Less than 10% of financial advisors in the U.S. are from Hispanic backgrounds, according to estimates, but what can the industry do to change the stats? It’s Hispanic Heritage Month and InvestmentNews asked Lorenzo Esparza, co-founder of Manhattan West in Los Angeles, to share his insights into the challenges and...
Wall Street analysts are boosting US earnings forecasts even before results start rolling in, signaling that the worst of the profit slump is likely over as ebbing inflation eases the pressure on a broad swath of industries. That’s pushed an indicator known as earnings-revision momentum — a gauge of upward-to-downward...
Federal Reserve Bank of Boston President Susan Collins said officials are taking a more patient approach to monetary policy now that rates are at or near their peak, though further rate increases are still possible. US central bankers can take more time to evaluate incoming economic data because they “are...
A Democrat on the US Securities and Exchange Commission is warning that syndicated loans sold widely to investors are stoking risks to the broader financial system. Regulators should consider whether additional investor protections are needed for the fast-growing market, Caroline Crenshaw, an SEC commissioner, said in a speech Wednesday. She...
Stagnant deal activity, easing volatility and peaking interest rates are set to compound pressure on bank earnings, according to Barclays Plc’s chief executive officer. Despite tentative signs of activity returning at the start of September, C.S. Venkatakrishnan said on Bloomberg’s In the City podcast that a dealmaking revival is still looking “a little further...
Hillhouse, the investment firm started with backing from Yale University’s endowment, is preparing to pitch a new Asia-focused private credit fund to international investors as the asset class continues to grow in the region. Hillhouse, which has traditionally focused on public and private equity, has set up a private credit...
The SEC ordered a Delaware investment advisory firm to pay $1.3 million to settle charges that it placed clients in expensive mutual fund share classes without disclosing related conflicts of interest. In an order posted Tuesday, the Securities and Exchange Commission said Wilmington Trust Investment Management offered a wrap program...
Getting John Beatson to pick stocks for you used to require a cool $25 million or thereabouts. Thanks to the newest trend in money management, these days it’s more like $25. That’s roughly the price of a share in the Bushido Capital US Equity ETF (SMRI), an actively managed equity...
While 3,100 Avantax Inc. financial advisors likely to get slim bonuses or none at all once the sale of the firm to Cetera Holdings is complete, the chief executive of Avantax, Christopher Walters, could walk away with a golden parachute worth $21.6 million, according to a filing with the...
A new study shows Gen Z workers are itching to retire at age 61. If that’s the case, they have a lot of hurdles to clear. According to Charles Schwab’s annual nationwide survey of 401(k) plan participants released Thursday, Gen Z employees, or those who are 21 to 26 years...