Allianz SE reported a third-quarter profit that beat analysts’ estimates as its giant bond manager Pacific Investment Management Co. continued to attract new money. Group operating profit fell 15% to €3.47 billion ($3.7 billion), better than the €3.26 billion analysts had expected. Pimco attracted €10 billion from outside clients in...
There’s been an unwritten rule during the past decade of climate diplomacy: Good things can happen when the world’s two biggest economies are aligned. If the US and China can again come together in the quest to slash greenhouse gas emissions, there’s hope that progress can be made at COP28 in...
Goldman Sachs Group Inc. hired a trio of Credit Suisse private bankers as it builds up its presence in a swath of the Middle East that’s increasingly becoming a destination for the world’s rich. Fahad Alebrahim is joining the Wall Street firm to focus on Kuwait after previously working a Learn more...
AssetMark Financial Holdings hit its sixth consecutive quarter of record-breaking results in the third quarter, and it shows no sign of slowing. The turnkey asset management and technology provider brought in an all-time high total revenue of $190.5 million in the three months ended in September, Learn more about reprints and...
David Chepauskas, a senior wealth planner at Summit Financial in Red Bank, New Jersey, embodies the spirit of service in multiple ways. Early in his life, he felt called to volunteer for the military during the Cold War. After all, it runs in the family. His father was one of...
Legislation that contains several provisions to stop major SEC rule proposals affecting financial advisors stalled in the House Thursday, and the so-called policy riders face a difficult legislative path ahead. The House postponed a final vote on an appropriations bill that would fund the Securities and Exchange Commission and several...
With the market dropping precipitously in 2022, registered investment advisors spent much of last year fighting to hold onto clients and soothe their anxieties. The S&P 500 stock index posted a total return last year of of negative 18% last year, eroding the annual organic growth of client a Learn...
The question of whether gold, oil and other commodities are right for individual client portfolios has always been a hard one for financial advisors to mine. So let’s dig into it. The Invesco DB Commodity Index Tracking Fund is flat year to date as inflation has moderated over the course...
It’s not something people want to think about, but most acknowledge that long-term care should be a part of their retirement planning. The problem isn’t just that they don’t want to think about it — it’s that more than half of people don’t think about it at all, even while...
Bankoh Investment Services Inc., the broker-dealer subsidiary of $23.5 billion Bank of Hawaii, has announced a multiyear secondary clearing arrangement with Attria Wealth Solutions subsidiary Sorrento Pacific Financial. The pass-through arrangement will enable BISI clients to access Clear1, givin Learn more about reprints and licensing for this article.