A reported dip in engagement with financial advisors by diverse Americans in 2022 appears to be reversing. Last year Allianz Life reported that just 24% of Black investors and 35% of Hispanic investors had a professional financial advisor, dropping from 38% and 44% respectively in 2021. However, new stats for 2023...
Wells Fargo is making it easier – and cheaper – for DIY investors to buy their favourite company. You can now buy pieces of the most traded equities – up to 500 – by investing as little as $10 through the Wells Fargo Mobile® app. Wells Fargo Wealth & Investment Management...
Anne Crabbe, has rejoined Cetera Wealth Partners from Park Avenue Securities, it was announced Thursday. Crabbe joins Cetera with over 16 years of experience, helping families manage and plan their finances, achieve goals for retirement and investments. She also managed more than $102 million in assets under administration as of...
With Apple having unveiled its latest product range this week, a new report reveals how some Americans may put buying the iPhone 15 ahead of their bills. LendingTree’s research found that while most people said it’s important to have the latest tech, for 3 in 10 it’s so vital that...
China’s central bank ramped up efforts to accelerate an economic recovery, releasing more cash into markets as data show fresh encouraging signs for the country’s growth momentum. The People’s Bank of China added a net 191 billion yuan ($26.3 billion) into the financial system via a one-year policy loan...
BlackRock Inc.’s Edwin Conway says big money clients are snapping up private investments for their portfolios. Institutional clients are allocating anywhere from 20% to 50% of their portfolios to private markets, the global head of equity private markets told Bloomberg Television Thursday. Interest on the wealth side is “still in...
Maintaining interest rates at 4% for a prolonged period may be sufficient to tame inflation, two European Central Bank officials said a day after borrowing costs were raised for what markets and economists think was the last time. “We believe that with the latest increase the level of interest rates,...
Chimera Investment LLC, part of a business empire overseen by Abu Dhabi’s Sheikh Tahnoon bin Zayed Al Nahyan, set up a $50 billion fund, adding to the plethora of sovereign and state-linked funds in the oil-rich emirate. Lunate, which will start operations later this year, will manage the funds of...
Members of the United Auto Workers union hold a rally and practice picket near a Stellantis plant in Detroit, Aug. 23, 2023.Michael Wayland / CNBCDETROIT – The United Auto Workers union plans to strike three U.S. assembly plants of General Motors, Ford Motor and Stellantis, UAW President Shawn Fain...
State securities regulators continue to resist Finra’s efforts to allow brokerages to conduct online supervision of branch offices. The state regulators’ organization, the North American Securities Administrators Association, has been a consistent opponent of the Financial Industry Regulatory Authority’s proposal to establish a voluntary three-year pilot program for remote inspections. The...