Bonus season on Wall Street is looking grim for bankers in an industry hobbled by rising interest rates, bank failures and a dealmaking slump. Next year will probably be no better. Merger advisers could see their payouts for 2023 slide as much as 25%, according to a report Tuesday from...
Aaron Klein is stepping down as chief executive at fintech Nitrogen and will be succeeded by Dan Zitting, former president of Galvanize. Nitrogen was founded in 2011 as Riskalyze, which provided advisors with a digital questionnaire that assesses clients’ risk tolerance and calculates their Risk Number. The company rebranded as...
The November 2023 edition of the latest in financial #AdvisorTech kicks off with the news that Practice Intel has launched a new “growth platform” centered around quantifying the quality of an advisor’s client relationships with an all-in Relationship Quality Index, which while potentially valuable in helping advisors understand and...
More than three quarters of U.S. institutional investors are expecting interest rates and inflation to remain elevated for at least the next 12 months, putting fixed income investments in pole position to generate the best returns in 2024. A new report from CoreData also reveals that these organizations are tiring...
Snowden Lane Partners has added a $230 million advisor to its list of seven recruitments for 2023, which have given the hybrid RIA firm a $1 billion boost in AUM. Former Merrill Lynch vice president and wealth advisor William H. “Trey” Jones III is the latest to join the firm...
Global oil markets won’t be as tight as expected this quarter, as upward revisions to demand are outpaced by upgrades to supplies, the International Energy Agency said. The IEA boosted forecasts for world fuel consumption this year on surprising strength in China, and still anticipates a supply shortfall during the...
Global investment houses are bracing for more failed trades as a result of plans to halve the time it takes to settle American stock transactions to just one day. Around 60% of asset managers fear a higher rate of settlement failures will be the consequence of regulations coming into force in May...
by Kendra Pierre-Louis, Eric Roston and Zahra Hirji The floods, heat waves, storms and fires fed by global warming are getting worse across the US and will pose increasing danger to Americans unless greenhouse gas emissions are cut sharply and swiftly. The tools to do that are available today and are being adopted...
A father-son team of advisors who had managed $180 million in assets at Ameriprise Financial has joined LPL Financial’s employee advisor channel, Linsco by LPL Financial, the firm announced Monday. Anthony S. Zambri and his son, Anthony V. Zambri, are launching Zambri Financial in Melville, New York. They’ll be the...
Several advisors recently spoke about what it takes to lead a purposeful business and how amplifying their impact provides a strong advantage to their firm. As it turns out, there are lots of ways to do so. “When purpose is a key driver and not just profits, the focus shifts from...