latest addition reportedly managed $108M in AUA at Lincoln Financial Advisors.

By Leo Almazora
Fed's favored inflation metric sets the table for September
NEWS INDUSTRY NEWS AUG 30, 2024
Fed's favored inflation metric sets the table for September

Latest federal data on prices and consumer spending add further support to the case for rate cuts.

Government 'mystery shopper' finds IRA fiduciary oversight is lacking
NEWS REGULATION AND LEGISLATION AUG 30, 2024
Government 'mystery shopper' finds IRA fiduciary oversight is lacking

Recommendations include new process to identify prohibited transactions.

By Steve Randall
Bullishness remains elevated despite volatility as investors see sunnier times
NEWS INDUSTRY NEWS AUG 30, 2024
Bullishness remains elevated despite volatility as investors see sunnier times

Two polls of investor sentiment reveals mostly optimism.

By Steve Randall
Treasuries poised for longest winning streak in three years
NEWS INDUSTRY NEWS AUG 30, 2024
Treasuries poised for longest winning streak in three years

Traders are focusing on Fed rate cuts rather than data releases.

By Bloomberg
Goldman says dollar-to-yuan 'avalanche' is overstated
NEWS INDUSTRY NEWS AUG 30, 2024
Goldman says dollar-to-yuan 'avalanche' is overstated

Firm says Chinese companies are not yet ready to abandon the greenback.

By Bloomberg
Musk, Tesla win dismissal of Dogecoin 'pyramid scheme' suit
NEWS INDUSTRY NEWS AUG 30, 2024
Musk, Tesla win dismissal of Dogecoin 'pyramid scheme' suit

Court said 'no reasonable investor' could rely on Musk's crypto views.

By Bloomberg
Are governments about to dump crypto holdings?
NEWS INDUSTRY NEWS AUG 30, 2024
Are governments about to dump crypto holdings?

Market concerned about impact on supply overhang.

By Bloomberg
Elizabeth Warren presses for details on Finra's enforcement slowdown
NEWS INDUSTRY NEWS AUG 29, 2024
Elizabeth Warren presses for details on Finra's enforcement slowdown

Decline in actions appears to indicate "a deliberate deregulatory effort," the Democratic senator said in a letter.

By Bloomberg
Posing as a broker, Maryland insurance agent grabs clients' savings
NEWS LIFE INSURANCE AND ANNUITIES AUG 29, 2024
Posing as a broker, Maryland insurance agent grabs clients' savings

"Customers should use regulated industries to their advantage and hire career specialists in each area of their lives," said one industry executive.

By Bruce Kelly
Gen Z leans on AI and family for financial guidance
NEWS INDUSTRY NEWS AUG 29, 2024
Gen Z leans on AI and family for financial guidance

Survey research unpacks AI’s role in helping Gen Z manage their finances, plus how they prioritize spending and saving.

By Leo Almazora