Industry News

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Equity funds rebound as investors shrug off August selloff
NEWS INDUSTRY NEWS AUG 16, 2024
Equity funds rebound as investors shrug off August selloff

BofA note says funds are seeing inflows across asset classes.

Dealers are holding highest level of Treasuries than ever before
NEWS INDUSTRY NEWS AUG 16, 2024
Dealers are holding highest level of Treasuries than ever before

Record holdings by primary dealers last week, says New York Fed.

Why have foreign investors escalated Japanese stock trades?
NEWS INDUSTRY NEWS AUG 16, 2024
Why have foreign investors escalated Japanese stock trades?

BoJ recently went against the grain on interest rates.

Creative Planning hangs "Help Wanted" sign for advisors
NEWS RIAS AUG 15, 2024
Creative Planning hangs "Help Wanted" sign for advisors

"I think we’re gearing up to really grow very aggressively in the coming 15 months," says CEO Peter Mallouk.

More advisors adding utilities to juice up client portfolios
NEWS INDUSTRY NEWS AUG 15, 2024
More advisors adding utilities to juice up client portfolios

Wealth managers are increasingly turning to normally overlooked utility stocks for both yield and growth.

New Yorkers' debt woes grow amid slide in real income
NEWS INDUSTRY NEWS AUG 15, 2024
New Yorkers' debt woes grow amid slide in real income

Inflation is biting harder in the Big Apple, leading to more debt dependence, according to new Federal Reserve research.

SEC fines 26 firms a combined $390M for recordkeeping failures
NEWS INDUSTRY NEWS AUG 15, 2024
SEC fines 26 firms a combined $390M for recordkeeping failures

Firms that self-reported their violations will pay less than they would have done.

NewEdge Capital headed for another record year of growth for assets, advisors
NEWS INDUSTRY NEWS AUG 15, 2024
NewEdge Capital headed for another record year of growth for assets, advisors

Strong recruitment in the first half of 2024 has built on record 2023.

US futures up slightly following CPI print
NEWS INDUSTRY NEWS AUG 15, 2024
US futures up slightly following CPI print

Expectations for a soft landing, Fed cuts buoyed by data.

Americans should save $7.5B from drug price cuts, government says
NEWS INDUSTRY NEWS AUG 15, 2024
Americans should save $7.5B from drug price cuts, government says

Senior citizens set to save $1.5B in out-of-pocket expenses in year one.

World’s second largest economy continues to disappoint
NEWS INDUSTRY NEWS AUG 15, 2024
World’s second largest economy continues to disappoint

China’s weakness has extended into the third quarter.

Swedish fintech eyes Goldman Sachs for US IPO
NEWS INDUSTRY NEWS AUG 15, 2024
Swedish fintech eyes Goldman Sachs for US IPO

Klarna Bank plans to go public in the US in 2025.

NFP snaps up LA-based HNW financial concierge
NEWS INDUSTRY NEWS AUG 14, 2024
NFP snaps up LA-based HNW financial concierge

The global financial services firm and Aon subsidiary is elevating its service to affluent entertainers and athletes with its latest acquisition

After UBS earnings, is cash sweep drama over?
NEWS BROKER DEALERS AUG 14, 2024
After UBS earnings, is cash sweep drama over?

Broker-dealers are particularly interest rate sensitive companies.

Harris or Trump? Which candidate is Wall Street pulling for?
NEWS INDUSTRY NEWS AUG 14, 2024
Harris or Trump? Which candidate is Wall Street pulling for?

Neuberger Berman Private Wealth CIO Shannon Saccocia weighs in on what investors should be doing ahead of election day.

Fight against investor fee confusion far from over, says Dalbar
NEWS INDUSTRY NEWS AUG 14, 2024
Fight against investor fee confusion far from over, says Dalbar

While 74 percent said fees are critical for investment decisions, nearly half are unsure or unaware what they’re paying.

Households’ Covid-era liquid wealth has ebbed, leaving historic debt
NEWS INDUSTRY NEWS AUG 14, 2024
Households’ Covid-era liquid wealth has ebbed, leaving historic debt

Federal Reserve analysis unpacks trends in pandemic wealth, money market fund holdings, and debt across income groups.

Franklin Templeton’s SMA models find shelf space on Orion
NEWS INDUSTRY NEWS AUG 14, 2024
Franklin Templeton’s SMA models find shelf space on Orion

The storied asset manager looks to grow its $137B SMA business further with advisors on the TAMP provider’s platforms.

Finra fines Morgan Stanley $400k over trade disclosure flubs
NEWS INDUSTRY NEWS AUG 14, 2024
Finra fines Morgan Stanley $400k over trade disclosure flubs

The brokerage giant reportedly failed to accurately disclose critical information on more than 500,000 trades involving munis and debt securities.

Fed rate cut hopes stay alive as July core inflation eases
NEWS INDUSTRY NEWS AUG 14, 2024
Fed rate cut hopes stay alive as July core inflation eases

A fourth straight month of easing in annual inflation adds support for a September easing in monetary policy.