Industry News

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David Kowach's &Partners starts hiring advisors
NEWS PRACTICE MANAGEMENT OCT 05, 2023
David Kowach's &Partners starts hiring advisors

The new firm picks up advisors from Edward Jones and Wells Fargo.

LPL adds California team managing $150 million
NEWS BROKER DEALERS OCT 05, 2023
LPL adds California team managing $150 million

The Sacramento-based firm, Bradford Capital Group, was previously affiliated with Securities America.

UBS nabs two teams from Bernstein Private Wealth
NEWS WIREHOUSES OCT 05, 2023
UBS nabs two teams from Bernstein Private Wealth

The teams, both in Philadelphia, collectively manage $1.7 billion in assets.

Former $200M UBS team joins Snowden Lane Partners
NEWS ADVISOR MOVES OCT 05, 2023
Former $200M UBS team joins Snowden Lane Partners

The hybrid firm has added $4B in client assets in the past two years.

Dollar loses ahead of payroll data, but strategists see gains ahead
NEWS INDUSTRY NEWS OCT 05, 2023
Dollar loses ahead of payroll data, but strategists see gains ahead

Greenback weaker than most of its peers in early trading Thursday.

US IPOs buoyed by world's largest sovereign wealth fund
NEWS INDUSTRY NEWS OCT 05, 2023
US IPOs buoyed by world's largest sovereign wealth fund

The IPO market has seen a recent resurgence after poor run.

Citi believes China's economy has bottomed out and has boosted forecast
NEWS INDUSTRY NEWS OCT 05, 2023
Citi believes China's economy has bottomed out and has boosted forecast

Its analysts now expect growth of 5% for the world's second largest ecomomy.

Goldman says India equities are 'expensive' and advises caution
NEWS INDUSTRY NEWS OCT 05, 2023
Goldman says India equities are 'expensive' and advises caution

The country's elections are next year and valuations are elevated.

Courting wealthy individuals isn't all good news for communities
NEWS INDUSTRY NEWS OCT 05, 2023
Courting wealthy individuals isn't all good news for communities

Milan has discovered a key downside to being a mecca for the rich.

Employers racing to offload pensions to insurers
NEWS RETIREMENT PLANNING OCT 04, 2023
Employers racing to offload pensions to insurers

The trend is a boon for the insurance business, but there are questions about protections for retirees and workers.

Cetera to offer Avantax advisors slim bonuses to none at all
NEWS BROKER DEALERS OCT 04, 2023
Cetera to offer Avantax advisors slim bonuses to none at all

Meanwhile, Cetera's owner Genstar is reinvesting in the firm.

Target-date funds: Low fee doesn't equal low risk
NEWS OPINION OCT 04, 2023
Target-date funds: Low fee doesn't equal low risk

Three reasons why passive TDFs aren’t automatically the safer choice for DC plan fiduciaries

Parent of Sigma Financial rebrands as Axtella
NEWS RIAS OCT 04, 2023
Parent of Sigma Financial rebrands as Axtella

The company formerly known as SPS Family also owns Parkland Securities and RIA Sigma Planning.

Hightower announces layoffs after summer of deals
NEWS RIAS OCT 04, 2023
Hightower announces layoffs after summer of deals

The cutbacks affecting roughly 5% of its employees are aimed at ensuring the long-term success of its business, Hightower says.

Independent alpha: Making the breakaway math add up
NEWS OPINION OCT 04, 2023
Independent alpha: Making the breakaway math add up

Advisors who make the move to independence are forgoing massive recruitment bonuses. How can they justify this leap?

Veritable, Empower advisors join Savvy Advisors as principal wealth managers
NEWS ADVISOR MOVES OCT 04, 2023
Veritable, Empower advisors join Savvy Advisors as principal wealth managers

The duo have partnered with the digital-first platform in the Philadelphia area.

Millions of Americans face a retirement income shortfall, Vanguard research warns
NEWS RETIREMENT PLANNING OCT 04, 2023
Millions of Americans face a retirement income shortfall, Vanguard research warns

The gap between need and ability is highlighted in inaugural report.

BofA report reveals easing of wealthy households' charitable giving
NEWS INDUSTRY NEWS OCT 04, 2023
BofA report reveals easing of wealthy households' charitable giving

Fewer affluent US households donated and the amounts were smaller.

House bill to double HSA limits slammed as perk for wealthy
NEWS RETIREMENT PLANNING OCT 03, 2023
House bill to double HSA limits slammed as perk for wealthy

Opponents say the legislation would do little to help most people.

Go big or go boutique?
NEWS OPINION OCT 03, 2023
Go big or go boutique?

Here are questions financial advisors should consider before making a move.