Industry News

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Advisors weigh in on Nvidia's earnings, outlook
NEWS INDUSTRY NEWS AUG 29, 2024
Advisors weigh in on Nvidia's earnings, outlook

The AI chipmaker's widely anticipated second quarter earnings are out. Now advisors need to decide what to do with them.

By Gregg Greenberg
Bank of America, Merrill Lynch fined $3M over “deficient” supervision systems
NEWS INDUSTRY NEWS AUG 29, 2024
Bank of America, Merrill Lynch fined $3M over “deficient” supervision systems

BofA and its subsidiary failed to review roughly 700 equity trades and 125,000 options trades that were “potentially manipulative,” according to Finra.

By Leo Almazora
Nvidia finds that even when the chips aren't down, things can be bad
NEWS INDUSTRY NEWS AUG 29, 2024
Nvidia finds that even when the chips aren't down, things can be bad

Earnings report that failed to meet high expectations could dampen the AI frenzy.

By Steve Randall
ICI has 'serious concerns' about SEC reporting requirements
NEWS INDUSTRY NEWS AUG 29, 2024
ICI has 'serious concerns' about SEC reporting requirements

Will changing from quarterly to monthly reporting have negative impacts?

By Steve Randall
Which is worse, accumulating more debt or not saving enough?
NEWS INDUSTRY NEWS AUG 29, 2024
Which is worse, accumulating more debt or not saving enough?

Survey reveals Americans’ top financial regrets.

By Steve Randall
Atlanta Fed chief says more data needed before rate cut
NEWS INDUSTRY NEWS AUG 29, 2024
Atlanta Fed chief says more data needed before rate cut

Raphael Bostic says the stats need to support easing policy.

By Bloomberg
Swiss asset manager boosts US presence with Miami office
NEWS INDUSTRY NEWS AUG 29, 2024
Swiss asset manager boosts US presence with Miami office

Demand from US offshore clients has prompted the move.

By Bloomberg
Cat bond favoring hedge fund says returns already weakened
NEWS INDUSTRY NEWS AUG 29, 2024
Cat bond favoring hedge fund says returns already weakened

Investors are awaiting the extent of the 2024 hurricane season.

By Bloomberg
Millennial high earners are hightailing it out of California and New York
NEWS INDUSTRY NEWS AUG 28, 2024
Millennial high earners are hightailing it out of California and New York

An analysis of tax return data shows which states are the top destinations for high-income Gen Y households.

By Leo Almazora
Private equity funds gaining traction with advisors
NEWS ALTERNATIVES AUG 28, 2024
Private equity funds gaining traction with advisors

"The appetite by financial advisors for private equity funds is super high right now," says one industry executive.

By Bruce Kelly
SEC scraps swing pricing plan for mutual funds
NEWS INDUSTRY NEWS AUG 28, 2024
SEC scraps swing pricing plan for mutual funds

The regulator's retreat from a plan to help control liquidity issues during high-redemption periods is an apparent win for the industry.

By Bloomberg
RayJay breakaway RIA Crux joins Arete Wealth network
NEWS RIAS AUG 28, 2024
RayJay breakaway RIA Crux joins Arete Wealth network

Crux’s collaboration with the full-service broker-dealer and RIA comes as part of a broader multi-year tech platform agreement.

By Leo Almazora
Equities rally sparked boost in self-directed 401(k) investors' accounts
NEWS INDUSTRY NEWS AUG 28, 2024
Equities rally sparked boost in self-directed 401(k) investors' accounts

Average balances rise for Schwab Personal Choice Retirement Account.

By Steve Randall
More than half of Gen Z, Millennial workers plan to ask for a raise
NEWS INDUSTRY NEWS AUG 28, 2024
More than half of Gen Z, Millennial workers plan to ask for a raise

Millions also expected to seek more secure job in the next 12 months.

By Steve Randall
Investors await earnings from $3T Nvidia, stocks edge higher
NEWS INDUSTRY NEWS AUG 28, 2024
Investors await earnings from $3T Nvidia, stocks edge higher

The chipmaker will release its quarterly stats after the market closes.

By Bloomberg
Goldman Sachs snaps up Citigroup veteran for natural resources team
NEWS INDUSTRY NEWS AUG 28, 2024
Goldman Sachs snaps up Citigroup veteran for natural resources team

By Bloomberg
Warren Buffett sells another $982M in BofA shares
NEWS INDUSTRY NEWS AUG 28, 2024
Warren Buffett sells another $982M in BofA shares

Billionaire investor has cut his holding by almost 13% this summer.

By Bloomberg
How Kamala Harris's wealth tax plan could hit affluent Americans
NEWS INDUSTRY NEWS AUG 27, 2024
How Kamala Harris's wealth tax plan could hit affluent Americans

The proposal would raise the top income tax rate and introduce a new tax on unrealized capital gains.

By Leo Almazora
Rep-owned B-D pays $1 million to ripped off clients
NEWS BROKER DEALERS AUG 27, 2024
Rep-owned B-D pays $1 million to ripped off clients

United Planners' Financial Services of America failed to supervise its salesman, according to Arizona.

By Bruce Kelly
JPMorgan gets swept up in cash sweep drama
NEWS WIREHOUSES AUG 27, 2024
JPMorgan gets swept up in cash sweep drama

A class-action suit filed against the Wall Street bank is just the latest in a raft of cases alleging too-low interest rates offered to clients.

By Leo Almazora