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AssetMark taps industry veteran Lou Maiuri in new growth chapter
FINTECH SEP 05, 2024
AssetMark taps industry veteran Lou Maiuri in new growth chapter

After the completion of its $2.7B take-private deal with GTCR, the fintech firm is looking forward to a new era of strategic expansion helmed by the former State Street leader.

SEC rules will make Treasuries market safer, but may cut trading volumes as costs rise
INDUSTRY NEWS SEP 05, 2024
SEC rules will make Treasuries market safer, but may cut trading volumes as costs rise

Market participants give view on fast-approaching mandatory central clearing.

What does it actually feel like to be wealthy? Millionaires says its not about being rich
INDUSTRY NEWS SEP 05, 2024
What does it actually feel like to be wealthy? Millionaires says its not about being rich

Study shows that having money is only part of financial security.

Stocks steady as all eyes are on US jobs data
INDUSTRY NEWS SEP 05, 2024
Stocks steady as all eyes are on US jobs data

Friday's stats will help inform Fed's upcoming rates decision.

OPEC+ set to postpone oil supply hike as prices slide
INDUSTRY NEWS SEP 05, 2024
OPEC+ set to postpone oil supply hike as prices slide

Cartel was due to increase output in October.

BofA's investment in e-trading for bonds is paying off
INDUSTRY NEWS SEP 05, 2024
BofA's investment in e-trading for bonds is paying off

Wall Street bank is seeing strong trading volumes in Europe.

Morgan Stanley pulls back on plastic pollution targets
INDUSTRY NEWS SEP 05, 2024
Morgan Stanley pulls back on plastic pollution targets

Bank no longer has a specific goal for this area of sustainable financing.

Banks are ceding their wealth funnel advantage, says Cerulli
PRACTICE MANAGEMENT SEP 04, 2024
Banks are ceding their wealth funnel advantage, says Cerulli

A growing gap between clients' use of traditional deposit accounts and wealth management services hints at an untapped opportunity.

Post CEO role, 'Omani' Carson talks psychedelics and sustainability
RIAS SEP 04, 2024
Post CEO role, 'Omani' Carson talks psychedelics and sustainability

Ron Carson, who goes by Omani outside of financial services, is holding spiritual retreats and wants to build an intentional community called "Omya." He also recently became part owner of a soccer team.

SEC's battle for hedge fund fee transparency dies in Supreme Court
ALTERNATIVES SEP 04, 2024
SEC's battle for hedge fund fee transparency dies in Supreme Court

The federal securities regulator earns praise from industry groups as its legal battle for private fund disclosure requirements comes to an end.

Barred B-D owner back in hot water with SEC in alleged healthcare fraud
BROKER DEALERS SEP 04, 2024
Barred B-D owner back in hot water with SEC in alleged healthcare fraud

"These types of brokers and executives are the scourge of the industry," said one plaintiff's attorney.

Cetera expands in Texas with veteran husband-wife duo
RIAS SEP 04, 2024
Cetera expands in Texas with veteran husband-wife duo

Leading a seven-person team, the advisor couple with 60 years of combined experience provide comprehensive planning for roughly 500 clients in Houston.

LPL seals deal for $9B hybrid RIA
BROKER DEALERS SEP 04, 2024
LPL seals deal for $9B hybrid RIA

The definitive agreement to acquire The Investment Center, based in New Jersey, will add 240 financial advisors into LPL's network.

Bluespring taps M&A veteran Jayaraman as its new president
RIAS SEP 04, 2024
Bluespring taps M&A veteran Jayaraman as its new president

The veteran closer and leader is expected to drive further growth as he brings a record of dealmaking success from Focus and Goldman Sachs.

The ultra-rich will control $9.5T by 2030, says Deloitte
INDUSTRY NEWS SEP 04, 2024
The ultra-rich will control $9.5T by 2030, says Deloitte

The consultancy's bullish forecast, driven by an acceleration in family offices, predicts a 73 percent jump in UHNW wealth in the coming years.

Sound Income Group sharpens brand focus with relaunched coaching division
RIAS SEP 04, 2024
Sound Income Group sharpens brand focus with relaunched coaching division

The diversified financial services company in Florida is reaffirming its focus on income with a rebrand of its consulting and marketing arm for independent annuity producers.

Wisconsin advisor to serve 4.5 years for $1.8M con
REGULATION AND LEGISLATION SEP 04, 2024
Wisconsin advisor to serve 4.5 years for $1.8M con

The advisor lied to unsuspecting clients, including vulnerable retirees, for over 20 years to fund his gambling, cars, collectibles and other personal expenses.

Clearlake Capital to expand private credit capabilities with $5.1B AUM acquisition
INDUSTRY NEWS SEP 04, 2024
Clearlake Capital to expand private credit capabilities with $5.1B AUM acquisition

US firm's transaction expected to close by the end of 2024.

Wealthtech solutions market set for $6B growth from blockchain, AI
INDUSTRY NEWS SEP 04, 2024
Wealthtech solutions market set for $6B growth from blockchain, AI

Transformational impact on financial services will fuel increase through 2028.

Global stocks slide as investors shun big tech
INDUSTRY NEWS SEP 04, 2024
Global stocks slide as investors shun big tech

US economy is also high on the agenda amid growth fears.