Industry News

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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.

Jackson gives a new spin on its investment-focused VAs, with guaranteed account balance option
NEWS LIFE INSURANCE AND ANNUITIES OCT 22, 2024
Jackson gives a new spin on its investment-focused VAs, with guaranteed account balance option

In a nod to sales trends that favor protection-focused annuities, the company has added a guaranteed minimum account balance rider for its Elite Access variable annuities.

NAIFA bolsters support for advisor members with Practice Intel tie-up
NEWS FINTECH OCT 22, 2024
NAIFA bolsters support for advisor members with Practice Intel tie-up

The association's new strategic partnership aims to help growth-focused advisors with access to a data-based performance improvement platform.

PE-backed CW Advisors taps Jennifer DeSisto as CIO
NEWS RIAS OCT 22, 2024
PE-backed CW Advisors taps Jennifer DeSisto as CIO

The firm's new C-suite hire with over 25 years of experience will help enhance the $10B Boston RIA's investment platform.

New York investment advisor fined $4M for breaking its own criteria
NEWS ESG OCT 22, 2024
New York investment advisor fined $4M for breaking its own criteria

SEC charged the firm with making misstatements and compliance failures.

Holiday travel plans impacted by inflation for most people, survey reveals
NEWS INDUSTRY NEWS OCT 22, 2024
Holiday travel plans impacted by inflation for most people, survey reveals

But most people will take on extra debt to pay for their travel.

S&P exposure is at levels that sparked 10% drop in past, warns Citi
NEWS INDUSTRY NEWS OCT 22, 2024
S&P exposure is at levels that sparked 10% drop in past, warns Citi

Strategists says long position on futures are 'particularly extended.'

No reason to halt rate cuts, says San Francisco Fed's Daly
NEWS INDUSTRY NEWS OCT 22, 2024
No reason to halt rate cuts, says San Francisco Fed's Daly

Weaker labor market is compelling reason for view.

US banks face greater competition as CFPB finalizes open banking rule
NEWS INDUSTRY NEWS OCT 22, 2024
US banks face greater competition as CFPB finalizes open banking rule

Easier sharing of financial data should lower costs for consumers.