Park Avenue Capital announced a new president and chief operating officer Monday morning. Effective Jan. 1, Daniel McCoy will focus on operations, employment development, strategy, and execution at the firm, which is part of Northwestern Mutual’s exclusive Private Client Group, an elite team of advisors and firms focusing on the...
When it comes to managing family wealth, conversations between generations is generally considered a positive step, but not always. Discussing potential inheritance and planning how and when that should happen can help prepare heirs and avoid misunderstandings, with advisors seeing better outcomes for those that do, but a new study...
Any year-end rally in stocks could prove short-lived because equities don’t fully reflect the outlook for rates remaining higher for longer, according to Jean Boivin, who heads the research arm at BlackRock Inc. Treasury yields have climbed to multi-year highs as investors prepare for an extended period of tightened Federal...
Hedge funds extended short positions on Treasuries to a record just before smaller-than-expected US bond sales and weaker jobs data spurred a rally. Leveraged funds ramped up net short Treasury futures positions to the most in data going back to 2006, according to an aggregate of the latest Commodity Futures Trading...
Bankers servicing one of the world’s biggest ESG debt markets are now actively seeking legal protections to guard against the potential greenwashing allegations that may be ahead. In the handful of years they’ve existed, sustainability-linked loans have mushroomed into a $1.5 trillion market. SLLs let borrowers and lenders say that a loan...
Raymond James Financial Inc. this week said that the president of its independent contractor division, Jodi Perry, has been promoted to the newly created role of national head of advisor recruiting. She officially starts her new position Jan. 1, according to a statement from the company. Shannon Reid,...
Dakota Wealth Management is to acquire a family-run practice in a deal which adds around $300 million to its AUM, taking it to near $4 billion. The independent investment management firm has agreed to acquire JMG Wealth Management Group, affiliated with Raymond James, which has offices in Mechanicsburg, Pennsylvania and...
LPL Financial has gained a team of five advisors previously with Ameriprise, managing approximately $550 million in client assets. Advisors Paul LaBanc CFP, CRPC, AAMS, AWMA and Donald Grassi CRPC, AAMS, AWMA, first went into partnership in 2001 before founding ViewPoint Wealth Partners. The firm now also includes advisors Michael Kozlowski...
Sam Bankman-Fried was convicted of a massive fraud that led to the collapse of his FTX exchange, following a month-long trial that pitted the testimony of the former crypto king against that of some of his closest friends. Bankman-Fried was found guilty of seven counts of fraud and conspiracy after...
European stocks posted modest gains as traders awaited US jobs numbers due later Friday that will test optimism over whether the Federal Reserve’s tightening cycle is nearing an end. The Stoxx 600 added about 0.2% to its strongest week since March. Automakers fared best, with BMW AG rising after increased...