JPMorgan Chase & Co. has appointed global co-heads of mergers and acquisitions for its team catering to large private equity firms and other financial investors. Haidee Lee and Carsten Woehrn will co-lead M&A for the bank’s strategic investor group, according to an internal memo seen by Bloomberg News. The group,...
New standards for the global carbon offsets market threaten to wipe out “a lot” of value for investors, according to Lombard Odier. In an attempt to improve the quality of the $1.3 billion market for offsets, the Integrity Council for the Voluntary Carbon Market’s new guidelines require projects to include 40 years of emissions...
The SEC stepped up the number of enforcement actions it took in the most recent fiscal year, while the total amount of money ordered from securities laws violators dipped, according to statistics the agency’s leader released Wednesday. The Securities and Exchange Commission filed more than 780 actions in fiscal 2023,...
Now that the merger of the Charles Schwab Corp. and TD Ameritrade Holding Corp. is in the rearview mirror, Schwab is throwing more technology at the thousands of registered investment advisors who use the firm to custody close to $4 trillion in client assets. Over Labor Day weekend, 3.6...
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Looking back to when he started out, Sam Huszczo, founder of registered independent advisor SGH Wealth Management, said his ignorance was something of a superpower. His first job as a naïve 24-year-old two decades ago was at a commission-based firm where he was thrown, headfirst, into the race for clients....
A mother-son pair of financial advisors that managed $175 million in client assets at Cetera Advisor Networks has joined Equitable Holdings Inc., the firm announced Wednesday. Tamara Kukainis and Daniel Kukainis operate Schwartz Financial Services in Marlton, New Jersey, a firm founded by Tamara’s father, Julian Schwartz, in 1958, and...
Led by record demand for registered index-linked annuities, total third-quarter annuity sales rose 11% year over year to $89.4 billion, according to preliminary results from Limra’s U.S. Individual Annuity Sales Survey. Limra said RILA sales hit a new record in the third quarter of $12.6 billion, up 19% from the...
My first experience with fee-based asset management was in the 1990s with an investment program that practiced “active asset allocation.” I sold it to nearly all my clients and it was a disaster. The investment program had some cool sales tools that would analyze the performance of different mutual funds...
Catherine Seeber says it’s a great time to be a financial advisor. “It’s the best job ever. I feel like I’m living my best life,” she said. “I get to help people and help them live their best life. It’s not all about the money. It’s not all about the...