Industry News

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Why Morgan Stanley has resumed bearish view on EMs
NEWS INDUSTRY NEWS SEP 06, 2023
Why Morgan Stanley has resumed bearish view on EMs

Wall Street stalwart points to China growth risks.

Climate goals need $18T investment, but red tape is in the way
NEWS INDUSTRY NEWS SEP 06, 2023
Climate goals need $18T investment, but red tape is in the way

BCG says the speed of greener energy must speed up.

Who are the powerbrokers controlling $3T of global wealth?
NEWS INDUSTRY NEWS SEP 06, 2023
Who are the powerbrokers controlling $3T of global wealth?

Middle East based investment funds are key players in global dealmaking.

Ex-DRW trader allegedly stole quant strategy code
NEWS INDUSTRY NEWS SEP 06, 2023
Ex-DRW trader allegedly stole quant strategy code

Lawsuit accuses the trader and analyst of copying proprietary software code.

Tax and financial planning questions raised by Diddy's song rights transfer
NEWS RETIREMENT PLANNING SEP 05, 2023
Tax and financial planning questions raised by Diddy's song rights transfer

Creative control, income and capital gains are among the considerations for songwriters and recording artists.

Schwab execs declare RIA transition from TD a success
NEWS FINTECH SEP 05, 2023
Schwab execs declare RIA transition from TD a success

Despite some minor glitches and some email outreach confusion, most advisors are handling the change well.

Brokerages make progress, but still fall short on Reg BI compliance: State regulators
NEWS REGULATION AND LEGISLATION SEP 05, 2023
Brokerages make progress, but still fall short on Reg BI compliance: State regulators

'Efforts to address the standard of care concepts established by Reg BI remain perfunctory,' the NASAA report states.

Ex-Wells chief Kowach's new firm buys Tennessee  broker-dealer
NEWS RIAS SEP 05, 2023
Ex-Wells chief Kowach's new firm buys Tennessee broker-dealer

The firm, Wiley Bros.-Aintree Capital, is based in Nashville and has been in business since 1945.

$4.5B team from Bank of America Private Bank joins RIA
NEWS RIAS SEP 05, 2023
$4.5B team from Bank of America Private Bank joins RIA

The five-member team joining Fidelis Capital will operate from an office in Washington, D.C.

Former Wells Fargo exec Tolstedt deserves prison in accounts scandal, US says
NEWS WIREHOUSES SEP 05, 2023
Former Wells Fargo exec Tolstedt deserves prison in accounts scandal, US says

Carrie Tolstedt, the bank's former head of retail banking, pled guilty this year to obstructing the investigation of the bank's fake accounts.

Want to invest in part of a luxury auto? There's a new platform for that
NEWS INDUSTRY NEWS SEP 05, 2023
Want to invest in part of a luxury auto? There's a new platform for that

Investors can now own a piece of rare, luxury, investment-grade vehicles.

Focus Financial Partners eyes new growth as $7B take-private completes
NEWS RIAS SEP 05, 2023
Focus Financial Partners eyes new growth as $7B take-private completes

The firm has been acquired by Clayton Dubilier & Rice and Stone Point Capital affiliated funds.

Hold tight! Financial services set to grow to $37.5 trillion by 2027
NEWS INDUSTRY NEWS SEP 05, 2023
Hold tight! Financial services set to grow to $37.5 trillion by 2027

Substantial global growth of 7.5% CAGR is anticipated in a new report.

Goldman slashes US recession risk amid positive data
NEWS INDUSTRY NEWS SEP 05, 2023
Goldman slashes US recession risk amid positive data

Wall Street bank believes Fed may now pause rates.

Global banks lagging on climate change action, report warns
NEWS INDUSTRY NEWS SEP 05, 2023
Global banks lagging on climate change action, report warns

The industry is too opaque in its disclosures, leaving investors guessing.

Asset managers struggle without ESG registration
NEWS INDUSTRY NEWS SEP 05, 2023
Asset managers struggle without ESG registration

Firms trying to sell in the EU are finding it hard without credentials.

One step forward, one step back for use of crypto in retirement accounts
NEWS RETIREMENT PLANNING SEP 01, 2023
One step forward, one step back for use of crypto in retirement accounts

'Crypto is on a journey from a niche asset class to a mainstream asset class,' says an advisor.

Finra fines, censures New Jersey broker-dealer for violating Reg BI
NEWS PRACTICE MANAGEMENT SEP 01, 2023
Finra fines, censures New Jersey broker-dealer for violating Reg BI

Network 1 Financial Securities did not have a written system to identify and flag excessive trading, resulting in $533,500 in commissions for the firm, regulator says.

Another key executive to leave Goldman asset and wealth group?
NEWS PRACTICE MANAGEMENT SEP 01, 2023
Another key executive to leave Goldman asset and wealth group?

The New York Post report comes after a string of executives have left the group in recent months.

US house prices gain after 2 months, affordability weakest since 1984
NEWS INDUSTRY NEWS SEP 01, 2023
US house prices gain after 2 months, affordability weakest since 1984

Buying a home is becoming an increasingly elusive part of the American Dream.