The Securities and Exchange Commission has fined nine RIAs that advertised hypothetical performance to the public, contrary to the regulator’s Marketing Rule. The firms had not adopted or had not implemented policies and procedures “reasonably designed to ensure that the hypothetical performance is relevant to the likely financial situation and...
The recession question is never far away and there is no consensus on when or how deep it will be. While wealth and asset managers expect a recession in the next year according to a recent poll, a panel of 14 chief economists from some of the largest U.S. banks...
Wealthtender, an independent find-an-advisor website and SEC-compliant online review platform, has announced its acquisition of AGC, an online community for financial advisors. The acquisition will be completed around Oct. 1 and will provide over 450 financial advisors with digital marketing tools and access to a community of peers. According to...
Indexing, data, and research firm VettaFi has announced the enhancement of its solutions for asset managers with the acquisition of custom thematic indexing specialist EQM Indexes, LLC. EQM builds indexes using a quantitative, research-driven approach with indexes including online retail, rare earths & critical materials, blockchain technology, and the global...
Alternative assets remain a key component of the investment decisions of limited partners according to a new survey. Almost all (93%) of respondents said they plan to either maintain or increase their allocations to alts in the next 12 months, with more than half falling in the ‘increase’ group with...
Two wealth managers who managed $260 million at Wells Fargo Advisors have joined Kingsview Partners to open a new office in Roseville, Minnesota. Sally Oradei and John Hanselman have a combined 50 years of industry experience and say they were attracted to their new firm by its unwavering commitment to...
The Independent Advisor Alliance has hired two new executives to strengthen its senior management team ahead of a new growth phase. The North Carolina based firm that provides its network of independent financial advisors with solutions and support services to help them boost their business has hired leaders focused on...
The global exchange-traded funds market was worth $7.3 trillion at the end of the second quarter of 2023, a rise of 5.8% from the previous quarter thanks to inflows of $136.6 billion and market appreciation worth $265 billion. Inflows included $89 billion to equity strategies, $45.9 billion to fixed income,...
Another new wealth management firm has been born in Houston, Texas, as financial advisors Ed Winegar and Gregory Berg, CPWA, CPFA, CRPC TM, CKA, launch their own firm with LPL Financial’s employee advisor channel. The duo was previously with Merrill Lynch where they served approximately $205 million in advisory, brokerage...
The investment industry is being reshaped by several factors which can leave industry professionals feeling uncertain of how they can keep up with the developing trends. But a new report from the CFA Institute aims to help along with the establishment of a new center focused on addressing the most...