Industry News

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Higher income households more likely to have long-term credit card debt
NEWS INDUSTRY NEWS AUG 08, 2023
Higher income households more likely to have long-term credit card debt

Those with earnings at least $100K are more than twice as likely to have held credit card debt for 5 years or more.

Investors cautious after US banks ratings downgrade
NEWS INDUSTRY NEWS AUG 08, 2023
Investors cautious after US banks ratings downgrade

Moody's has cut ratings on several smal-l and mid- tier banks, meanwhile China data is adding to concerns.

Citi strategists see higher equities after 'orderly' sell-off
NEWS INDUSTRY NEWS AUG 08, 2023
Citi strategists see higher equities after 'orderly' sell-off

Chris Montague says last week's pullback has reduced positioning risk.

Cathie Wood predicts SEC will approve multiple bitcoin ETFs at once
NEWS ALTERNATIVES AUG 07, 2023
Cathie Wood predicts SEC will approve multiple bitcoin ETFs at once

The ARK Investment Management CEO backed away from her previous view that her firm's spot-bitcoin ETF would be the first to be approved.

Top Hybrid RIAs 2023
NEWS RIAS AUG 07, 2023
Top Hybrid RIAs 2023

Here's a list of the biggest hybrid registered investment advisors, based on the data firms report to the SEC on their Form ADV.

Democratic bill would require spousal consent for 401(k) distributions
NEWS RETIREMENT PLANNING AUG 07, 2023
Democratic bill would require spousal consent for 401(k) distributions

Legislation would extend spousal protections used in pensions to defined-contribution plans.

Ex-Wells Fargo Advisors chief Kowach launching new firm
NEWS RIAS AUG 07, 2023
Ex-Wells Fargo Advisors chief Kowach launching new firm

'Kowach has been laying the groundwork for this since last year,' says one industry source.

Planning for the possibility of cognitive decline
NEWS RETIREMENT PLANNING AUG 07, 2023
Planning for the possibility of cognitive decline

New research shows that mental deterioration hits some groups of retirees harder than others.

How the end of the student loan pause could affect retirement saving
NEWS RETIREMENT PLANNING AUG 07, 2023
How the end of the student loan pause could affect retirement saving

Next year, more employers will start offering 401(k) matches for workers who don't contribute but are paying down loans.

Getting Medicare premiums refunded after death
NEWS RETIREMENT PLANNING AUG 07, 2023
Getting Medicare premiums refunded after death

Survivors can apply for a refund of the deceased person's unused premiums.

Are AUM fees heading toward extinction?
NEWS RIAS AUG 07, 2023
Are AUM fees heading toward extinction?

The asset-based model is the default setting for many firms, but more creative thinking is needed to attract the next generation of clients.

Navigating AI’s regulatory challenges
NEWS FINTECH AUG 07, 2023
Navigating AI’s regulatory challenges

Like other technologies in the past, AI is bound to reshape the operations of the financial advice industry.

Many Americans relying on insurance they haven't bought to pay for old-age care
NEWS RETIREMENT PLANNING AUG 07, 2023
Many Americans relying on insurance they haven't bought to pay for old-age care

Survey reveals how people believe they will cope in their senior years, and the gaps that exist.

As back-to-school season approaches, families are getting stressed about finances
NEWS INDUSTRY NEWS AUG 07, 2023
As back-to-school season approaches, families are getting stressed about finances

Edward Jones survey reveals lack of financial education at high school sets people up for financial problems.

US stock futures gain, Treasury yields rise
NEWS INDUSTRY NEWS AUG 07, 2023
US stock futures gain, Treasury yields rise

CPI data in focus this week and prices are set for moderate increase.

Most investors expect a US recession before end of 2024
NEWS INDUSTRY NEWS AUG 07, 2023
Most investors expect a US recession before end of 2024

A minority think that the economy will contract before 2023 is over.

Fiscal tightening is risk to stocks, warns Morgan Stanley strategist
NEWS INDUSTRY NEWS AUG 07, 2023
Fiscal tightening is risk to stocks, warns Morgan Stanley strategist

Michael Wilson believes high fiscal spending is unsustainable.

Morgan Stanley hits 70% of $1T ESG funding goal
NEWS ESG AUG 04, 2023
Morgan Stanley hits 70% of $1T ESG funding goal

Firm's funding went toward areas including clean energy, carbon removal and social housing.

RBC Wealth lures $1.1B advisory team from UBS to expand presence in Ohio
NEWS ADVISOR MOVES AUG 04, 2023
RBC Wealth lures $1.1B advisory team from UBS to expand presence in Ohio

The addition of James Ford & Duble Wealth Partners grows RBC's footprint in the Great Lakes region.

Bill to allow use of 529 funds for advisor credential courses gains more support
NEWS PRACTICE MANAGEMENT AUG 04, 2023
Bill to allow use of 529 funds for advisor credential courses gains more support

More certified financial planners will help more people make better decisions with their money, says advisor.