State securities regulators continue to resist Finra’s efforts to allow brokerages to conduct online supervision of branch offices. The state regulators’ organization, the North American Securities Administrators Association, has been a consistent opponent of the Financial Industry Regulatory Authority’s proposal to establish a voluntary three-year pilot program for remote inspections. The...
A forthcoming ETF suite is aiming at the crossroads of two investing trends currently having their moments: single-stock products and covered-call strategies. That appears to be the heart of the Rex IncomeMax ETFs — a line of 17 funds, each of which gives the covered-call treatment to a specific security....
Wealth managers proudly display a long list of designations and degrees after their signatures – CFP, MBA, CPA, CFA, etc. – and deservedly so, considering the effort involved in achieving those titles. Katherine Krantz, CEO of the Center for the Macro Specialist Designation, says it’s high time, and of high...
CAIS, an alternative investment platform focused on independent financial advisors, said on Thursday it had added a dozen new managers or investment strategies from existing managers to its platform. Apollo Global Management, Ares Management Corporation, Bain Capital, Blue Owl Capital, The Carlyle Group, Fidelity Investments, Franklin Templeton, KKR, Neuberger Berman,...
Broker-dealer industry veteran Tom Berthel is stepping away as CEO from the management of the day-to-day operations of the broker-dealers and registered investment advisor with 360 financial advisors who work with $9.8 billion in client assets. The most prominent of those firms is the independent broker-dealer Berthel Fisher &...
They weren’t kidding when they said an education is worth its weight in gold. According to the advisor edition of State Street Global Advisors’ Gold ETF Impact Study released Thursday, a lack of financial knowledge is the top reason investors don’t invest in gold, with more than a third indicating...
Stocks, bonds and the dollar saw small moves, with a mixed inflation report reinforcing speculation the Federal Reserve will pause its rate hikes — but refrain from calling the end of its tightening cycle. The S&P 500 was little changed. The Dow Jones Industrial Average underperformed. American Airlines Group Inc....
Household incomes fell in a third of all states nationwide last year, while just five saw median income levels improve, according US Census Bureau data. Household incomes fell in 17 states, mostly in the upper Midwest, one-year estimates from the American Community Survey found. Michigan, Pennsylvania, and Ohio — widely...
Citi has announced a significant change to its organizational model and its management structure. The move will see Andy Sieg, the firm’s new wealth business leader, take a seat on the executive management team along with the leaders of the firm’s other interconnected businesses. Sieg joins the firm on Sept....
A financial advisor who began her career as a branch office administrator at Edward Jones is returning to the firm in Winchester, Virginia. Julie Wise rejoins the firm after eight years with Wells Fargo Advisors, where she was part of a team managing $300 million in client assets. Wise spent three...