Industry News

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RFG Advisory aims to be a leading name for independent advisors
NEWS INDUSTRY NEWS MAR 11, 2024
RFG Advisory aims to be a leading name for independent advisors

Hybrid firm adds trio to executive leadership team.

By Steve Randall
US futures retreat ahead of data-heavy week
NEWS INDUSTRY NEWS MAR 11, 2024
US futures retreat ahead of data-heavy week

Investors are awaiting US CPI stats Tuesday among other releases.

By Bloomberg
Bond investors want more EU debt amid Russia tensions
NEWS FIXED INCOME MAR 11, 2024
Bond investors want more EU debt amid Russia tensions

Higher defense spending is on the agenda to boost AAA-rated bonds.

By Bloomberg
K-12 financial education has grown stronger
NEWS INDUSTRY NEWS MAR 10, 2024
K-12 financial education has grown stronger

Biennial research reveals ‘banner two years’ as wave of legislation drives personal finance and economics courses in high schools.

By Leo Almazora
Fidelity to cut about 700 jobs
NEWS INDUSTRY NEWS MAR 08, 2024
Fidelity to cut about 700 jobs

The move affects less than 1% of the workforce, according to a Fidelity spokesperson.

By Bloomberg
How much do wirehouse advisors hate selling for the bank?
NEWS BROKER DEALERS MAR 08, 2024
How much do wirehouse advisors hate selling for the bank?

Financial advisors simply can't stand conflicts that mix banking and financial advice.

By Bruce Kelly
BlackRock buying SpiderRock to expand customized investing strategies
NEWS INDUSTRY NEWS MAR 08, 2024
BlackRock buying SpiderRock to expand customized investing strategies

The deal will increase BlackRock's ability to offer tax-efficient investment services, especially those relying on options trading, the company said.

By Bloomberg
UBS shares surge on Morgan Stanley upgrade
NEWS WIREHOUSES MAR 08, 2024
UBS shares surge on Morgan Stanley upgrade

The wirehouse's stock hit its highest level since 2008 after an analyst upgraded it to overweight, predicting a revival in deal-making.

By Bloomberg
US homeowners have increased equity by $1.3T: CoreLogic
NEWS INDUSTRY NEWS MAR 08, 2024
US homeowners have increased equity by $1.3T: CoreLogic

Fewer homeowners are in negative equity as prices rise nationwide.

By Steve Randall
Easterly hires former BlackRock iShares exec to expand reach
NEWS INDUSTRY NEWS MAR 08, 2024
Easterly hires former BlackRock iShares exec to expand reach

The firm also has a new head of business development amid growth strategy.

By Steve Randall
US jobs report likely to mask cooling
NEWS INDUSTRY NEWS MAR 08, 2024
US jobs report likely to mask cooling

Bureau of Labor Statistics data expected to show concentration in limited sectors.

By Bloomberg
JPMorgan says one market is 'irreplaceable' for asset managers
NEWS INDUSTRY NEWS MAR 08, 2024
JPMorgan says one market is 'irreplaceable' for asset managers

The Wall Street stalwart sees 'great certainty for growth'

By Bloomberg
REITs might be right for advisors searching for yield, earnings growth
NEWS INDUSTRY NEWS MAR 07, 2024
REITs might be right for advisors searching for yield, earnings growth

Office may have issues, but other property sectors have pricing power and can raise rents greater than inflation.

By Gregg Greenberg
FSI sues DOL over independent contractor rule
NEWS REGULATION AND LEGISLATION MAR 07, 2024
FSI sues DOL over independent contractor rule

The advocacy group for independent financial advisors argues the final 2024 rule is ‘arbitrary and capricious.’

By Leo Almazora
Commonwealth girding for loss of up to $24M in fight with SEC
NEWS RIAS MAR 07, 2024
Commonwealth girding for loss of up to $24M in fight with SEC

It's highly unusual in the securities industry for a broker-dealer to put up such resistance to a regulator like the SEC.

By Bruce Kelly
Busting three myths in the $19T private market: Hamilton Lane
NEWS ALTERNATIVES MAR 07, 2024
Busting three myths in the $19T private market: Hamilton Lane

New report provides data-backed analysis of private market investments.

By Steve Randall
Merrill Private Wealth Management chief to lead Citi Private Bank North America
NEWS BROKER DEALERS MAR 07, 2024
Merrill Private Wealth Management chief to lead Citi Private Bank North America

Citibank incumbent is retiring after 22 years with the firm.

By Steve Randall
Higher taxes for the rich, corporations
NEWS INDUSTRY NEWS MAR 07, 2024
Higher taxes for the rich, corporations

White House to propose higher taxes, including quadrupling share buyback tax.

By Bloomberg
UBS scraps Credit Suisse coal financing rollback
NEWS ESG MAR 07, 2024
UBS scraps Credit Suisse coal financing rollback

Global asset manager will instead detail its own plan for climate change.

By Bloomberg
Tax hike alone won't save Social Security, think tank warns
NEWS RETIREMENT PLANNING MAR 06, 2024
Tax hike alone won't save Social Security, think tank warns

Proposed bill to raise taxes on high earners isn’t enough to fix program's brewing solvency challenge, according to new report.

By Leo Almazora