UBS Wealth Management USA recently welcomed The Keating Group, a four-member advisory team that had been affiliated with Merrill Lynch, to its ranks. The team, comprised of Maureen Keating, Michael DeCorleto, and Matthew Marques as financial advisors, and Matthew Mardirosian as wealth management associate, brings with them an impressive management...
A 26-year-old firm from the small town of Uncasville, Connecticut, has joined LPL Financial’s broker-dealer, RIA and custodial platforms, having grown a $220 million AUM practice. Michael Doherty Jr. founded Doherty Financial Services in 1997 and has always put family at the heart of the busine Learn more about reprints and...
In a high-stakes legal battle, Walid Chammah, the former chairman of Morgan Stanley, has initiated High Court proceedings against the Austrian investment firm Signa, owned by Rene Benko. The case, revealed by The Telegraph, centers on an alleged unpaid sum of €14m ($15.29m) in fees. Ch Learn more about reprints and licensing...
The dollar extended a decline, with a gauge of greenback strength hitting its lowest level since August, amid speculation the Federal Reserve is nearing the end of its rate-hike cycle. Traders are currently pricing in about a 30% chance of a first Fed rate cut in March following cool inflation...
The upcoming closures of two of JPMorgan’s socially conscious exchange-traded funds are shining a spotlight on the vanishing appetite for environmental, social and governance products. An unprecedented $7.7 billion has left do-good ETFs this year following 10 straight years of inflows, Bloomberg Intelligence data show. Issuers have shut down a...
At first blush, a record $100 billion flood into actively managed exchange-traded funds this year raises a tantalizing prospect: A revival of stock picking even as only Big Tech names outperform the market. Yet a look under the hood of popular ETFs shows the boom is almost entirely taking...
It’s the season when people keep on giving, and financial planning organizations are asking advisors to talk to their clients about contributing to donor-advised funds. “One of the main reasons for the popularity of DAFs is just the simplicity in being able to create a donor-advised fund to have that...
Bullish or bearish? It depends on who you ask according to two sentiment surveys released this week. The first, the quarterly Charles Schwab Trader Sentiment Survey, found that bearishness on the U.S. stock market has increased to 53% in the fourth quarter of 2023 compared to 35% in the previous...
One of the pioneers of robo-advisors has reached a significant new milestone and expects continued exponential growth. Wealthfront now oversees more than $50 billion for more than 700,000 clients, mostly U.S.-based professionals and the firm is expecting revenue growth of 140% for 2023. It’s al Learn more about reprints and licensing...
Stocks advanced and bond yields dropped as fresh signs of an economic slowdown prompted investors to ramp up bets on interest-rate cuts next year. Europe’s Stoxx 600 index rose 0.9%, on track for a 2.7% rally this week, and US futures climbed. Bonds added to Thursday’s gains, with markets now...