The Securities and Exchange Commission recently updated rules that govern how investment fund names must match how the fund is actually invested. It may sound obvious, but for years investors in mutual funds and ETFs have been investing in products whose actual portfolio holdings can stray dramatically from what...
Like much of the football-loving public, I’ve been fascinated by the recent turn of events at Colorado University, Boulder, especially since it deals with something so critical for financial advisors. A year ago, I couldn’t have told you the first thing about CU Boulder’s football program, but that all changed...
The system that millions of Americans rely on for their retirement income is only slightly above average and may require reform. That’s according to the Mercer CFA Institute Global Pension Index which looks at 47 of the world’s retirement income systems to identify weaknesses and suggest ways to make them...
A pair of financial advisors is launching a new independent practice with LPL Strategic Wealth Services, having managed around $265 million at RBC. Trevor Johnson and Brian Russo have joined LPL’s supported independence model to start Steeplechase Capital Partners with offices in Newtown Square, Pennsylvania, and Windham, New Hampshire. The duo...
A North Carolina financial advisor has switched to Raymond James Financial Services from Edward Jones where he managed almost $140 million in client assets. Jonathan “J.D.” Swart, CPA, CRPC, and his firm Swart Financial Partners is headquartered in Wilmington and also includes senior client service associate Amanda Schedler. Swart was with...
Citadel Securities and a trade group sued the Securities and Exchange Commission on Tuesday over changes the regulator is making to how trading data are reported and paid for in the markets. Ken Griffin’s market-making firm and the American Securities Association petitioned the 11th US Circuit Court of Appeals in...
Any potential equity market rally is at risk if geopolitical uncertainty escalates further, according to Goldman Sachs Group Inc. Their outlook comes as an extension in the Israel-Hamas conflict threatens to hit the supply of oil and crimp appetite for risky assets. At the same time, investors remain concerned about...
Gold jumped to the highest level in four weeks as the intensifying conflict in the Middle East bolstered haven demand, with hopes for a diplomatic resolution deteriorating after a deadly explosion in Gaza. US President Joe Biden’s visit to Israel and Jordan scheduled for Wednesday began to unravel even before he left the ground,...
Health insurance premiums jumped this year amid a post-pandemic spike in costs of care, adding to the burden on employers and workers as inflation erodes broader buying power. The average employer-sponsored health insurance premium for U.S. families rose 7% to almost $24,000 this year, according to an annual KFF survey...
UBS Group AG and two major Chinese lenders have been drawn into one of Singapore’s largest money laundering cases, as a police affidavit showed that an alleged fugitive involved had stashed millions at the banks. Wang Dehai, who is also wanted in China for illegal online gambling activities, kept HK$53...