Industry News

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AI startups add some spice to US VC dealmaking
NEWS INDUSTRY NEWS JUL 03, 2024
AI startups add some spice to US VC dealmaking

Global deals were also higher in the second quarter.

Even with a $4B fortune, there's room for a side hustle
NEWS INDUSTRY NEWS JUL 03, 2024
Even with a $4B fortune, there's room for a side hustle

Former Lehman Bros. trader eyes AI potential with VC bets.

WisdomTree woos more advisors with portfolio solutions offering
NEWS PRACTICE MANAGEMENT JUL 02, 2024
WisdomTree woos more advisors with portfolio solutions offering

The firm is doubling down on its $3.5B model portfolios business with a fresh push to help enhance investment advisors’ practices.

Broker who took client funds for 17 years is barred
NEWS BROKER DEALERS JUL 02, 2024
Broker who took client funds for 17 years is barred

"A broker admitting that he has been ripping off clients for 17 years is beyond troubling," said one attorney.

BNY names new global head of investments and wealth
NEWS INDUSTRY NEWS JUL 02, 2024
BNY names new global head of investments and wealth

The Nuveen alum with investment experience from TIAA, AIG, and Merrill Lynch is set to join as longtime leader lets go of the reins.

Hints of jobs slowdown put Fed on the alert
NEWS INDUSTRY NEWS JUL 02, 2024
Hints of jobs slowdown put Fed on the alert

Hints of impending weakness in the labor market add to the central bank's list of risks to manage.

California becomes 26th state to enshrine high school personal finance education
NEWS INDUSTRY NEWS JUL 02, 2024
California becomes 26th state to enshrine high school personal finance education

Under landmark bill signed by Governor Newsom, passing a personal finance course will be a high school graduation requirement by 2031.

SEC charges Silvergate Capital Corporation, former execs with misleading investors
NEWS REGULATION AND LEGISLATION JUL 02, 2024
SEC charges Silvergate Capital Corporation, former execs with misleading investors

The firm and two individuals have settled, but CFO will fight to clear his name.

Kovitz set to exceed $24B AUM as new combination is announced
NEWS RIAS JUL 02, 2024
Kovitz set to exceed $24B AUM as new combination is announced

Focus Financial firm is preparing for another major tie-up.

How much income does the average American believe means financial security?
NEWS INDUSTRY NEWS JUL 02, 2024
How much income does the average American believe means financial security?

Spoiler alert: it's way more than most people make.

Wall Street weighs impact on bonds if Trump wins
NEWS INDUSTRY NEWS JUL 02, 2024
Wall Street weighs impact on bonds if Trump wins

Strategists urge investors to hedge against inflation.

More American homeowners locked into mortgage rates above 5%
NEWS INDUSTRY NEWS JUL 02, 2024
More American homeowners locked into mortgage rates above 5%

Older loans at lower rates are being replaced by costlier borrowing.

Take profits on five-year Treasuries now says JPMorgan
NEWS INDUSTRY NEWS JUL 02, 2024
Take profits on five-year Treasuries now says JPMorgan

Selling pressures are elevated due to multiple risk events.

'Roaring Kitty' orchestrated GameStop pump and dump, class action alleges
NEWS INDUSTRY NEWS JUL 01, 2024
'Roaring Kitty' orchestrated GameStop pump and dump, class action alleges

A federal lawsuit against the famed meme stock influencer alleges he purchased 120,000 options before re-emerging to post about the company in May.

SEC boots California RIA linked to crypto, private funds
NEWS RIAS JUL 01, 2024
SEC boots California RIA linked to crypto, private funds

"Nobody knows what’s happening internally in these pooled funds at the retail level," said one plaintiff's attorney.

EP Wealth scoops $700M Texas practice
NEWS INDUSTRY NEWS JUL 01, 2024
EP Wealth scoops $700M Texas practice

The fast-growing RIA boosts its assets in the state past $1B as it welcomes a 23-year planning and investment veteran as its new regional director.

Asset manager taps former Vanguard $274B PM to lead ETF operations
NEWS ETFS JUL 01, 2024
Asset manager taps former Vanguard $274B PM to lead ETF operations

After 14 years with Vanguard, Awais Khan has a new role.

Investors increasingly seeking alts but education is key, says Crewe CIO
NEWS ALTERNATIVES JUL 01, 2024
Investors increasingly seeking alts but education is key, says Crewe CIO

Dustin Thackeray, CFA, shares his insights on the alternatives investment space.

BlackRock enhances alts data with $3.2B Preqin acquisition
NEWS INDUSTRY NEWS JUL 01, 2024
BlackRock enhances alts data with $3.2B Preqin acquisition

Asset manager will gain valuable insights into risks, opportunities.

Schroders, UBS Global Wealth both see growth of the same haven
NEWS INDUSTRY NEWS JUL 01, 2024
Schroders, UBS Global Wealth both see growth of the same haven

With geopolitical uncertainty, fiscal risk the firms expect rocky H2 2024.