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Worried about the job market? It's time to build emergency savings
INDUSTRY NEWS AUG 12, 2024
Worried about the job market? It's time to build emergency savings

While a healthcare worker might not spend very long being unemployed, the same might not be the case for a tech worker, and there is a case for up to 18 months' of savings.

Downside protected ETF battle continues to heat up
INDUSTRY NEWS AUG 12, 2024
Downside protected ETF battle continues to heat up

Convertible bond specialist Calamos has big plans for its new line of buffer ETFs.

Cadaret Grant, LPL's fresh B-D purchase, to pay $6M+ over revenue sharing conflicts
REGULATION AND LEGISLATION AUG 12, 2024
Cadaret Grant, LPL's fresh B-D purchase, to pay $6M+ over revenue sharing conflicts

The Atria subsidiary failed to disclose conflicted payments and mutual fund transaction markups to clients for nearly five years, according to the SEC.

Riley chief tells advisors he's "not naive" to franchise deal fallout
BROKER DEALERS AUG 12, 2024
Riley chief tells advisors he's "not naive" to franchise deal fallout

It's unusual for brokerage chiefs or senior officers to admit any shortcomings in their operations.

Citi to sell off wealth unit’s trust administration services
INDUSTRY NEWS AUG 12, 2024
Citi to sell off wealth unit’s trust administration services

The banking giant’s decision comes shortly after news that a key member of its leadership is leaving after just four months.

Macro uncertainty, muted earnings outlook to weigh on stocks, warns Morgan Stanley strategist
INDUSTRY NEWS AUG 12, 2024
Macro uncertainty, muted earnings outlook to weigh on stocks, warns Morgan Stanley strategist

S&P 500 seen to stay range-bound as seasonal weakness and Fed fears start to creep in.

LPL kicks off biggest-ever conference at Focus 2024
INDUSTRY NEWS AUG 12, 2024
LPL kicks off biggest-ever conference at Focus 2024

The three-day agenda for the San Diego event includes a brand-new visual identity, 200 breakout sessions, and discussions around AI and cybersecurity.

American borrowers leaning on cards as wait for rate cuts continues
INDUSTRY NEWS AUG 12, 2024
American borrowers leaning on cards as wait for rate cuts continues

But those with lower credit ratings may find credit harder to get.

Boomerang kids could ease household budgets, assuming they pay their share
INDUSTRY NEWS AUG 12, 2024
Boomerang kids could ease household budgets, assuming they pay their share

Adult children returning home brings multiple financial challenges.

CPI stats unlikely to derail Fed rate cut in September
INDUSTRY NEWS AUG 12, 2024
CPI stats unlikely to derail Fed rate cut in September

Small rise in US inflation data expected this week.

Bonds back in favor as a hedge as inverse relationship returns
INDUSTRY NEWS AUG 12, 2024
Bonds back in favor as a hedge as inverse relationship returns

Fixed income is helping offset dips for equities, at least for now.

Foreign investors in record retreat from China stocks
INDUSTRY NEWS AUG 12, 2024
Foreign investors in record retreat from China stocks

Concern about world's second largest economy heightened.

Olympic gold medals worth more than ever
INDUSTRY NEWS AUG 12, 2024
Olympic gold medals worth more than ever

But winning athletes are often gifted more valuable items.

Washington RIA takes $430k penalty over misleading advertisements
REGULATION AND LEGISLATION AUG 09, 2024
Washington RIA takes $430k penalty over misleading advertisements

The SEC said Bellevue, Washington-based firm flouted the regulator’s marketing rule when it touted certain performance figures.

BofA Private Bank taps ex-Citi leader to head Miami growth
INDUSTRY NEWS AUG 09, 2024
BofA Private Bank taps ex-Citi leader to head Miami growth

The firm’s latest hire will bring 25 years of experience with hedge funds and family offices as part of a strategic push in South Florida.

How to overcome ESG challenges when using offshore trusts
INDUSTRY NEWS AUG 09, 2024
How to overcome ESG challenges when using offshore trusts

Offshore trusts are often a useful tool for estate planning, but can be less conducive for ESG investing.

Trump presidency could put Fed independence at risk, warns BlackRock strategist
INDUSTRY NEWS AUG 09, 2024
Trump presidency could put Fed independence at risk, warns BlackRock strategist

Treasury bond yields could climb as markets weigh the potential of a less free-thinking central bank, experts argue.

JPMorgan is joining Wall Street’s AI productivity war
INDUSTRY NEWS AUG 09, 2024
JPMorgan is joining Wall Street’s AI productivity war

The financial services titan has rolled out an AI assistant to thousands of employees, but it’s still exercising caution, according to one C-suite leader.

Economists expect Fed to ignore jumbo rate cut calls
INDUSTRY NEWS AUG 09, 2024
Economists expect Fed to ignore jumbo rate cut calls

The recent weak jobs data and market meltdown aren't enough to merit more than a quarter-point move, survey shows.

Two-fifths of advisors want to confer with investment specialists
INDUSTRY NEWS AUG 09, 2024
Two-fifths of advisors want to confer with investment specialists

Survey suggests asset managers should send out ETF and alternative specialists – but their lack of business savvy poses a challenge.