Industry News

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Citigroup to exit distressed debt business
NEWS INDUSTRY NEWS DEC 21, 2023
Citigroup to exit distressed debt business

Wall Street firm is undertaking restructuring to revive investor confidence.

Major US bank becomes first to have a unionized branch
NEWS INDUSTRY NEWS DEC 21, 2023
Major US bank becomes first to have a unionized branch

Workers in Albuquerque vote to join union, Alaska branch could be next.

Which stock gained 600% this year to become world's top performer?
NEWS INDUSTRY NEWS DEC 21, 2023
Which stock gained 600% this year to become world's top performer?

Bloomberg data reveals how influencers helped spark interest in the firm.

Broker-dealer index stays on pace with S&P 500 this year
NEWS BROKER DEALERS DEC 20, 2023
Broker-dealer index stays on pace with S&P 500 this year

'The broker-dealers are the toll collectors of trading volume.'

Wealthy Americans say it's harder than ever to build and protect wealth
NEWS LIFE INSURANCE AND ANNUITIES DEC 20, 2023
Wealthy Americans say it's harder than ever to build and protect wealth

New report from Chubb probes the millionaire mindset to find what matters to them.

LPL welcomes $200M advisor team in upstate New York
NEWS ADVISOR MOVES DEC 20, 2023
LPL welcomes $200M advisor team in upstate New York

Firm shifts affiliation from Osaic network's Triad Advisors.

Global trade under pressure from Red Sea disruption
NEWS INDUSTRY NEWS DEC 20, 2023
Global trade under pressure from Red Sea disruption

Insurance costs surge as merchant fleet faces attacks.

What is the 'basis trade' and why is the SEC concerned?
NEWS FIXED INCOME DEC 20, 2023
What is the 'basis trade' and why is the SEC concerned?

The space is dominated by only a few hedge funds, and that could be risky.

Finra charges advisor with paying under the table commissions
NEWS REGULATION AND LEGISLATION DEC 19, 2023
Finra charges advisor with paying under the table commissions

Finra alleges a southern California broker kicked back $900,000 in commissions to non-registered sales person.

Introducing the inaugural InvestmentNews Awards
NEWS INDUSTRY NEWS DEC 19, 2023
Introducing the inaugural InvestmentNews Awards

Excellence demands recognition – celebrating the industry’s best and brightest.

‘Good people are doing good things’ with DAFs
NEWS PRACTICE MANAGEMENT DEC 19, 2023
‘Good people are doing good things’ with DAFs

Clients should want to give a charitable gift first and deal with tax deductions second, says director at Altair Advisers.

AI-driven advanced planning solution joins forces with Orion
NEWS FINTECH DEC 19, 2023
AI-driven advanced planning solution joins forces with Orion

Partnership saves advisors time as there is no need to manually enter client data, says FP Alpha.

JPMorgan among winners as Latin American wealth flocks to Miami
NEWS PRACTICE MANAGEMENT DEC 19, 2023
JPMorgan among winners as Latin American wealth flocks to Miami

However, Morgan Stanley has been losing clients in city amid Federal Reserve review of its measures to prevent potential money laundering.

Savvy Advisors hires former $425M Empower team leader as principal wealth manager
NEWS ADVISOR MOVES DEC 19, 2023
Savvy Advisors hires former $425M Empower team leader as principal wealth manager

It's the firm's seventh hire in the second half of 2023.

BlackRock sued for alleged misleading ESG strategy
NEWS ESG DEC 19, 2023
BlackRock sued for alleged misleading ESG strategy

Tennessee lawsuit claims 'a pattern of deception' which the firm rejects.

Worst year for M&A since 2013 as deals fail to reach $3T
NEWS INDUSTRY NEWS DEC 19, 2023
Worst year for M&A since 2013 as deals fail to reach $3T

People have been looking for reasons to avoid deals, says Wall Street leader.

JPMorgan senior leader changes likely in search for Dimon heir
NEWS BROKER DEALERS DEC 19, 2023
JPMorgan senior leader changes likely in search for Dimon heir

With the clock ticking on the CEO's extended tenure, who might be his successor?

Even as financial firms slim down head count, hiring is growing in one area
NEWS PRACTICE MANAGEMENT DEC 18, 2023
Even as financial firms slim down head count, hiring is growing in one area

Hires reflect the increasingly competitive industry environment.

Goldman adds voice to bearish expectations for the dollar
NEWS INDUSTRY NEWS DEC 18, 2023
Goldman adds voice to bearish expectations for the dollar

Analysts now think the greenback will be weaker as Fed eases rates.

Could FTX investors finally get some money back?
NEWS INDUSTRY NEWS DEC 18, 2023
Could FTX investors finally get some money back?

The firm has announced its plan to end its bankruptcy.