Industry News

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Advisors tilt toward ETFs, growth stocks and investment-grade bonds: Fidelity
NEWS RIAS JUL 31, 2023
Advisors tilt toward ETFs, growth stocks and investment-grade bonds: Fidelity

Advisors hail traditional benefits of ETFs while trend toward aggressive equity exposure shows how 'soft landing has replaced recession.'

By Jeff Benjamin
More turnover at top of Wells Fargo brokerage group
NEWS PRACTICE MANAGEMENT JUL 31, 2023
More turnover at top of Wells Fargo brokerage group

'New leadership has been making big strides,' says industry source.

By Bruce Kelly
Chasing retirement plan prospects with a minority business owner connection
NEWS RIAS JUL 31, 2023
Chasing retirement plan prospects with a minority business owner connection

Martin Smith blends his advisory niche with an old-school method of rolling up his sleeves and making lots of cold calls.

By Jeff Benjamin
Interest rate hikes, jobs forecast, commercial property death spiral, equity-risk premium worries
NEWS INDUSTRY NEWS JUL 31, 2023
Interest rate hikes, jobs forecast, commercial property death spiral, equity-risk premium worries

What you need to know for the week ahead.

By Matthew Sellers
Fraudsters prey on US veterans' lack of PACT Act benefit claims knowledge
NEWS INDUSTRY NEWS JUL 31, 2023
Fraudsters prey on US veterans' lack of PACT Act benefit claims knowledge

Veterans and their families are being targeted by criminals, according to an AARP report.

By Steve Randall
Kingswood US hires experienced industry duo to enhance in-house capabilities
NEWS RIAS JUL 31, 2023
Kingswood US hires experienced industry duo to enhance in-house capabilities

The expanded investment banking and capital markets team will focus on three key verticals.

By Steve Randall
Patchy signals on rates leave markets uncertain
NEWS INDUSTRY NEWS JUL 31, 2023
Patchy signals on rates leave markets uncertain

Mixed data is adding to the confusion for investors as the month ends.

By Bloomberg
Morgan Stanley sells student loan benefits provider to Vestwell
NEWS RETIREMENT PLANNING JUL 28, 2023
Morgan Stanley sells student loan benefits provider to Vestwell

Gradifi, which sold to ETrade in 2019 for $30 million, will expand Vestwell beyond retirement savings.

By Ryan W. Neal
Can Jaylen Brown bring a Black Wall Street to Boston?
NEWS PRACTICE MANAGEMENT JUL 28, 2023
Can Jaylen Brown bring a Black Wall Street to Boston?

Celtics star has been awarded the largest contract in NBA history but financial planner, while commending Brown's efforts, says wealth inequality is a complex issue.

By Ryan W. Neal
LPL focus on smaller acquisitions bears fruit
NEWS BROKER DEALERS JUL 28, 2023
LPL focus on smaller acquisitions bears fruit

'We’re in many more conversations than deals,' one LPL executive noted.

By Bruce Kelly
Inflation data fuel markets but economists remain cautious
NEWS RIAS JUL 28, 2023
Inflation data fuel markets but economists remain cautious

PCE inflation data is at its lowest level in two years, but is that enough to stop the Fed from raising interest rates?

By Jeff Benjamin
401(k)s a better recruiting tool than cash, study says
NEWS RETIREMENT PLANNING JUL 28, 2023
401(k)s a better recruiting tool than cash, study says

New research found workers are willing to give up some income for access to a 401(k) and employer contributions.

By Emile Hallez
Why sandwich-generation stresses are weighing on retirement plans
NEWS RETIREMENT PLANNING JUL 28, 2023
Why sandwich-generation stresses are weighing on retirement plans

Advisor urges peers to educate themselves on elder care to help Gen Xers navigate tricky retirement landscape.

By Gregg Greenberg
Investors rank climate risk alongside financial disclosures, but there's a big problem
NEWS INDUSTRY NEWS JUL 28, 2023
Investors rank climate risk alongside financial disclosures, but there's a big problem

Institutional investors want better information from companies but are they able to provide it?

By Steve Randall
Another major bank/broker-dealer hit by SEC action
NEWS REGULATION AND LEGISLATION JUL 28, 2023
Another major bank/broker-dealer hit by SEC action

Big fine expected as the agency looks for another scalp.

By Matthew Sellers
Leap of faith sours for church members as SEC charges man in alleged $35M Ponzi  
NEWS REGULATION AND LEGISLATION JUL 28, 2023
Leap of faith sours for church members as SEC charges man in alleged $35M Ponzi  

Many of the investors were elderly retirees who were members of the same church as the man charged.

By Steve Randall
Bonds sell-off gains momentum, Intel gains 8% pre-market
NEWS INDUSTRY NEWS JUL 28, 2023
Bonds sell-off gains momentum, Intel gains 8% pre-market

Bonds were impacted by the BoJ's decision to loosen its grip on yields, meanwhile corporate earnings season continues.

By Bloomberg
Binance accuses CFTC of overreach, wants charges dropped
NEWS INDUSTRY NEWS JUL 28, 2023
Binance accuses CFTC of overreach, wants charges dropped

World's largest crypto exchange and its founder say the regulator's case is outside its remit and that its case is unsound.

By Bloomberg
Wristy business? Luxury watch market favors the mid-tier
NEWS INDUSTRY NEWS JUL 28, 2023
Wristy business? Luxury watch market favors the mid-tier

The secondary market for prestige timepieces shows those in the mid-tier of prices are outperforming the higher end.

By Bloomberg
Concerns percolate about how SEC’s AI proposal aligns with Reg BI
NEWS RIAS JUL 27, 2023
Concerns percolate about how SEC’s AI proposal aligns with Reg BI

Proposal will be an 'additive regime' that gets layered on, according to lawyer.

By Mark Schoeff Jr.