Industry News

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Blackstone prepping new funds for retail market
NEWS ALTERNATIVES JUL 18, 2024
Blackstone prepping new funds for retail market

"With a big name like Blackstone, it's easier for a broker-dealer or RIA to get behind that brand," says industry executive.

Most investors remain bullish but concerned about inflation, skeptical on rate cuts
NEWS INDUSTRY NEWS JUL 18, 2024
Most investors remain bullish but concerned about inflation, skeptical on rate cuts

Morgan Stanley survey reveals mega-caps driving sentiment.

Whistleblower awarded more than $37M by SEC
NEWS INDUSTRY NEWS JUL 18, 2024
Whistleblower awarded more than $37M by SEC

Agency says award reflects importance of the program.

Celebrations can be costly, most Americans would rather not risk their financial wellbeing
NEWS INDUSTRY NEWS JUL 18, 2024
Celebrations can be costly, most Americans would rather not risk their financial wellbeing

How the rise of 'loud budgeting' is tackling potentially awkward conversations.

Markets underestimating risk of rising shipping costs
NEWS INDUSTRY NEWS JUL 18, 2024
Markets underestimating risk of rising shipping costs

Nomura warns of notable upward pressure on inflation.

ESG fund launches show sharp slowdown
NEWS INDUSTRY NEWS JUL 18, 2024
ESG fund launches show sharp slowdown

Only around100 funds launched through to the end of May.

Morgan Stanley revamps senior leaders in M&A unit
NEWS INDUSTRY NEWS JUL 18, 2024
Morgan Stanley revamps senior leaders in M&A unit

Firm announces changes to global division management team.

Looking back on a lifetime of success
NEWS INDUSTRY NEWS JUL 17, 2024
Looking back on a lifetime of success

Fresh from winning the InvestmentNews Lifetime Achievement award, Envestnet’s Bill Crager recalls the company’s ‘Aha!’ moment.

BlackRock takes to the blue-chip bond market for Preqin deal funding
NEWS ALTERNATIVES JUL 17, 2024
BlackRock takes to the blue-chip bond market for Preqin deal funding

The world's largest asset manager is issuing three tranches of debt to help fuel its venture into the private-markets data space.

CFP Board taps Rise's Terri Kallsen as chair-elect for 2025
NEWS PRACTICE MANAGEMENT JUL 17, 2024
CFP Board taps Rise's Terri Kallsen as chair-elect for 2025

Kallsen will assume the role from Elizabeth Miller, who’ll step up as chair of the board next year.

Finra employees saw a 4.7% comp bump in 2023
NEWS BROKER DEALERS JUL 17, 2024
Finra employees saw a 4.7% comp bump in 2023

"No one has ever gone hungry working for Finra," said one compliance executive.

Finra adds enforcement muscle with SVP hires
NEWS REGULATION AND LEGISLATION JUL 17, 2024
Finra adds enforcement muscle with SVP hires

The industry regulator has tapped two legal luminaries to newly established positions following a report questioning its thin 2023 record.

Northern Trust tightens San Diego focus with new market leader
NEWS INDUSTRY NEWS JUL 17, 2024
Northern Trust tightens San Diego focus with new market leader

The latest promotion in the firm’s wealth division will oversee strategic growth and services in the high-net-worth hotspot.

AI laggards gain traction as fatigue sets in for Magnificent Seven
NEWS INDUSTRY NEWS JUL 17, 2024
AI laggards gain traction as fatigue sets in for Magnificent Seven

Experts see a "catch-up" trade in tech as extreme growth in AI leaders sets stage for value seekers.

Avantax extends New York presence with veteran advisor duo
NEWS ADVISOR MOVES JUL 17, 2024
Avantax extends New York presence with veteran advisor duo

Cetera's tax-centric subsidiary is welcoming a $150M independent team in Long Island that chose to cut ties with Osaic.

Mutual fund fees for 401(k) investors have fallen significantly since 2000
NEWS INDUSTRY NEWS JUL 17, 2024
Mutual fund fees for 401(k) investors have fallen significantly since 2000

A new analysis shows average fees have more than halved in the 21st century.

Why Ark's Cathie Wood sees a 10x surge for Tesla stock
NEWS INDUSTRY NEWS JUL 17, 2024
Why Ark's Cathie Wood sees a 10x surge for Tesla stock

Yet-to-launch business line could generate $5T in revenues.

BofA is investing more in high profit trading arm
NEWS INDUSTRY NEWS JUL 17, 2024
BofA is investing more in high profit trading arm

Division just posted second-best quarterly results.

Wall Street is scrubbing ESG from job titles
NEWS INDUSTRY NEWS JUL 17, 2024
Wall Street is scrubbing ESG from job titles

Products and positions more likely to reflect 'sustainability'.

HSBC picks insider as new CEO
NEWS INDUSTRY NEWS JUL 17, 2024
HSBC picks insider as new CEO

New leader takes over at the global banking group in September.