A cooling job market gives the Federal Reserve room to keep interest rates on hold in December and reinforces market views that the central bank is done with the most aggressive hiking campaign in four decades. Nonfarm payrolls increased 150,000 last month, less than expected, following a downwardly revised 297,000 advance in...
Dakota Wealth Management is to acquire a family-run practice in a deal which adds around $300 million to its AUM, taking it to near $4 billion. The independent investment management firm has agreed to acquire JMG Wealth Management Group, affiliated with Raymond James, which has offices in Mechanicsburg, Pennsylvania and...
LPL Financial has gained a team of five advisors previously with Ameriprise, managing approximately $550 million in client assets. Advisors Paul LaBanc CFP, CRPC, AAMS, AWMA and Donald Grassi CRPC, AAMS, AWMA, first went into partnership in 2001 before founding ViewPoint Wealth Partners. The firm now also includes advisors Michael Kozlowski...
Sam Bankman-Fried was convicted of a massive fraud that led to the collapse of his FTX exchange, following a month-long trial that pitted the testimony of the former crypto king against that of some of his closest friends. Bankman-Fried was found guilty of seven counts of fraud and conspiracy after...
European stocks posted modest gains as traders awaited US jobs numbers due later Friday that will test optimism over whether the Federal Reserve’s tightening cycle is nearing an end. The Stoxx 600 added about 0.2% to its strongest week since March. Automakers fared best, with BMW AG rising after increased...
Technical factors no longer stand in the way of a year-end rally in the S&P 500 index, according to Bank of America Corp.’s Michael Hartnett. The bank’s in-house sentiment gauge, the Bull & Bear Indicator, is flashing a contrarian buy signal for a third straight week amid poor equity market...
Sam Bankman-Fried’s conviction for a huge fraud at the FTX exchange raises a deceptively simple question: what next for crypto? The former billionaire was a vocal champion of the industry but now faces decades in jail, a fall that is emblematic of the boom and bust in the digital-asset market...
Capital Group is seeing an opportunity for investors to load up on global equities after the Federal Reserve held rates on Wednesday, signaling an end to its aggressive tightening cycle.“The really big message for investors is that this moment of central banks peaking is likely to be the opening...
If there is one thing that supporters and opponents agree on about ESG, it might be that there are too many interpretations of its meaning. This week, several groups, including the CFA Institute, gave a list of definitions that they want to be standard across the industry. That includes common...
A leading Senate Republican on financial policy wants to open private-market investing to more people who currently don’t meet the net worth or income thresholds to qualify. Expanding the pool of accredited investors is one plank in a proposal to reform capital markets released Thursday by Sen. Tim Scott, R-S.C....