Industry News

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Why have foreign investors escalated Japanese stock trades?
NEWS INDUSTRY NEWS AUG 16, 2024
Why have foreign investors escalated Japanese stock trades?

BoJ recently went against the grain on interest rates.

By Bloomberg
Creative Planning hangs "Help Wanted" sign for advisors
NEWS RIAS AUG 15, 2024
Creative Planning hangs "Help Wanted" sign for advisors

"I think we’re gearing up to really grow very aggressively in the coming 15 months," says CEO Peter Mallouk.

By Bruce Kelly
More advisors adding utilities to juice up client portfolios
NEWS INDUSTRY NEWS AUG 15, 2024
More advisors adding utilities to juice up client portfolios

Wealth managers are increasingly turning to normally overlooked utility stocks for both yield and growth.

By Gregg Greenberg
New Yorkers' debt woes grow amid slide in real income
NEWS INDUSTRY NEWS AUG 15, 2024
New Yorkers' debt woes grow amid slide in real income

Inflation is biting harder in the Big Apple, leading to more debt dependence, according to new Federal Reserve research.

By Bloomberg
SEC fines 26 firms a combined $390M for recordkeeping failures
NEWS INDUSTRY NEWS AUG 15, 2024
SEC fines 26 firms a combined $390M for recordkeeping failures

Firms that self-reported their violations will pay less than they would have done.

By Steve Randall
NewEdge Capital headed for another record year of growth for assets, advisors
NEWS INDUSTRY NEWS AUG 15, 2024
NewEdge Capital headed for another record year of growth for assets, advisors

Strong recruitment in the first half of 2024 has built on record 2023.

By Steve Randall
US futures up slightly following CPI print
NEWS INDUSTRY NEWS AUG 15, 2024
US futures up slightly following CPI print

Expectations for a soft landing, Fed cuts buoyed by data.

By Bloomberg
Americans should save $7.5B from drug price cuts, government says
NEWS INDUSTRY NEWS AUG 15, 2024
Americans should save $7.5B from drug price cuts, government says

Senior citizens set to save $1.5B in out-of-pocket expenses in year one.

By Bloomberg
World’s second largest economy continues to disappoint
NEWS INDUSTRY NEWS AUG 15, 2024
World’s second largest economy continues to disappoint

China’s weakness has extended into the third quarter.

By Bloomberg
Swedish fintech eyes Goldman Sachs for US IPO
NEWS INDUSTRY NEWS AUG 15, 2024
Swedish fintech eyes Goldman Sachs for US IPO

Klarna Bank plans to go public in the US in 2025.

By Bloomberg
NFP snaps up LA-based HNW financial concierge
NEWS INDUSTRY NEWS AUG 14, 2024
NFP snaps up LA-based HNW financial concierge

The global financial services firm and Aon subsidiary is elevating its service to affluent entertainers and athletes with its latest acquisition

By Leo Almazora
After UBS earnings, is cash sweep drama over?
NEWS BROKER DEALERS AUG 14, 2024
After UBS earnings, is cash sweep drama over?

Broker-dealers are particularly interest rate sensitive companies.

By Bruce Kelly
Harris or Trump? Which candidate is Wall Street pulling for?
NEWS INDUSTRY NEWS AUG 14, 2024
Harris or Trump? Which candidate is Wall Street pulling for?

Neuberger Berman Private Wealth CIO Shannon Saccocia weighs in on what investors should be doing ahead of election day.

By Gregg Greenberg
Fight against investor fee confusion far from over, says Dalbar
NEWS INDUSTRY NEWS AUG 14, 2024
Fight against investor fee confusion far from over, says Dalbar

While 74 percent said fees are critical for investment decisions, nearly half are unsure or unaware what they’re paying.

By Leo Almazora
Households’ Covid-era liquid wealth has ebbed, leaving historic debt
NEWS INDUSTRY NEWS AUG 14, 2024
Households’ Covid-era liquid wealth has ebbed, leaving historic debt

Federal Reserve analysis unpacks trends in pandemic wealth, money market fund holdings, and debt across income groups.

By Leo Almazora
Franklin Templeton’s SMA models find shelf space on Orion
NEWS INDUSTRY NEWS AUG 14, 2024
Franklin Templeton’s SMA models find shelf space on Orion

The storied asset manager looks to grow its $137B SMA business further with advisors on the TAMP provider’s platforms.

By Leo Almazora
Finra fines Morgan Stanley $400k over trade disclosure flubs
NEWS INDUSTRY NEWS AUG 14, 2024
Finra fines Morgan Stanley $400k over trade disclosure flubs

The brokerage giant reportedly failed to accurately disclose critical information on more than 500,000 trades involving munis and debt securities.

By Leo Almazora
Fed rate cut hopes stay alive as July core inflation eases
NEWS INDUSTRY NEWS AUG 14, 2024
Fed rate cut hopes stay alive as July core inflation eases

A fourth straight month of easing in annual inflation adds support for a September easing in monetary policy.

By Bloomberg
CFP exam saw another large cohort of participants in July, but how did they do?
NEWS INDUSTRY NEWS AUG 14, 2024
CFP exam saw another large cohort of participants in July, but how did they do?

CFP Board says exam remains 'the standard' for competent, ethical financial planning.

By Steve Randall
Schwab Asset Management launches its first actively managed fixed income ETF 
NEWS INDUSTRY NEWS AUG 14, 2024
Schwab Asset Management launches its first actively managed fixed income ETF 

Meanwhile, Schwab has awarded scholarships to next generation of RIA superstars.

By Steve Randall