Industry News

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Equity-rich homes remain above historic levels, but gains are slowing
NEWS INDUSTRY NEWS OCT 24, 2024
Equity-rich homes remain above historic levels, but gains are slowing

Report also reveals changes in the number of homes underwater.

Tesla gains following surprisingly strong earnings
NEWS INDUSTRY NEWS OCT 24, 2024
Tesla gains following surprisingly strong earnings

Car maker expects 30% surge in sales in 2025.

Florida Pension wants to slash $4B of exposure to private debt
NEWS INDUSTRY NEWS OCT 24, 2024
Florida Pension wants to slash $4B of exposure to private debt

State pension board is said to be considering significant sale.

Crypto Trump trade may not be so good after all
NEWS INDUSTRY NEWS OCT 24, 2024
Crypto Trump trade may not be so good after all

Bitcoin gains have cooled as markets take stock.

Financial services tech impact will shape UBS future, says Ermotti
NEWS INDUSTRY NEWS OCT 24, 2024
Financial services tech impact will shape UBS future, says Ermotti

Firm's chief has been speaking at the IMF conference in Washington.

As Osaic consolidation winds down, are job cuts on the horizon?
NEWS RIAS OCT 23, 2024
As Osaic consolidation winds down, are job cuts on the horizon?

“With this rapid pace of change, there is always the potential for attrition and elimination of duplicative roles as natural outcomes," said Dimple Shah, executive vice president.

Deficit spending, a boost for AI, and what to expect post-election in the markets
NEWS INDUSTRY NEWS OCT 23, 2024
Deficit spending, a boost for AI, and what to expect post-election in the markets

The deficit will remain high or increase regardless, and some sectors will benefit from regulation stances more so than others, panelists at Franklin Templeton said.

"Mac" McQuown, father of the original index fund, passes away
NEWS INDUSTRY NEWS OCT 23, 2024
"Mac" McQuown, father of the original index fund, passes away

In memoriam: Industry mourns the pioneering engineer-turned-banker who kickstarted the $12T passive revolution.

JPMorgan's Dimon stealthily supports Harris, say insiders
NEWS INDUSTRY NEWS OCT 23, 2024
JPMorgan's Dimon stealthily supports Harris, say insiders

Reports indicate the iconic Wall Street leader, who sees "almost nil" chance of going into government, would refrain from taking sides publicly on the hotly contested election.

Raymond James bags $1B Merrill team
NEWS BROKER DEALERS OCT 23, 2024
Raymond James bags $1B Merrill team

The independent wealth giant's latest addition to its employee advisor channel extends its reach in New York's high-net-worth space.

CFP Board announces new directors to make history as it approaches 40
NEWS INDUSTRY NEWS OCT 23, 2024
CFP Board announces new directors to make history as it approaches 40

Two new director appointments mean new board sets a new record.

Women tend to seek other women's advisor recommendations, Edward Jones finds
NEWS INDUSTRY NEWS OCT 23, 2024
Women tend to seek other women's advisor recommendations, Edward Jones finds

Report also shows that women increasingly see themselves as the household CFO.

Industry, military veteran Fenwick joins LPL from regional brokerage he co-founded
NEWS INDUSTRY NEWS OCT 23, 2024
Industry, military veteran Fenwick joins LPL from regional brokerage he co-founded

Advisor managing $210M switches as 'industry has shifted' priorities.

SEC enforcer quotes Taylor Swift in concern over private markets
NEWS INDUSTRY NEWS OCT 23, 2024
SEC enforcer quotes Taylor Swift in concern over private markets

Andrew Dean says valuation risks are a 'core issue' for regulators.

Blackstone's Schwartzman says recession will be avoided
NEWS INDUSTRY NEWS OCT 23, 2024
Blackstone's Schwartzman says recession will be avoided

Whoever wins the election will guide US to growth, says firm's CEO.

Tesla earnings due but set to disappoint
NEWS INDUSTRY NEWS OCT 23, 2024
Tesla earnings due but set to disappoint

Profits expected to decline contrary to Magnificent Seven peers.

Student debt a major stressor for US workers
NEWS INDUSTRY NEWS OCT 22, 2024
Student debt a major stressor for US workers

New research finds nine-tenths of public and private workers with student loans consider it problematic, with over 44 percent saying it's a major problem.

Investors' faith in financial plans is growing
NEWS PRACTICE MANAGEMENT OCT 22, 2024
Investors' faith in financial plans is growing

Increased demand for financial plans follows market volatility and growing array of complex investment vehicles, Cerulli says.

Arizona strips license rep who 'fraudulently sold' GPB private placements
NEWS REGULATION AND LEGISLATION OCT 22, 2024
Arizona strips license rep who 'fraudulently sold' GPB private placements

Finra suspended the broker, Luke Johnson, earlier this year.

JPMorgan sues ex-advisor over alleged client poaching
NEWS INDUSTRY NEWS OCT 22, 2024
JPMorgan sues ex-advisor over alleged client poaching

The defector to Wells Fargo's attempts to solicit former clients worth more than $250M violate his post-employment agreement with the Wall Street giant, lawsuit argues.