Industry News

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Gold keeps glittering. But are financial advisors buying?
NEWS INDUSTRY NEWS AUG 19, 2024
Gold keeps glittering. But are financial advisors buying?

Gold continues to flirt with new highs, but not all advisors have been lured in by the shiny metal.

By Gregg Greenberg
Finra bars broker who forged clients’ annuity switches
NEWS BROKER DEALERS AUG 19, 2024
Finra bars broker who forged clients’ annuity switches

"We're seeing more instances of clients being switched out of annuities," says one plaintiff's attorney.

By Bruce Kelly
Goldman sees gains ahead as "pain trade" shoots higher for equities
NEWS INDUSTRY NEWS AUG 19, 2024
Goldman sees gains ahead as "pain trade" shoots higher for equities

Strategist who correctly called late-summer correction in US stocks is making a tactically bullish turn.

By Bloomberg
Woman charged over alleged Elvis Presley loan fraud scheme  
NEWS INDUSTRY NEWS AUG 19, 2024
Woman charged over alleged Elvis Presley loan fraud scheme  

Legendary Graceland home faced foreclosure amid loan repayment demand.

By Steve Randall
Stocks pause ahead of Jackson Hole symposium
NEWS INDUSTRY NEWS AUG 19, 2024
Stocks pause ahead of Jackson Hole symposium

This week's meeting should give further signals on rates.

By Bloomberg
Corporate America overestimating sales, warns Goldman Sachs
NEWS INDUSTRY NEWS AUG 19, 2024
Corporate America overestimating sales, warns Goldman Sachs

Strategists say firms are downplaying softer US economy, dollar.

By Bloomberg
Asia currencies at seven-month high amid US 'Goldilocks' scenario
NEWS INDUSTRY NEWS AUG 19, 2024
Asia currencies at seven-month high amid US 'Goldilocks' scenario

Further gains for currencies could be ahead.

By Bloomberg
Bitcoin fails to capitalize on rising global risk sentiment
NEWS INDUSTRY NEWS AUG 19, 2024
Bitcoin fails to capitalize on rising global risk sentiment

Cryptocurrency continuing lower despite improved optimism.

By Bloomberg
Harris pitches new tax credits, subsidies in sweeping "opportunity economy" pledge
NEWS INDUSTRY NEWS AUG 16, 2024
Harris pitches new tax credits, subsidies in sweeping "opportunity economy" pledge

The Democratic presidential nominee is courting votes with expanded aid for first-time homebuyers, parental tax perks, and drug price caps.

By Bloomberg
Bryant Riley offers $7 per share to take embattled firm private
NEWS BROKER DEALERS AUG 16, 2024
Bryant Riley offers $7 per share to take embattled firm private

"If they do something quickly to stabilize the firm they should be fine," one industry executive said about B. Riley Financial.

By Bruce Kelly
Wall Street widens liquidity channels for wealthy art lovers
NEWS INDUSTRY NEWS AUG 16, 2024
Wall Street widens liquidity channels for wealthy art lovers

Cooling sales in the rarefied world of art collectibles is creating an opportunity for JPMorgan, Bank of America, and other big names in banking.

By Bloomberg
Are small business owners suffering from cash flow complacency?
NEWS INDUSTRY NEWS AUG 16, 2024
Are small business owners suffering from cash flow complacency?

A failure to get their financial houses in order could be costing independent business owners dearly, finds a new report.

By Leo Almazora
Stock rally falters as traders weigh "conflicting" economic signals
NEWS INDUSTRY NEWS AUG 16, 2024
Stock rally falters as traders weigh "conflicting" economic signals

Continued Fed speculation on Wall Street has halted a six-day advance in the S&P 500.

By Bloomberg
Raymond James succession plan rolls on with RJA division shakeup
NEWS BROKER DEALERS AUG 16, 2024
Raymond James succession plan rolls on with RJA division shakeup

The broker-dealer giant is shuffling the leadership within Raymond James & Associates as part of its broader seismic reorganization.

By Leo Almazora
Where has all the cash gone?
NEWS INDUSTRY NEWS AUG 16, 2024
Where has all the cash gone?

New Advyzon reports finds cash allocation dipped from 9.5% in 2021 to 4.6% by the end of 2023.

By Josh Welsh
Strong US economy pushes equities towards best week of 2024
NEWS INDUSTRY NEWS AUG 16, 2024
Strong US economy pushes equities towards best week of 2024

Recession fears are easing amid positive data releases.

By Bloomberg
NEWS INDUSTRY NEWS AUG 16, 2024
Retail brokerage, wealth management firms to face continued pressure on margins

Fitch says that strong performance remains offset by higher costs.

By Steve Randall
Fincentric merges with former InvestCloud CEO’s firm, plans expansion
NEWS INDUSTRY NEWS AUG 16, 2024
Fincentric merges with former InvestCloud CEO’s firm, plans expansion

Private equity firm Stellex Capital and Communify acquire firm from S&P Global.

By Steve Randall
Equity funds rebound as investors shrug off August selloff
NEWS INDUSTRY NEWS AUG 16, 2024
Equity funds rebound as investors shrug off August selloff

BofA note says funds are seeing inflows across asset classes.

By Bloomberg
Dealers are holding highest level of Treasuries than ever before
NEWS INDUSTRY NEWS AUG 16, 2024
Dealers are holding highest level of Treasuries than ever before

Record holdings by primary dealers last week, says New York Fed.

By Bloomberg