With economic storm clouds gathering, Canada’s bank regulator is considering stricter capital requirements that some analysts say have the potential to force Royal Bank of Canada, the nation’s biggest lender, to sell equity. The banks, which make up the largest sector weighting on the S&P/TSX Composite Index, have dropped 4.6%...
Australian Retirement Trust, the country’s second largest pension fund, is scouring the world for a new chief executive officer after Bernard Reilly announced he was stepping down. Reilly, who will leave in February, oversaw the largest merger to date in Australia’s fast-growing pensions industry when Sunsuper and QSuper combined last...
The slide in the yen isn’t over, despite expectations the dollar may not be quite so strong in coming months, said the top forecaster for the currency. The yen will probably weaken to 152 against the dollar this year, and 155 in 2024, Tohru Sasaki, JPMorgan Chase & Co.’s head...
There’s more than one way to shine a penny—or in this case, to grow your advisory business. While adding new clients is critical, when you’re building a legacy, it’s not the only important approach. Another way to create a sustainable practice is by developing new talent. Hiring an associate advisor...
Validus Financial Associates, which oversaw approximately $800 million in assets at Lincoln Financial Group, has found a new home at LPL Financial, the firm announced Wednesday. Validus also joined LPL Financial’s broker-dealer, RIA and custodial platforms. The Peoria, Arizona-based firm is led by senior partners Ryan Kidd and Aaron Montez, who...
Commonwealth Financial Network has announced the expansion of its Talent Exchange Initiative, which aims to connect skilled students from top universities that offer certified financial planning programs with the firm’s affiliated advisers. The initiative is an expansion of the pilot program started at Bentley University last year. It will help...
Investment advisors worried about what may be in store when the SEC knocks on their door received a fairly detailed preview from the agency Wednesday. The Securities and Exchange Commission outlined in a risk alert how it selects firms to examine, the areas it focuses on in the probes and...
Creative Planning CEO and president Peter Mallouk said the giant registered investment advisor with $245 billion in client assets is building three lanes for the several hundred financial advisors and staff at the newly acquired RIA Personal Financial Management to allow them to move comfortably to Creative Planning in...
An ETF shop known for shorting Jim Cramer’s and Cathie Wood’s stock picks is preparing to bet against a different category: ESG. On Tuesday, Tuttle Capital filed with the Securities and Exchange Commission to launch two products: the Inverse Socially Conscious and Self Defense Index ETFs. The former would seek...
InvestmentNews’ inaugural Hot List survey closes this Friday, Sept. 8. Readers are invited to nominate industry professionals who made a significant impact in 2023 to be recognized in this prestigious list. Financial advisors, wealth management professionals and executives who have at least 10 years of experience will be considered. If you...