A financial advisor who began his career with Edward Jones in 2015 is returning to the firm to provide comprehensive retirement plan services for small and mid-sized companies in the Seattle area. Jon Murdock previously managed $167 million in client assets and rejoins the firm after spending a year as...
The retirement years of millions of Americans appear to be on a better course, but the reality may be less rosy according to Goldman Sachs Asset Management. The firm’s Retirement Survey & Insights Report 2023 shows an improvement with 65% of the U.S. workers polled believing they are on course...
Markets may be underestimating the risks of both a US recession and one more interest-rate hike from the Federal Reserve, making haven assets a preferred play, according to Pacific Investment Management Co. There’s “still a fairly elevated chance of another hike before the year end,” Geraldine Sundstrom, a money manager...
A New York firm that managed billions of dollars for sanctioned Russian oligarch Roman Abramovich was sued by the Securities and Exchange Commission for not registering as an investment adviser. The SEC filed suit Tuesday against Concord Management LLC of Tarrytown, New York, and founder Michael Matlin. The agency said...
Bank of America Corp.’s Savita Subramanian is the latest Wall Street strategist to boost her target for the S&P 500 after the sharp rally in 2023 left forecasts in the dust. The strategist now expects the benchmark to end the year at 4,600 points versus her earlier target of 4,300...
Options traders are seeking protection from higher interest rates ahead of Wednesday’s Federal Reserve policy decision. That’s a change from the norm over the past couple of weeks, during which traders broadly favored hedging for a pivot to rate cuts by mid-2024. The shift in momentum has a backdrop of...
Currency traders preparing for this week’s policy decisions from the Federal Reserve and Bank of Japan got fresh reminders that Japanese officials stand ready to intervene in the currency market with possible US backing if swings in the yen are deemed excessive. Japan’s top currency official Masato Kanda said Wednesday...
Republican and Democratic lawmakers pressed an SEC official Tuesday to drop a mutual fund reform proposal they say would hurt ordinary investors — but they didn’t get the response they wanted. Bipartisan ire about the measure, which is designed to bolster mutual fund resiliency during times of market stress, was...
Carlyle Group is providing a cash infusion to acquisition-hungry Captrust Financial Advisors, the latest sign that private equity is still very much interested in registered investment advisors and that deals in the space may still be ramping up. Funds managed by Carlyle are making “a minority growth investment” in the...
The debt-financed, $1.2 billion acquisition of Avantax Inc. and its 3,100 financial advisors that Cetera announced last week is not only an indication of firms’ interest in nabbing more and more wealth management assets, but also shows how using debt to fuel such deals could further reshape the financial...