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Dakota Wealth AUM nears $4B with acquisition of family-run practice
INDUSTRY NEWS NOV 03, 2023
Dakota Wealth AUM nears $4B with acquisition of family-run practice

The deal adds two offices to Dakota's footprint.

Five advisors managing $550M switch to LPL from Ameriprise  
ADVISOR MOVES NOV 03, 2023
Five advisors managing $550M switch to LPL from Ameriprise  

Ohio-based team has more than 115 years of combined industry experience.

Crypto convict: Bankman-Fried will spend decades in jail
INDUSTRY NEWS NOV 03, 2023
Crypto convict: Bankman-Fried will spend decades in jail

FTX founder committed "one of the biggest financial frauds in American history" and justice was swift.

US jobs data in focus, markets optimistic
INDUSTRY NEWS NOV 03, 2023
US jobs data in focus, markets optimistic

It's hoped the stats will give weight to a looser rates policy from the Fed.

BofA strategist sees year-end equities rally, risk of recession
INDUSTRY NEWS NOV 03, 2023
BofA strategist sees year-end equities rally, risk of recession

Wall Street bear Michael Hartnett says technical barriers should not block S&P 500 rally.

What next for crypto as FTX founder is jailed?
INDUSTRY NEWS NOV 03, 2023
What next for crypto as FTX founder is jailed?

Has the fraud eroded trust in digital assets or can the industry rebound?

Capital Group says now is the time to buy global stocks
INDUSTRY NEWS NOV 03, 2023
Capital Group says now is the time to buy global stocks

Fed pause creates a window of opportunity for investors, says $2.3T manager.

Sen. Tim Scott wants to open private markets to more ordinary investors
REGULATION AND LEGISLATION NOV 02, 2023
Sen. Tim Scott wants to open private markets to more ordinary investors

'My suspicion is that if [Scott’s bill] passes, then the number of Main Street investors who are sold an unregistered security will far exceed the number of Main Street investors who actually go looking for such a product,' an advisor says.

SEC keeps up pressure on firms' cash sweep accounts
BROKER DEALERS NOV 02, 2023
SEC keeps up pressure on firms' cash sweep accounts

'Interest rates are coming back, so where you put clients' money in cash is an issue again,' one attorney notes.

Jordan Belfort is back on Wall Street and talking with InvestmentNews
INDUSTRY NEWS NOV 02, 2023
Jordan Belfort is back on Wall Street and talking with InvestmentNews

The former financial fraudster made famous by Leonardo DiCaprio is now promoting index funds and leading the charge against the 'Wall Street fee machine.'

The insurance industry really doesn't like the DOL's proposed rule
RETIREMENT PLANNING NOV 02, 2023
The insurance industry really doesn't like the DOL's proposed rule

Independent agents who sell annuities could be fiduciaries for the first time.

Equities gain as Fed signals potential end to rate hiking
INDUSTRY NEWS NOV 02, 2023
Equities gain as Fed signals potential end to rate hiking

World markets have reacted to Fed chair Jerome Powell's comments.

Gen Z is running out of cash, and that's bad for the economy
INDUSTRY NEWS NOV 02, 2023
Gen Z is running out of cash, and that's bad for the economy

Poll reveals fewer Americans can cover a $400 emergency expense.

Ultra-rich investors are pulling back from $1M+ artworks
INDUSTRY NEWS NOV 02, 2023
Ultra-rich investors are pulling back from $1M+ artworks

The high-end art market is thinning out according to UBS.

Vanguard will shutter China office next year, but it could return
INDUSTRY NEWS NOV 02, 2023
Vanguard will shutter China office next year, but it could return

The firm says it will monitor the market for further opportunities.

World's largest pension fund drops $4.5B in third quarter
INDUSTRY NEWS NOV 02, 2023
World's largest pension fund drops $4.5B in third quarter

GPIF posted the huge loss due to decline for domestic bonds.

Schwab cuts more than 2,000 jobs amid TD integration
INDUSTRY NEWS NOV 01, 2023
Schwab cuts more than 2,000 jobs amid TD integration

The firm is trying to curb costs as it continues to integrate TD Ameritrade.

Tribalism threatens the DOL investment advice rule
RETIREMENT PLANNING NOV 01, 2023
Tribalism threatens the DOL investment advice rule

'The best kind of regulation is when the private sector works with regulators to craft regulation that is efficient, effective, workable and narrowly targeted,' says the architect of the Obama DOL's fiduciary rule.

Real estate firm that raised money through IBDs blows up
ALTERNATIVES NOV 01, 2023
Real estate firm that raised money through IBDs blows up

Bellevue, Washington-based iCap focused on developing apartment buildings and stand-alone real estate.

Alexandra Lebenthal joins Rockefeller
WOMEN ADVISOR COMMUNITY NOV 01, 2023
Alexandra Lebenthal joins Rockefeller

Third-generation Wall Streeter will continue focus on women-led businesses.