US equity futures rose as investors awaited earnings from Nvidia Corp., the chipmaker at the heart of the hype around artificial intelligence. Europe led a rally in global bonds as signs of a quickening downturn in the euro area prompted traders to trim interest-rate hike bets. Services activity shrank for...
Gold isn’t losing its allure, according to a dozen money managers who all told Bloomberg News they expect to maintain or raise their exposure to the precious metal in the coming 12 months. Bullion has stumbled in recent weeks in the face of multiple headwinds from surging real yields to...
A rapid tourism recovery in Japan, bolstered by the return of Chinese visitors, and the highest level of inflation in four decades are fueling a boom in hotel investment in the island nation. Foreign investors, including Goldman Sachs Group Inc., KKR & Co., Blackstone Inc., have spent a combined $2 billion...
Through successful fundraising, acquisitions and a marketing campaign to lure financial advisors put off by the pending Charles Schwab-TD Ameritrade mega-merger, Altruist has established itself as a significant player on the asset custody market with ambitions to grow even larger. But it may have to do so under a new...
With Goldman Sachs considering jettisoning the registered investment advisor business it bought just four years ago, two giant broker-dealer networks, LPL Financial and the recently rechristened Osaic, make intriguing potential buyers, one industry analyst said. In 2019, Goldman acquired United Capital for $750 million and then renamed it Personal...
A rewarding professional life begins when you operate at the intersection where all your individual talents and skills, your passions and what the marketplace values most, come to meet. When you occupy this zone, you can achieve remarkable results and never face burnout. We’ve all heard the advice given to...
Asset managers are looking to grow distribution, but many of the old ways of reaching new markets aren’t working anymore, or simply don’t generate sufficient return on investment. Growing third-party distribution is the No. 1 objective for asset managers currently, with a recent Cerulli survey reporting that more than four...
Raymond James announced Tuesday that advisor Burdette Park, who managed about $300 million in client assets at Merrill Lynch, is joining the firm’s employee advisor channel, Raymond James & Associates. Park and a staffer, Heather Jones, will operate as Burdette Park | Raymond James in Louisville, Kentucky. The firm focuses on...
LPL Financial said Tuesday that Matthew Holbrook, a California advisor who had overseen about $385 million in client assets at UnionBanc Investment Services, has affiliated with its employee advisor channel, Linsco by LPL Financial. Holbrook is launching Coastline Wealth Advisory of LPL Financial in Irvine, California. According to his BrokerCheck report,...
A team of 16 advisors and 12 support staff are changing their affiliation to build on the substantial growth they have enjoyed over the past 14 years. Watermark Wealth Management has offices in Scottsdale, Chandler and Payson, Arizona, and Minneapolis, Minnesota, and was founded in 2009 during the financial crisis...