Industry News

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Goldman Sachs considers selling part of wealth business
NEWS RIAS AUG 21, 2023
Goldman Sachs considers selling part of wealth business

Potential sale of RIA unit comes with CEO David Solomon’s acumen and character under the spotlight.

Social Security’s crucial role shadowed by new doubts
NEWS RETIREMENT PLANNING AUG 21, 2023
Social Security’s crucial role shadowed by new doubts

Crisis of confidence in the program is prompting many to claim benefits early.

Which Wall Street firm could be about to break up high-profit unit?
NEWS INDUSTRY NEWS AUG 21, 2023
Which Wall Street firm could be about to break up high-profit unit?

Major firm reportedly considering restructuring one of its key operations.

Wealth and asset firms expect US recession, weakened industry growth
NEWS INDUSTRY NEWS AUG 21, 2023
Wealth and asset firms expect US recession, weakened industry growth

Dual-industry surveys reveal some big challenges ahead.

Tsunami of new rules bears down on advisors
NEWS RIAS AUG 21, 2023
Tsunami of new rules bears down on advisors

With the SEC preparing to approve a number of major proposals next year, firms face added costs and a huge amount of compliance work.

Preparing for clients’ cognitive decline
NEWS RETIREMENT PLANNING AUG 21, 2023
Preparing for clients’ cognitive decline

Financial advisors often find themselves on the front lines of an effort to protect clients’ lifetime savings and investments from the consequences of impaired mental capacity.

Mega-cap tech stocks post longest losing streak of 2023
NEWS INDUSTRY NEWS AUG 21, 2023
Mega-cap tech stocks post longest losing streak of 2023

Investors remain concerned about tighter policy amid stubborn inflation.

Bond bulls at JPMorgan, Allianz staying the course despite pain
NEWS INDUSTRY NEWS AUG 21, 2023
Bond bulls at JPMorgan, Allianz staying the course despite pain

Loading up on government bonds hasn't paid off, yet.

Grantham: 'Fed almost guaranteed to be wrong' on recession
NEWS INDUSTRY NEWS AUG 21, 2023
Grantham: 'Fed almost guaranteed to be wrong' on recession

Veteran investor Jeremey Grantham says the central bank is kidding itself if it thinks the economy will stay positive.

"Anti-ESG" investment firm hit with lawsuits
NEWS INDUSTRY NEWS AUG 21, 2023
"Anti-ESG" investment firm hit with lawsuits

GOP presidential hopeful also named as defendent.

Supporting the Sandwich Generation
NEWS INDUSTRY NEWS AUG 21, 2023
Supporting the Sandwich Generation

Join retirement expert Mary Beth Franklin and experts from Athene and Whealthcare Solutions as they focus on understanding the unique multi-generational challenges your clients can face.

'Personal affinity' spurs advisor to help Maui wildfire recovery
NEWS INDUSTRY NEWS AUG 18, 2023
'Personal affinity' spurs advisor to help Maui wildfire recovery

A Wealthspire advisor launches campaign that has so far raised $30,000 for the island.

RBC snags giant $5.5 billion team from UBS in Atlanta
NEWS PRACTICE MANAGEMENT AUG 18, 2023
RBC snags giant $5.5 billion team from UBS in Atlanta

The ESOP Group, founded in 1989, specializes in working with business owners on the sale of their businesses.

Largest federal union backs O'Malley for Social Security commissioner
NEWS REGULATION AND LEGISLATION AUG 18, 2023
Largest federal union backs O'Malley for Social Security commissioner

The AFGE represents 43,000 employees of the Social Security Administration.

Market performance pushes DB pension plans further into positive territory
NEWS INDUSTRY NEWS AUG 18, 2023
Market performance pushes DB pension plans further into positive territory

Milliman reports a further rise in defined-benefit plans' funded ratio.

Almost half of student loan debtors want more help to ease 'national crisis'
NEWS INDUSTRY NEWS AUG 18, 2023
Almost half of student loan debtors want more help to ease 'national crisis'

Even among those without outstanding education borrowing, a sizable share say it's a crisis.

Advisors shouldn't talk to clients about aging, most don't like it
NEWS RETIREMENT PLANNING AUG 18, 2023
Advisors shouldn't talk to clients about aging, most don't like it

Growing old ain't what it used to be, and neither is retirement planning.

Risk assets tumble as Fed, China cause concern
NEWS INDUSTRY NEWS AUG 18, 2023
Risk assets tumble as Fed, China cause concern

Markets being hit by a 'perfect storm' says Barclays analyst.

Bitcoin plunge as Musk SpaceX sale is reported
NEWS INDUSTRY NEWS AUG 18, 2023
Bitcoin plunge as Musk SpaceX sale is reported

Cryptocurrency falls up to 8% in trading.

401(k) millionaires stage comeback in Q2 with market gains
NEWS RETIREMENT PLANNING AUG 17, 2023
401(k) millionaires stage comeback in Q2 with market gains

This year's double-digit gains in the S&P 500 have helped swell retirement balances, Fidelity says.