Industry News

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Why BlackRock is staying overweight megacap tech stocks
NEWS INDUSTRY NEWS NOV 08, 2023
Why BlackRock is staying overweight megacap tech stocks

Asset manager has $100B tracking the biggest names in technology in its model portfolios.

UBS is selling AT1 bonds with attractive yields
NEWS INDUSTRY NEWS NOV 08, 2023
UBS is selling AT1 bonds with attractive yields

The securities will boost the banking group's capital buffer and aims to restore confidence.

HSBC launching custody service for tokenized securities
NEWS INDUSTRY NEWS NOV 08, 2023
HSBC launching custody service for tokenized securities

It's the latest financial institution to eye a slice of the fast-growing digital assets safeguarding space.

Osaic boosts cash flow in first half of 2023: Fitch
NEWS BROKER DEALERS NOV 07, 2023
Osaic boosts cash flow in first half of 2023: Fitch

The improvement demonstrates that the giant broker-dealer network, which many believe will seek to go public in the next few years, is moving its cash flow in the right direction.

$30 billion up for grabs as major bank dumps part of HNW portfolio
NEWS INDUSTRY NEWS NOV 07, 2023
$30 billion up for grabs as major bank dumps part of HNW portfolio

Who doesn’t want more clients? Well, this wealth management unit for one.

Abacus Life partners with Dynasty Financial Partners for new wealth division
NEWS LIFE INSURANCE AND ANNUITIES NOV 07, 2023
Abacus Life partners with Dynasty Financial Partners for new wealth division

The firm will offer clients comprehensive financial planning services.

Oil drops back below $80 despite supply cuts
NEWS INDUSTRY NEWS NOV 07, 2023
Oil drops back below $80 despite supply cuts

Global demand and interest rates are in focus as WTI falls more than 2%.

Wall Street leaders share fears with global financial services peers
NEWS INDUSTRY NEWS NOV 07, 2023
Wall Street leaders share fears with global financial services peers

Cocktail of potential disasters discussed as industry meets in Hong Kong.

UBS wants to shed $5B in wealthy clients' assets
NEWS INDUSTRY NEWS NOV 07, 2023
UBS wants to shed $5B in wealthy clients' assets

The firm is picking the bits of Credit Suisse it does and does not want.

Morgan Stanley's Gorman will step down as chair by end of 2024
NEWS INDUSTRY NEWS NOV 07, 2023
Morgan Stanley's Gorman will step down as chair by end of 2024

He will make way for incoming CEO Ted Pick to make his mark on the Wall Street titan.

Stimulus will boost China growth in 2024, says IMF
NEWS INDUSTRY NEWS NOV 07, 2023
Stimulus will boost China growth in 2024, says IMF

The organization has upgraded its outlook for the world's second largest economy.

Despite issues with Schwab, RIAs from TD stay put 
NEWS RIAS NOV 06, 2023
Despite issues with Schwab, RIAs from TD stay put 

Some advisors don’t like the number of master accounts at Schwab, the phone support or the technology. They’re exploring other custodians but don’t want to repaper.

Wealth chats with family members are a good thing, right? Not always, says Merrill Lynch
NEWS INDUSTRY NEWS NOV 06, 2023
Wealth chats with family members are a good thing, right? Not always, says Merrill Lynch

Spontaneous conversations about family fortunes can lead to regrets, new report warns.

High rates could derail year-end stocks rally, BlackRock says
NEWS INDUSTRY NEWS NOV 06, 2023
High rates could derail year-end stocks rally, BlackRock says

Research chief says rates outlook has not been reflected in equities yet.

Hedge funds' extended short positions on Treasuries wrongly timed
NEWS INDUSTRY NEWS NOV 06, 2023
Hedge funds' extended short positions on Treasuries wrongly timed

CFTC data shows bets persisted even though the cash bonds had rallied the week before.

Bankers want protection from greenwashing claims in $1.5T markets
NEWS INDUSTRY NEWS NOV 06, 2023
Bankers want protection from greenwashing claims in $1.5T markets

Wall Street stalwarts are among the largest providers of sustainability linked loans.

Captrust adds Normann Financial
NEWS RETIREMENT PLANNING NOV 03, 2023
Captrust adds Normann Financial

The Sanford, North Carolina-based firm oversees $1.3 billion in assets.

Faith-based investing on the rise as world grows more chaotic
NEWS INDUSTRY NEWS NOV 03, 2023
Faith-based investing on the rise as world grows more chaotic

ESG may have dominated the headlines, but faith-based investing has steadily – and quietly — been on the rise.

Jobs report suggests Fed may be done tightening
NEWS INDUSTRY NEWS NOV 03, 2023
Jobs report suggests Fed may be done tightening

The October employment data point to a cooling labor market, which reinforces market views that the Fed may be done with its rate hikes.

Dakota Wealth AUM nears $4B with acquisition of family-run practice
NEWS INDUSTRY NEWS NOV 03, 2023
Dakota Wealth AUM nears $4B with acquisition of family-run practice

The deal adds two offices to Dakota's footprint.