Industry News

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T. Rowe Price forges 529 alliance with Ascensus
NEWS FINTECH MAY 29, 2024
T. Rowe Price forges 529 alliance with Ascensus

The retirement industry giant is tapping the leading TPA and recordkeeper to service its state-sponsored 529 plans.

Merrill Lynch agrees to nearly $20M settlement for racial class action
NEWS WIREHOUSES MAY 29, 2024
Merrill Lynch agrees to nearly $20M settlement for racial class action

Discriminatory actions at the wirehouse have restricted business opportunities and compensation for African American advisors, alleged four former employees.

American consumers are more confident generally, but finances remain concerning
NEWS INDUSTRY NEWS MAY 29, 2024
American consumers are more confident generally, but finances remain concerning

Reports from The Conference Board reveal mixed sentiment.

Stocks, bonds decline as US Treasuries fall overnight
NEWS INDUSTRY NEWS MAY 29, 2024
Stocks, bonds decline as US Treasuries fall overnight

Fed comments and inflation data weigh on markets.

Hedge funds take Magnificent Seven exposure to record high
NEWS INDUSTRY NEWS MAY 29, 2024
Hedge funds take Magnificent Seven exposure to record high

Tech mega-caps account for more than 20% of funds' US stock exposure.

BlackRock's $20 Billion ETF becomes world’s biggest bitcoin fund
NEWS INDUSTRY NEWS MAY 29, 2024
BlackRock's $20 Billion ETF becomes world’s biggest bitcoin fund

The firm's offering has nudged ahead of Grayscale.

Cathie Wood's $60 Million venture fund backs Elon Musk's AI firm
NEWS INDUSTRY NEWS MAY 29, 2024
Cathie Wood's $60 Million venture fund backs Elon Musk's AI firm

Ark Venture Fund has also invested in OpenAI recently.

Excellence Awardee impacts people in 'big, hairy, audacious ways'
NEWS INDUSTRY NEWS MAY 28, 2024
Excellence Awardee impacts people in 'big, hairy, audacious ways'

InvestmentNews Awards 2024, Advisor of the Year (Regional - Southwest): Jimmy Williams, Compass Capital Management.

Young advisors face marketing struggles, finalist warns
NEWS INDUSTRY NEWS MAY 28, 2024
Young advisors face marketing struggles, finalist warns

InvestmentNews Awards 2024, Advisor of the Year (Regional - Southwest): Stephanie Tsang, North Star Resource Group.

Fee compression is a 'real challenge' for the industry
NEWS INDUSTRY NEWS MAY 28, 2024
Fee compression is a 'real challenge' for the industry

InvestmentNews Awards 2024, Advisor of the Year (Western region): Robert Patton, SageView Advisory Group.

'It takes a firm to put financial plans together'
NEWS INDUSTRY NEWS MAY 28, 2024
'It takes a firm to put financial plans together'

InvestmentNews Awards 2024, Advisor of the Year (Regional - Midwest): Jim Wessels, Vision Financial Group.

Americans looking forward to more student loan relief
NEWS INDUSTRY NEWS MAY 28, 2024
Americans looking forward to more student loan relief

Federal Reserve Bank survey reveals many have higher hopes for federal student debt forgiveness, particularly older borrowers.

The market's 'fear gauge' is hitting rock bottom. Should you be scared?
NEWS INDUSTRY NEWS MAY 28, 2024
The market's 'fear gauge' is hitting rock bottom. Should you be scared?

The CBOE Volatility Index (VIX) has been scraping along historically low levels. When volatility sinks to such depths, it is often a sell signal.

Merrill data bungle hits Walmart 401(k) plan
NEWS FINTECH MAY 28, 2024
Merrill data bungle hits Walmart 401(k) plan

'We're hearing more horror stories' about clients becoming targets after a data breach, one attorney says.

Treasury yields tick up following tepid bond sales
NEWS INDUSTRY NEWS MAY 28, 2024
Treasury yields tick up following tepid bond sales

Markets drift as investors digest surprise in consumer confidence and fresh remarks from a Federal Reserve Bank official.

From Superbowl stardom to wealth management boardroom
NEWS RIAS MAY 28, 2024
From Superbowl stardom to wealth management boardroom

Bennie Fowler, who won Super Bowl 50 with the Denver Broncos, reflects on his new career as Caprock’s director of strategic relationships.

First generation immigrant advisor brings cultural approach to clients
NEWS INDUSTRY NEWS MAY 28, 2024
First generation immigrant advisor brings cultural approach to clients

InvestmentNews Awards 2024, Advisor of the Year (Regional - Southeast): Divam Mehta, Mehta Financial Group

“Fearless” singer Taylor Swift joins billionaires’ club on prestigious women’s rich list
NEWS INDUSTRY NEWS MAY 28, 2024
“Fearless” singer Taylor Swift joins billionaires’ club on prestigious women’s rich list

America’s wealthiest self-made women saw their collective net worths soar past $20B, with 11 new members on the list.

Advisors must go beyond the numbers, finalist says
NEWS INDUSTRY NEWS MAY 28, 2024
Advisors must go beyond the numbers, finalist says

InvestmentNews Awards 2024, Advisor of the Year (Regional - Northeast): Rocco Carriero, Rocco A. Carriero Wealth Partners, Ameriprise Financial.

Putting clients first is always top priority for finalist
NEWS INDUSTRY NEWS MAY 28, 2024
Putting clients first is always top priority for finalist

InvestmentNews Awards 2024, Advisor of the Year (Regional - Southwest): John Loyd, The Wealth Planner.