James Fayssoux Sr. is still working at 75 rather than enjoying retirement because he lost a substantial amount of money when a brokerage firm churned his portfolio. Fayssoux, a real estate lawyer in Greenville, South Carolina, may be on his way to financial recovery following a decision last week by...
The newly rebranded Osaic Inc. said Thursday that it nabbed a team of financial advisors formerly with Wells Fargo Advisors Financial Network that manages $600 million in client assets. Based in Birmingham in suburban Detroit, the Investment Consulting Group consists of managing partners and co-founders Christopher DeWolfe and Jason...
No matter how they may be portrayed in movies and on television, the majority of ultra-high-net-worth investors are not single-mindedly focused on lowering their taxes. They are actually more concerned about their kids becoming rich little creeps, a new study shows. Estate planning solutions provider Vanilla Thursday announced the...
Crypto exchange-traded-products issuer 21Shares and Cathie Wood’s Ark Investment Management are seeking to offer the first U.S. ETF that invests directly in ether. The firms are hoping to debut the ARK 21Shares Ethereum ETF, according to a Wednesday filing with the Securities and Exchange Commission. Their application is the first...
The investment industry is being reshaped by several factors which can leave industry professionals feeling uncertain of how they can keep up with the developing trends. But a new report from the CFA Institute aims to help along with the establishment of a new center focused on addressing the most...
Cetera Advisor Networks has attracted a team of advisors from Hickory, North Carolina, via Convergent Financial Partners, the network’s newest region. Brent McDonald and his Tar Heel Wealth Management Team have a practice of around $145 million and McDonald’s specialties include small business planning, retirement and income planning, estate planning...
Wisconsin-based investment management firm Madison Investments has launched its fourth new actively managed ETF, rounding out its initial suite of funds that debuted last month. The firm’s latest exchange-traded fund is the Madison Short Term Strategic Income ETF (MSTI), designed to generate a high level of current income by allocating...
Stocks declined, while Treasury yields climbed after a stronger-than-estimated reading on the US services industry bolstered speculation the Federal Reserve will keep interest rates higher for longer. The S&P 500 closed below 4,500 and the Nasdaq 100 fell almost 1% — with Apple Inc. leading a slide in big tech...
The dollar’s recent strength has confounded naysayers, and according to some hedge funds, the rally isn’t over. K2 Asset Management says the greenback will continue to charge higher as US interest rates remain elevated while AVM Capital expects rising Treasury yields to boost the currency. Alternative asset manager Clocktower Group...
Gold investment has risen over the past year, driven by central bank purchases, with overall implied allocations by non-bank investors at the highest since end-2012, JPMorgan Chase & Co. analysts including Nikolaos Panigirtzoglou said in a note. The implied allocation to gold has been rising since the pandemic and looks...