Industry News

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Ozempic's Novo to invest $4.1B in another US factory
NEWS INDUSTRY NEWS JUN 25, 2024
Ozempic's Novo to invest $4.1B in another US factory

Drugmaker wants to bring down cost in its biggest market.

New York's congestion costs the city $9B in lost time
NEWS INDUSTRY NEWS JUN 25, 2024
New York's congestion costs the city $9B in lost time

Chicago, LA, and Boston also make the global list.

Stock rally loses steam as AI darling Nvidia enters correction territory
NEWS INDUSTRY NEWS JUN 24, 2024
Stock rally loses steam as AI darling Nvidia enters correction territory

After a Cinderella run to become the most-expensive S&P 500 stock, the chipmaking colossus plunged nearly $400B.

Fidelis Capital adds UHNW planning cred with veteran hire
NEWS RIAS JUN 24, 2024
Fidelis Capital adds UHNW planning cred with veteran hire

Douglas Rothermich joins the firm from TIAA, where he had oversight of all HNW planning, and worked directly with clients holding more than $1B in assets.

Cetera welcomes Northwestern Mutual alum to CCO role
NEWS INDUSTRY NEWS JUN 24, 2024
Cetera welcomes Northwestern Mutual alum to CCO role

The organization revealed Gwen Weithaus, who has more than 30 years' experience, as the new compliance chief for its investment services arm.

No reason to abandon bull market yet, says Federated Hermes strategist
NEWS INDUSTRY NEWS JUN 24, 2024
No reason to abandon bull market yet, says Federated Hermes strategist

The road ahead might get choppier, but there's no obvious reason to deviate from the path, says Federated Hermes strategist Steven Chiavarone.

Morgan Stanley faces Reg BI lawsuit over interest in cash sweep accounts
NEWS BROKER DEALERS JUN 24, 2024
Morgan Stanley faces Reg BI lawsuit over interest in cash sweep accounts

The firm fell short of its fiduciary duty by paying customers dismal rates compared to what’s available in the market, according to class action.

SCS Financial taps Lane MacDonald for CIO role
NEWS RIAS JUN 24, 2024
SCS Financial taps Lane MacDonald for CIO role

The three-decade veteran will lead the continued growth of the Focus Financial partner firm’s investment platform.

Schwab Charitable unveils new brand as it reaches quarter century milestone
NEWS INDUSTRY NEWS JUN 24, 2024
Schwab Charitable unveils new brand as it reaches quarter century milestone

The new name reflects desire to attract a new generation of donors.

More Americans have zero or inadequate emergency savings
NEWS INDUSTRY NEWS JUN 24, 2024
More Americans have zero or inadequate emergency savings

And those that do are not happy with what they have saved.

Couples may talk less about finances as stress levels rise, study reveals
NEWS INDUSTRY NEWS JUN 24, 2024
Couples may talk less about finances as stress levels rise, study reveals

Despite being the most in need of open discussion, people may stay silent.

Could high rates last forever? Bond markets think so
NEWS INDUSTRY NEWS JUN 24, 2024
Could high rates last forever? Bond markets think so

While the Fed is expected to cut once this year, the future is less certain.

Is a dairy cabinet product about to spark surge for makers?
NEWS INDUSTRY NEWS JUN 24, 2024
Is a dairy cabinet product about to spark surge for makers?

Ozempic-led obesity-treatment craze boosting demand for other products.

Crypto cracks emerge as Bitcoin suffers second-worst week of 2024
NEWS INDUSTRY NEWS JUN 24, 2024
Crypto cracks emerge as Bitcoin suffers second-worst week of 2024

Fed rates speculation is weakening cryptocurrency market sentiment.

Fed finds chinks in Wall Street banks' living wills
NEWS REGULATION AND LEGISLATION JUN 21, 2024
Fed finds chinks in Wall Street banks' living wills

BofA, Citi, Goldman, and JPMorgan must take remedial action on "shortcomings" in wind-down plans, finds regulators.

State Street Global Advisors names new COO
NEWS INDUSTRY NEWS JUN 21, 2024
State Street Global Advisors names new COO

The firm’s latest C-suite hire brings extensive tech leadership experience, including nearly a decade at Schwab.

Estate tech provider wealth.com launches family office suite
NEWS INDUSTRY NEWS JUN 21, 2024
Estate tech provider wealth.com launches family office suite

The digital estate planning firm has also tapped a Commonwealth Financial veteran to help strengthen its HNW and UHNW planning offerings.

Biden vs. Trump: market impacts of election previewed
NEWS INDUSTRY NEWS JUN 21, 2024
Biden vs. Trump: market impacts of election previewed

The upcoming elections are crucial as it may have critical effects on the global economy and the country’s foreign policy

There were more RIAs in 2023 than ever before, but what does a typical firm look like?
NEWS RIAS JUN 21, 2024
There were more RIAs in 2023 than ever before, but what does a typical firm look like?

Investment Adviser Association report provides a snapshot of advisory firms.

Ameriprise welcomes $100M advisor to its branch channel 
NEWS INDUSTRY NEWS JUN 21, 2024
Ameriprise welcomes $100M advisor to its branch channel 

Former wirehouse employee says he is ready to expand his practice.