Industry News

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Medicare fund will pay full benefits for extra five years
NEWS INDUSTRY NEWS MAY 07, 2024
Medicare fund will pay full benefits for extra five years

Strong economy means the fund should be in a solid position until 2036.

Trump Media's banned accountant had 20 B-D clients
NEWS BROKER DEALERS MAY 06, 2024
Trump Media's banned accountant had 20 B-D clients

"These firms have to go back, hire a new accounting firm and restate financials," said one senior industry executive.

Goldman bolsters alts commitment with new lending solution
NEWS RIAS MAY 06, 2024
Goldman bolsters alts commitment with new lending solution

Extended to eligible RIA clients, the new offering takes the staid practice of securities lending to the alternative investment space.

Do Warren Buffett’s words still carry weight on Wall Street?
NEWS INDUSTRY NEWS MAY 06, 2024
Do Warren Buffett’s words still carry weight on Wall Street?

The Berkshire Hathaway shareholders meeting remains a big draw, but do advisors still hang on the Oracle of Omaha's every word?

Stifel employees leave after probe into 'inappropriate relations'
NEWS INDUSTRY NEWS MAY 06, 2024
Stifel employees leave after probe into 'inappropriate relations'

A spokesperson for the St. Louis-based firm says it has 'taken appropriate action,' with one of the employees going through a 'legal process.'

Valuations for B-Ds and RIAs soar. Can it last?
NEWS RIAS MAY 06, 2024
Valuations for B-Ds and RIAs soar. Can it last?

Deals by LPL underscore surge in price propelled by the ongoing movement to fee-based revenue from one-time commission charges.

Asset managers are focusing on quality data and a better investor experience
NEWS INDUSTRY NEWS MAY 06, 2024
Asset managers are focusing on quality data and a better investor experience

Accurate data and an expanded product range are priorities.

Boomerang kids putting finances at risk for themselves and their parents
NEWS INDUSTRY NEWS MAY 06, 2024
Boomerang kids putting finances at risk for themselves and their parents

Report reveals a rise in adult children returning home.

Berkshire Hathaway earnings grow to $11B, cash hoard at $189B
NEWS INDUSTRY NEWS MAY 06, 2024
Berkshire Hathaway earnings grow to $11B, cash hoard at $189B

Warren Buffett says cash will only be spent on low-risk, high-return deals.

Stocks gain ahead of central bank speeches
NEWS INDUSTRY NEWS MAY 06, 2024
Stocks gain ahead of central bank speeches

Stocks gain ahead of central bank speeches.

Former bulls' EMs outlook sours
NEWS INDUSTRY NEWS MAY 06, 2024
Former bulls' EMs outlook sours

Higher-for-longer US rates and geopolitics are among the fears.

Hedge fund options bets may predict green equities performance
NEWS INDUSTRY NEWS MAY 06, 2024
Hedge fund options bets may predict green equities performance

New academic study found industry predictions outperform.

Biden White House wipes student-debt slates clean for art school victims
NEWS INDUSTRY NEWS MAY 03, 2024
Biden White House wipes student-debt slates clean for art school victims

The Biden administration has cancelled $6.1B worth of loans for 317,000 Americans who were deceived by the Art Institutes.

Whatever happened to that small-cap rally?
NEWS INDUSTRY NEWS MAY 03, 2024
Whatever happened to that small-cap rally?

Despite all the year-end predictions that small-cap stocks would outperform in 2024, the Russell 2000 index continues to trail the S&P 500 by a wide margin.

BlackRock-backed Willow wants to help advisors catch the wealth transfer wave
NEWS PRACTICE MANAGEMENT MAY 03, 2024
BlackRock-backed Willow wants to help advisors catch the wealth transfer wave

With fresh funding, the startup catering to financial advisors is offering new courses geared towards women and NextGen investors.

Fiducient Advisors names new president
NEWS INDUSTRY NEWS MAY 03, 2024
Fiducient Advisors names new president

The NFP affiliate firm announces industry veteran in a planned succession as its leader of nearly 20 years steps down.

Consumer watchdog questions the tax benefits of $116B HSAs, industry hits back
NEWS INDUSTRY NEWS MAY 03, 2024
Consumer watchdog questions the tax benefits of $116B HSAs, industry hits back

CFPB report says fees offset gains, but the ABA says it's inaccurate.

Tech stocks gain ahead of US jobs report
NEWS INDUSTRY NEWS MAY 03, 2024
Tech stocks gain ahead of US jobs report

Labour market data is due at 8.30am ET.

Bond traders now think Fed will move faster
NEWS INDUSTRY NEWS MAY 03, 2024
Bond traders now think Fed will move faster

Yields have fallen since the central bank's latest decision.

Gold heading for worst weekly loss since February
NEWS INDUSTRY NEWS MAY 03, 2024
Gold heading for worst weekly loss since February

Higher-for-longer rates expectation has weakened demand.