Industry News

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BlackRock among holders of embattled China bonds
NEWS INDUSTRY NEWS AUG 16, 2023
BlackRock among holders of embattled China bonds

Investors fear a missed payment, so which other firms are exposed?

Hedge fund says US hard landing and sell-off frenzy ahead
NEWS ALTERNATIVES AUG 16, 2023
Hedge fund says US hard landing and sell-off frenzy ahead

Vantage Point Asset Management says people will be panicking.

Apollo impact investing co-head Marc Becker dies aged 51
NEWS INDUSTRY NEWS AUG 16, 2023
Apollo impact investing co-head Marc Becker dies aged 51

The private equity firm executive was battling cancer.

SPAC to Nasdaq: deal hands auto tycoon $39B overnight
NEWS INDUSTRY NEWS AUG 16, 2023
SPAC to Nasdaq: deal hands auto tycoon $39B overnight

But could vulnerability to market swings wipe out fortune just as fast?

Back-to-school season has advisors talking tuition strategies
NEWS INDUSTRY NEWS AUG 15, 2023
Back-to-school season has advisors talking tuition strategies

Advisors reveal how they teach parent clients a lesson or two about tax-efficient ways to pay tuition bills.

Signature RIA set to open broker-dealer
NEWS RIAS AUG 15, 2023
Signature RIA set to open broker-dealer

The new broker-dealer expects to transition up to 30 financial advisors who are currently registered with Osaic.

DC plan sponsors taking more responsibility for employees' retirement income
NEWS RETIREMENT PLANNING AUG 15, 2023
DC plan sponsors taking more responsibility for employees' retirement income

J.P. Morgan Asset Management survey reveals greater role of employers in workers' financial well-being.

$205M advisor duo joins LPL from Raymond James' Fulton Financial Advisors
NEWS ADVISOR MOVES AUG 15, 2023
$205M advisor duo joins LPL from Raymond James' Fulton Financial Advisors

The team in Arundel County, Maryland, join LPL's broker-dealer, RIA and custodial platforms.

SageView founder to become chairman as private wealth leader joins as CEO
NEWS RIAS AUG 15, 2023
SageView founder to become chairman as private wealth leader joins as CEO

The firm is expanding its focus on wealth management and retirement plan advisory.

UBS to pay $1.4B to settle mortgage-backed securities case
NEWS INDUSTRY NEWS AUG 15, 2023
UBS to pay $1.4B to settle mortgage-backed securities case

The case is one of the firm's longest-running legal issues, dating back to 2006 and 2007.

US futures track lower as global stocks weaken
NEWS INDUSTRY NEWS AUG 15, 2023
US futures track lower as global stocks weaken

Inflation concerns and China growth are main concerns.

Big tech in focus for hedge funds in Q2
NEWS INDUSTRY NEWS AUG 15, 2023
Big tech in focus for hedge funds in Q2

Meta, Microsoft, and Apple were among the top picks for funds.

EMs under pressure give money managers a jolt
NEWS INDUSTRY NEWS AUG 15, 2023
EMs under pressure give money managers a jolt

Emerging markets are heading for their worst month since February.

UBS reaches $1.44B settlement in DOJ mortgage-bond case
NEWS WIREHOUSES AUG 14, 2023
UBS reaches $1.44B settlement in DOJ mortgage-bond case

The case, which dates back to 2006 and 2007, relates to the issuance, underwriting and sale of the securities.

Former Wells Fargo private bank execs gather assets at new firm
NEWS RIAS AUG 14, 2023
Former Wells Fargo private bank execs gather assets at new firm

Jack Ginter was the president of Wells Fargo's private bank until he left in 2021.

Helping clients avoid the cost of financial ignorance
NEWS PRACTICE MANAGEMENT AUG 14, 2023
Helping clients avoid the cost of financial ignorance

Advisors can bring back 'rational thinking' as study to mark Financial Awareness Day reveals lack of knowledge costs average household up to $5,059 a year.

Sequoia Financial acquiring special needs-focused wealth manager Affinia
NEWS RIAS AUG 14, 2023
Sequoia Financial acquiring special needs-focused wealth manager Affinia

Burlington, Massachusetts-based Affinia has 10 professionals overseeing $418 million in assets.

Financial firms hate the term 'ESG' but are sticking with the strategy
NEWS ESG AUG 14, 2023
Financial firms hate the term 'ESG' but are sticking with the strategy

About two-thirds of respondents to a Bloomberg survey say they'll stop using ESG in conversations with clients but continue to incorporate it in their business.

Schwab says TD Ameritrade deal causing retail, advisory attrition
NEWS INDUSTRY NEWS AUG 14, 2023
Schwab says TD Ameritrade deal causing retail, advisory attrition

Finance chief Crawford says company has stepped back from some custodial relations Ameritrade offered institutional clients.

UBS Wealth Management takes another $640M team from Wall Street firm
NEWS WIREHOUSES AUG 14, 2023
UBS Wealth Management takes another $640M team from Wall Street firm

The Swiss-headquartered wealth manager has expanded its advisor head count in Ohio.