Industry News

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Goldman Sachs to back further away from consumers
NEWS INDUSTRY NEWS SEP 20, 2023
Goldman Sachs to back further away from consumers

Half-billion-dollar sale will see financial giant take a billion-dollar hit.

By Matthew Sellers
Edward Jones welcomes back $167M advisor who began his career with the firm
NEWS BROKER DEALERS SEP 20, 2023
Edward Jones welcomes back $167M advisor who began his career with the firm

The Seattle-based advisor will focus on retirement plans.

By Steve Randall
US retirement outlook has improved, but there's a problem
NEWS INDUSTRY NEWS SEP 20, 2023
US retirement outlook has improved, but there's a problem

Despite more Americans saving larger amounts for their retirement, goals may be upended.

By Steve Randall
One more Fed hike? Pimco sees an elevated chance
NEWS INDUSTRY NEWS SEP 20, 2023
One more Fed hike? Pimco sees an elevated chance

Fed to announce latest rate decision Wednesday.

By Bloomberg
New York firm accused of $7B unregistered trading for Russian
NEWS INDUSTRY NEWS SEP 20, 2023
New York firm accused of $7B unregistered trading for Russian

SEC lawsuit claims the firm invested in US securities market with no regulatory oversight.

By Bloomberg
BofA strategist boosts S&P 500 target to 4,600
NEWS INDUSTRY NEWS SEP 20, 2023
BofA strategist boosts S&P 500 target to 4,600

Year-end gain would be around 3.5% from Tuesday close.

By Bloomberg
How options traders are prepping for 'higher for longer' rates
NEWS INDUSTRY NEWS SEP 20, 2023
How options traders are prepping for 'higher for longer' rates

Traders are seeking protection from higher rates ahead of the Fed's latest decision.

By Bloomberg
Japan could intervene to protect yen if Fed hikes
NEWS INDUSTRY NEWS SEP 20, 2023
Japan could intervene to protect yen if Fed hikes

But Janet Yellen says it should not aim to impact exchange rate.

By Bloomberg
Carlyle takes stake in Captrust
NEWS RIAS SEP 19, 2023
Carlyle takes stake in Captrust

After GTCR's 2020 deal for a portion of the RIA, additional private equity money will help the firm continue its buying streak.

By Emile Hallez
Debt-financed M&A may push firms to shed assets: Tibergien
NEWS BROKER DEALERS SEP 19, 2023
Debt-financed M&A may push firms to shed assets: Tibergien

Following Cetera's announcement that it was going to buy Avantax, two ratings agencies put the debt of Cetera's parent, Aretec Group Inc., on review.

By Bruce Kelly
Wells Fargo advisor managing $175M jumps to LPL
NEWS BROKER DEALERS SEP 19, 2023
Wells Fargo advisor managing $175M jumps to LPL

Aaron Cizon is launching Cizon Group Wealth Management in Greenville, South Carolina.

By InvestmentNews
Carson Group's Jamie Hopkins joining Bryn Mawr Trust
NEWS RIAS SEP 19, 2023
Carson Group's Jamie Hopkins joining Bryn Mawr Trust

‘My personal mission is to enhance the financial security of Americans,’ says Hopkins, who will serve as the firm's director of private wealth management.

By InvestmentNews
'Financial vortex' threatens undersaved workers, Goldman says
NEWS RETIREMENT PLANNING SEP 19, 2023
'Financial vortex' threatens undersaved workers, Goldman says

Report shows financial challenges could reduce US workers' retirement savings by up to 37% over the coming years.

By Gregg Greenberg
Direct indexing name needs a makeover, report finds
NEWS EQUITIES SEP 19, 2023
Direct indexing name needs a makeover, report finds

Hearts & Wallets study highlights confusion around the term and the customization strategy.

By Josh Welsh
Mesirow adds $1.2B firm to wealth management offering
NEWS RIAS SEP 19, 2023
Mesirow adds $1.2B firm to wealth management offering

New addition is an employee-owned firm based in Chicago.

By Steve Randall
JPMorgan shares why advisors should serve needs of diverse investors
NEWS RETIREMENT PLANNING SEP 19, 2023
JPMorgan shares why advisors should serve needs of diverse investors

Black and Hispanic women are gaining confidence in their investing knowledge.

By Steve Randall
Why rising oil prices are not what the Fed needs right now
NEWS INDUSTRY NEWS SEP 19, 2023
Why rising oil prices are not what the Fed needs right now

Despite expectation for a hold-steady by the Fed this week, higher energy costs could derail soft-landing

By Bloomberg
Global economy to slow says OECD
NEWS INDUSTRY NEWS SEP 19, 2023
Global economy to slow says OECD

The impact of higher interest rates is impacting growth.

By Bloomberg
UBS to set out US growth plan, but not until early 2024
NEWS WIREHOUSES SEP 19, 2023
UBS to set out US growth plan, but not until early 2024

Diversified revenue streams and Credit Suisse integration are key components.

By Bloomberg
High-yield debt issuance to accelerate, says BlackRock
NEWS FIXED INCOME SEP 19, 2023
High-yield debt issuance to accelerate, says BlackRock

Global issuance for leveraged loans and high-yield bonds jumped to over $40 billion this month.

By Bloomberg