Industry News

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Stripe to acquire stablecoin startup in $1.1B deal
NEWS INDUSTRY NEWS OCT 22, 2024
Stripe to acquire stablecoin startup in $1.1B deal

Payments firm plans to build world class platform.

Rich Steinmeier confirmed as LPL's new CEO
NEWS BROKER DEALERS OCT 21, 2024
Rich Steinmeier confirmed as LPL's new CEO

The broker-dealer giant's board finalized Steinmeier's chief executive appointment while elevating Matt Audette to president role.

Hightower to become majority owner of $1.66T firm NEPC
NEWS RIAS OCT 21, 2024
Hightower to become majority owner of $1.66T firm NEPC

The leading RIA's combination with the Boston-based OCIO giant is projected to represent $1.8T in AUA and $258B in AUM.

'You broke my heart': Accountant allegedly swindled Pacino out of $50M
NEWS PRACTICE MANAGEMENT OCT 21, 2024
'You broke my heart': Accountant allegedly swindled Pacino out of $50M

Entertainment niche advisor says key to clients not becoming victims of fraud is the "separation of church and state."

SEC gives nod to options trading for spot bitcoin ETFs
NEWS ETFS OCT 21, 2024
SEC gives nod to options trading for spot bitcoin ETFs

The regulator approved amended requests for rule changes by CBOE and NYSE American to allow options trade for several spot bitcoin ETFs.

Trump's tariffs and tax agenda poses risk for Social Security benefits, warns watchdog
NEWS RETIREMENT PLANNING OCT 21, 2024
Trump's tariffs and tax agenda poses risk for Social Security benefits, warns watchdog

An analysis by the Committee for a Responsible Federal Budget suggests the former president's second-term agenda would lead to a 33% cut by 2035.

Financial sentiment dominated by 'cautious optimism' ahead of election, advisors say
NEWS INDUSTRY NEWS OCT 21, 2024
Financial sentiment dominated by 'cautious optimism' ahead of election, advisors say

Clients remain positive but anxious before the election, according to an informal InvestmentNews wealth manager survey.

RIA M&A activity cools in Q3, but $1B plus deals are on the rise
NEWS RIAS OCT 21, 2024
RIA M&A activity cools in Q3, but $1B plus deals are on the rise

Fidelity's latest industry report shows deal pace slowing to healthier levels, with private equity continuing to play a significant role.

Morgan Stanley's James Gorman to head Disney board
NEWS WIREHOUSES OCT 21, 2024
Morgan Stanley's James Gorman to head Disney board

The iconic Wall Street leader will assume the role as the search continues for the global entertainment titan's next chief executive.

Hybrid RIA Realta scoops up Cetera leader Abbey Eastham
NEWS INDUSTRY NEWS OCT 21, 2024
Hybrid RIA Realta scoops up Cetera leader Abbey Eastham

The independent wealth firm is looking to give more advisors a voice through a newly created leadership role.

S&P rally could hit 6,000, but Goldman warns big gains era is over
NEWS INDUSTRY NEWS OCT 21, 2024
S&P rally could hit 6,000, but Goldman warns big gains era is over

Optimism persists among traders but strategists expect weaker returns ahead.

New ETF targets growth in the AI value chain amid predicted exponential growth
NEWS INDUSTRY NEWS OCT 21, 2024
New ETF targets growth in the AI value chain amid predicted exponential growth

Firms that are essential to the AI market are the focus for the new fund.

Did the Fed start cutting rates too soon?
NEWS INDUSTRY NEWS OCT 21, 2024
Did the Fed start cutting rates too soon?

EM investors are positioning for rising US inflation.

 Treasury 10-year yields at 5%? It could happen says T. Rowe Price
NEWS INDUSTRY NEWS OCT 21, 2024
Treasury 10-year yields at 5%? It could happen says T. Rowe Price

Analyst says level could be reached in the next six months.

Bitcoin rises amid $2.4B ETF inflows on Trump win bet
NEWS INDUSTRY NEWS OCT 21, 2024
Bitcoin rises amid $2.4B ETF inflows on Trump win bet

Investors see cryptos as a 'Trump trade' on soft regulation expectation.

MetLife could be about to add $100B AUM
NEWS INDUSTRY NEWS OCT 21, 2024
MetLife could be about to add $100B AUM

Insurer said to be in talks to acquire PineBridge assets outside of China.

intelliflo's redblack rides the wave of RIA M&A activity
NEWS RIAS OCT 18, 2024
intelliflo's redblack rides the wave of RIA M&A activity

"RIAs want a preferred tech stack," says firm's president of Americas Jennifer Valdez.

North American institutions keeping long-term focus amid near-term noise
NEWS ALTERNATIVES OCT 18, 2024
North American institutions keeping long-term focus amid near-term noise

Two-thirds of survey respondents agree upcoming elections a distraction, while three-fourths are prioritizing central bank actions and private market investments.

DOJ questions Western Asset clients as Ken Leech probe heats up
NEWS FIXED INCOME OCT 18, 2024
DOJ questions Western Asset clients as Ken Leech probe heats up

Fidelity, Russell Investments and other firms have received information requests relating to cherry-picking allegations, sources say.

Most affluent advice seekers want a one-stop wealth shop – but they're still shopping for options
NEWS INDUSTRY NEWS OCT 18, 2024
Most affluent advice seekers want a one-stop wealth shop – but they're still shopping for options

While nine-tenths are satisfied with their financial advisor and would look to their current provider first for a new service, firms can't let their guard down, says Cerulli.