The savage sell-off that hit Treasuries in prior months was driven by concerns a buyers’ strike had hit the $26 trillion bond market. It’s now confirmed: at least one set of investors headed for the exits back in September. Foreign investors sold $1.7 billion more worth of Treasuries than they...
Contributions to retirement plans fell last year following record contribution rates from participants and employers in 2021, according to a survey of 401(k) plans released Thursday by the Plan Sponsor Council of America. Despite slipping contribution rates, however, the study showed that participation remains strong, even if down from record...
The U.S. government overrode industry objections and approved a plan to saddle the biggest banks with much of the tab for refilling the nation’s bedrock deposit-insurance fund. The Federal Deposit Insurance Corp. green-lit the key parts of a proposal the regulator made in May to replenish the Learn more about reprints and licensing...
European Central Bank President Christine Lagarde proposed granting more powers to the European Union’s securities watchdog, turning it into the regional equivalent of the US Securities & Exchange Commission. Supervision of capital markets “remains largely at the national level,” Lagarde said in a speech at a conference on Friday. A...
A burst of activity in Bitcoin derivatives has evoked memories of the period in late 2021 when the token surged to an all-time high. Variables such as the cost of perpetual futures trades and options open interest point to a revival in speculative gusto for Bitcoin, which has more than...
One of the latest wrinkles in the Charles Schwab custody transition from TD Ameritrade’s system involves RMDs, and a lack of records for any that were taken this year before Sept. 5. That has left advisors who were part of the move double-checking to ensure that their clients who are...
Advisors who are interested in growth, scale, practice management and margin expansion “absolutely have to attend” an upcoming webinar on turnkey asset management platforms. “TAMPs are about outsourcing,” said Barrett Ayers, president and chief executive of Adhesion Wealth. “If you’re struggling with margin compression and you’re being asked to do...
In August, B. Riley Financial Inc., which provides services ranging from investment banking to wealth management, said it had invested $216.5 million as part of the $2.8 billion management-led acquisition of Franchise Group Inc. Now the Franchise Group’s CEO, Brian Kahn, is under scrutiny, after a report that Kahn has...
Morgan Stanley Smith Barney agreed Thursday to pay six states $6.5 million to settle charges that it failed to protect customers’ personal information while shutting down two data centers in 2016. The problem occurred when computer devices were decommissioned and resold following the closure of Learn more about reprints and licensing...
Edelman Financial Engines, one of the largest registered investment advisory firms, has acquired PRW Wealth Management, an RIA that provides a range of wealth management services, both companies announced Thursday. PRW, which is headquartered in Quincy, Massachusetts, manages more than $500 milli Learn more about reprints and licensing for this article.