For almost a decade, I’ve been listening to digital prophets predict a future where banks save billions of dollars, customers can trace their mangoes back to the organic farm where they were grown, and financial intermediaries are a thing of the past, all thanks to the blockchain. I’ve been waiting for...
Goldman Sachs Group Inc. agreed to pay $5.5 million to settle a U.S. regulator’s allegations that it failed to fully record and retain thousands of phone calls. The Commodity Futures Trading Commission alleged Tuesday that two separate outside systems the Wall Street giant relied on to record some audio conversations, as...
A class-action lawsuit filed in Nebraska federal court accuses TD Ameritrade and parent company Charles Schwab of neglecting their responsibilities to protect customer data. In July, hackers exploited a vulnerability in MOVEit, a file-transfer system, to access sensitive information — including Social Security numbers, financial account information, dates of birth...
Baird announced that a team of three advisors has joined the firm from Zions Wealth Advisors, where they oversaw more than $500 million in assets under management. Greg Aiken, Ben Blake and Jonathon Bult have joined Baird’s wealth management office in Salt Lake City. Aiken and Blake both will serve...
A discussion of the “elephant not in the room,” in the words of one of the moderators of last Wednesday’s Republican presidential candidate debate, didn’t come until about one hour into the jousting. The elephant, of course, was frequently indicted former President Donald Trump. Most of the candidates tiptoed around...
A new wealth management business has launched in San Juan Capistrano, California, led by two advisors who have served approximately $325 million in advisory, brokerage and retirement plan assets. Revel Private Wealth is affiliated with LPL Financial’s supported independence model, LPL Strategic Wealth Service. Founders Megan M. Stirrat, CFP, CDFA, SE-AWMA...
China’s economic outlook is showing no signs of improvement, with forecasters broadly trimming their expectations for growth, prices and trade and predicting more monetary policy easing. Economists now see gross domestic product expanding 5.1% in 2023 from the prior year, according to the median estimate in the latest Bloomberg survey....
A Richard Mille Co. watch is a powerful symbol of wealth for anyone who’s in-the-know enough to recognize its familiar contours. The French company produces only about 5,300 a year, which cost an average of $250,000. Designed to withstand high gravitational forces, they’re worn by athletes at Formula One races, golf...
Financial advisors aren’t always trained to address their clients’ emotional reactions about finances, while therapists aren’t necessarily equipped to discuss the impact of finances on a person’s well-being. Financial psychology acknowledges the inextricable link between the two. The efforts of Sonya Lutter, one of this year’s judges of the InvestmentNews...
Financial advisors Megan Stirrat and Tenley Hardt have left Merrill Lynch to join LPL Financial, where they have launched a new independent practice, Revel Private Wealth. Stirrat and Hardt, who specialize in helping women in transition and those in the sports and entertainment industry, decided to break away from the...