BMO Financial has announced some leadership changes within its Capital Markets and Investment & Corporate Banking groups. The catalyst is the retirement of long-time CEO and group head of the Capital Markets business, Dan Barclay, who will step down from the role at the end of this month but will...
The forces underlying the Treasury debt market are extremely adverse as the US is on an unsustainable fiscal path, a senior International Monetary Fund official said. “US deficits are elevated and they’re projected to be persistent,” said Vitor Gaspar, director of the IMF’s Fiscal Affairs Department. “Under unchanged policies, debt...
Stock markets that have refused to buckle under the highest yields since 2007 face a new test. Third-quarter results will shine a light on how much those rates are already hitting profits — and what they’ll do to lofty equity valuations. As the earnings season kicks off, corporate managers will likely be...
Emerging-market stocks just crossed another grim milestone: They’ve tumbled to the lowest level in 36 years relative to US equities. MSCI Inc’s benchmark for developing-nation equities slipped to begin the week as Israel’s retaliation against attacks by Hamas sparked fears of a broader conflict between the US and Iran. That took...
The October 2023 edition of the latest in financial #AdvisorTech kicks off with the news that custodial platform Altruist is eliminating the $1-per-account monthly fee for its portfolio management and reporting technology for advisors on its platform. On one hand, that suggests that the economies of scale Altruist has...
Reports of the demise of excess U.S. household savings were greatly exaggerated. Revised government data indicate that Americans have hundreds of billions of dollars more in extra cash stashed away than previously believed. “It definitely raises the prospects of a soft landing pretty significantly,” Citigroup Inc. senior global economist Robert...
A team that oversaw $900 million in client assets at RBC Wealth Management has affiliated with LPL Financial’s LPL Strategic Wealth Services, the firm said. The four advisors are launching Sides Wealth Advisory Group in York, Pennsylvania. The practice was founded in 1987 by Scott Sides and the team plans to...
Authenticity is one character trait that is driving women toward success, especially in the wealth management industry. So why is it important? “When you are clear about your authenticity, it inspires trust because you are drawing in and aligning yourself with clients that also share your value,” said Tiffany Soricelli,...
When you ask Seth Streeter what he likes about the financial advice industry, he talks about what he loves. “I love that we operate from a place of caring,” Streeter said. “In finance, it’s such a head-based industry, and we try to be more heart-based. And so that’s how we...
“It’s much more fun to give while you are alive than to give when you are dead,” said Chuck Feeney, one of America’s most prolific philanthropists. The multi-billionaire entrepreneur who made his fortune as co-founder of the Duty Free Shoppers Group and pledged to give away all but $2 million...