The Securities and Exchange Commission is poised to impose new fees on brokers to help pay for an expansive market-surveillance system. The plan to fund the audit-trail system to track billions of daily equities and options trades faces stiff opposition from industry trade groups and heavyweight players including Citadel Securities...
On any other week, Chuck Smith helps his clients save for the long run. This week, however, the Nebraska-based registered investment advisor will be running for the long save. Smith and his team at Qualified Plan Advisors will be running 401K — or 250 miles — in honor of National...
Outsourcing. Custody. Cybersecurity. Data privacy. Private funds. Predictive data analytics. And much more. The SEC’s ambitious and fast-paced rulemaking agenda will have significant consequences — foreseen and unforeseen — for investment advisors, investors, service providers, and the markets more broadly. In just over 18 months, the SEC has proposed or...
Like many rapidly consolidating industries, wealth management is witnessing a shift in how firms drive market share and compete, and the narrative in the independent space is also evolving with this shift. The number of U.S. brokerage firms is shrinking every year, with 3,394 firms registered with the Financial Industry...
September has got underway with several wealth firms announcing the completion of mergers and acquisitions, involving firms with combined assets under administration or management of more than $16 billion. The largest of the completed deals is Atria Wealth Solutions, Inc.’s acquisition of Grove Point Financial, LLC, adding $15 billion AUA...
Raymond James Financial Services has added a new team to its financial institutions division, expanding the reach of its investment and wealth management services. The three financial advisors and four associates from Plains State Bank in Houston and Cypress, Texas, will operate as Core+ Financial Strategies and were previously affiliated...
As the new academic year gets underway, a new report reveals a gender gap among the most lucrative degrees. Of those who hold the top 20 highest-earning bachelor’s degrees, 78% are men and 22% are women according to the analysis from Bankrate.com which looked at the median income of 151...
European stocks fell amid weak German data and elevated oil prices that reignited concerns over inflation. The Stoxx 600 index retreated 0.6%, sliding for a sixth day after German factory orders plummeted in July, a sign that the woes of Europe’s biggest economy continued into the third quarter. The euro jumped as...
Morgan Stanley is returning to a bearish view on emerging-market currencies, citing concerns over China’s growth risks that not only weigh on the yuan but also further pressure a weak global economy. The shift from a neutral stance partly resulted from a view change on the offshore yuan, where the...
Grid constraints, the still high cost of green technology and planning delays are holding up $18 trillion worth of investments needed to reach global 2030 climate goals, making any rapid energy transition increasingly unlikely. The incorporation of renewable and other low-carbon sources of energy must happen three times faster than...