Volume & Velocity When it comes to loans of this kind, another core component of return is the “upfront economics” of the transaction. This is the structuring fee that the lender receives up front for structuring and completing the transaction. Therefore, higher transaction volume leads to more upfront fees passed...
Wells Fargo & Co. is buying the former Neiman Marcus space at Manhattan’s Hudson Yards for roughly $550 million and plans to convert it into offices, according to people with knowledge of the deal. The transaction includes about 400,000 square feet (37,000 square meters) spanning floors five through seven at...
Cetera Financial Holdings senior management is planning a webinar Thursday afternoon with Avantax Inc.’s financial advisors to discuss questions raised by some of the 3,100 advisors in the wake of Cetera’s announcement earlier this month that it’s buying the tax-specialized broker-dealer for $1.2 billion. The advisors have plenty of questions...
By all accounts, the second edition of Future Proof was a complete success. Articles across industry publications and consumer-facing media have praised Advisor Circle and Ritholtz Wealth Management for creating a unique and refreshing event that appeals to a younger, more diverse generation of financial advisors. I wrote something...
Recent market volatility is causing concerned clients to phone their RIAs with worries about whether they will be able to retire as planned. With the largest cohort in American history turning 65 in 2024, a new study shows the calls — and the anxiety — are only going to...
The Financial Industry Regulatory Authority plans to extend its remote inspections program, according to a filing with the Securities and Exchange Commission. In November 2020, Finra introduced a temporary rule to allow for remote inspections of brokerages while much the industry worked from home in response to the coronavirus pandemic....
An Omaha, Nebraska-based team that managed $605 million in client assets at Principal Securities has switched to LPL Financial and will use its broker-dealer, RIA and custodial platforms, the firm announced Wednesday. Pat Ricketts and Mindy Helfrich, who operate as Vintage Financial Group, have worked together since 2012. Ricketts has...
The principal membership organization and trade association for certified financial planners has a new president-elect and treasurer for the coming year. The Financial Planning Association announced Wednesday that its board elected Paul Brahim as 2024 president-elect. Brahim’s one-year term is slated to start Jan. 1. Brahim, managing director and senior...
Carina Diamond has always been interested in what comes next. That’s led Diamond, a former financial advisor, on a journey through the financial services industry, with a career that has spanned banking, a broker-dealer and an RIA. Through much of that, she focused on mentoring, so it may come as little...
Advisers are retiring in droves. Between the pending retirements of Gen Xers and the Baby Boomers’ need for retirement income strategies and estate planning, firms are already stretched thin, and there simply will not be enough advisers to meet the needs of consumers in the future. Many universities, companies and...