In an aerial view, the Valero Houston refinery is seen on August 28, 2023 in Houston, Texas.Brandon Bell | Getty ImagesCheck out the companies making headlines in midday trading.Oil stocks — Petroleum refiners Valero Energy and Marathon Petroleum gained 1.5% and 1.2%, respectively, as West Texas Intermediate and Brent...
A father-and-son team of advisors who managed about $1.2 billion in assets at Morgan Stanley has joined LPL Financial’s model for supported independence, LPL Strategic Wealth Services. Burke Francis and Christopher Francis will operate as The Francis Group at LPL in the Los Angeles area. Burke Francis has been building...
U.S. homebuilders are feeling pessimistic about their business for the first time in seven months, thanks to stubbornly high mortgage rates.Builder confidence in the single-family housing market fell 5 points in September to 45 on the National Association of Home Builders/Wells Fargo Housing Market Index. The decrease follows a...
Commonwealth Financial Networks announced Monday that R&R Wealth Management, a firm that managed nearly $223 million in assets under advisement at Avantax Investment Services, has affiliated with Commonwealth’s network of independent advisors. Waukesha, Wisconsin-based R&R Wealth is headed by Robert Holton and Tom Driscoll, both vice presidents of wealth management...
Two former Wells Fargo Advisors have jumped ship to join joined Raymond James Financial Services, the the firm’s independent advisor channel. Based in Massapequa Park, New York, Scott T. Mulford and Melissa Minikes previously managed over $170 million in client assets while at Wells Fargo. The pair are joined by...
Over 200 people are expected to lose their jobs at Amsterdam-based Sustainalytics, the company announced. The decision comes after Chicago-based Morningstar said in June it would move to align Sustainalytics more closely with its Indexes businesses. According to its website, the ESG service provider arm Sustainalytics employs over 1,800 people,...
Shannon Stapleton | ReutersMorgan Stanley has officially kicked off the generative AI era on Wall Street.The bank plans to announce Monday that the assistant it created with OpenAI's latest generative AI software is "fully live" for all financial advisors and their support staff, according to a memo obtained by...
