Investment advisors are shrugging off a potential government shutdown this weekend. “We’ve been through this song and dance before,” said Noah Damsky, co-founder of Marina Wealth Advisors. “It feels like déjà vu. This is what they do every time.” Lawmakers in Washington are once again at loggerheads over the federal budget....
JPMorgan Chase & Co. reached settlements with former executive Jes Staley and the U.S. Virgin Islands over ties to Jeffrey Epstein, as it seeks to end its legal woes over its banking relationship to the deceased pedophile. The biggest U.S. bank tentatively agreed to pay $75 million to the U.S....
An engineering conglomerate owned by Berkshire Hathaway just won an initial victory in a lawsuit brought against the company over its 401(k) plan. The company, Marmon Holdings, was sued last year in a proposed class action filed by law firm Capozzi Adler, which has brought numerous excessive-fee cases against 401(k)...
Wealthspire Advisors, a registered investment advisor owned by insurance broker and retirement consultant NFP, said Tuesday that it had made its most significant acquisition since 2019 with the purchase of GM Advisory Group Inc., an RIA that manages about $3 billion of client assets and advises on another $3.3...
The recipe for success in the registered investment advisor space is clear: Attract the best advisors in the country to join a strong, efficient firm. While that straightforward approach only involves a few steps, the strategy becomes complicated when you consider that most of the best advisors strive to...
A team of five financial advisors who managed more than $500 million in assets at Merrill Lynch has joined Raymond James’ employee advisor channel, Raymond James & Associates, the firm announced Tuesday. The advisors, who will operate as Meyer Rotolo Wealth Management of Raymond James in Slidell, Louisiana, are John...
The SEC has charged a podcast host for allegedly running a Ponzi scheme which claimed to offer low-risk, high-return promissory notes purportedly collateralized by first mortgages on homes located throughout Ohio. Matthew Motil is the host of ‘The Cash Flow King’ podcast and the regulator says that he used this...
Edward Jones has a new advisor utilizing its technology capabilities and home office support in Albuquerque, New Mexico. Financial advisor Andrew Furste joins the firm from Charles Schwab where he spent 14 years and managed more than $289 million in client assets. He previously served in the U.S. Military. “Edward Jones...
With household finances under pressure, some American families are finding medical expenses one bill too much, or even foregoing medical care altogether. A poll of 1,000 U.S. adults reveals that two-thirds (67%) said that inflation is making it harder to pay medical bills in 2023, up 10 percentage points from...
The greenback is once more proving it’s the only haven that matters. Treasuries are cratering — and sending other bond markets down — as a looming shutdown underscores the potential that US fiscal profligacy will spur issuance. With the Federal Reserve determined to keep interest rates higher for longer, investors...