In the wake of a potential leadership shift at the U.S. Securities and Exchange Commission, Wall Street’s ETF industry is adjusting its focus to include more speculative crypto products. Fund issuers are crafting exchange-traded funds (ETFs) to track altcoins—cryptocurrencies other than Bitcoin—such as Solana, XRP, and Litecoin. Under the possible new SEC administration, the industry…
Alera Group has integrated AI-powered planning capabilities from Tifin at Work into its retirement plan services practice. This move is designed to bridge workplace benefits and wealth management effectively. Marc McDonough, CEO of Tifin at Work, stated that this partnership is significant in addressing evolving retirement plan needs while promoting advisor growth. The collaboration marks…
Charles Schwab is gearing up to enter the spot cryptocurrency trading market, contingent upon a change in regulatory frameworks. Currently, the financial services company offers crypto-linked exchange-traded funds and crypto futures. The anticipation of such a regulatory shift comes as Schwab is poised for a leadership change. Walt Bettinger, CEO since 2008, will hand over…
CI Financial, a prominent player in the financial services sector, has announced plans to go private in a transaction involving an affiliate of Abu Dhabi’s sovereign wealth fund, Mubadala Capital. The deal, which values CI Financial at approximately $15 billion, is poised to bring substantial changes to the company’s corporate structure. The board of CI…
In a recent analysis by Degreechoices, a selection of undergraduate finance programs has been identified as offering significant value, with graduates achieving high earnings at relatively low cost. Such insights are crucial for prospective students and educational policymakers, reflecting the institutions that are optimizing financial career prospects for their graduates. For further details on the…
The Swiss Re Institute has issued a warning highlighting potential risks associated with passive investing. Analysts suggest that the increasing prevalence of passive funds, which have for the first time surpassed actively managed assets, could result in decreased market efficiency and increased reflexivity. These market dynamics could amplify sell-offs, especially in response to unexpected exogenous…
Charles Schwab is currently reviewing the referral fees for its Advisor Network, sparking interest and speculation in the financial advisory sector. The discussion revolves around the participation fee structure, which is based on a percentage of the assets maintained in custody at Schwab. These fees operate on a sliding scale, beginning at 25 basis points…
Brendan Krebs, formerly the head of advisor recruiting at Wells Fargo, has transitioned to PNC, where he will serve as the managing director of PNCI Wealth Advisors. This shift represents a noteworthy change in leadership for both financial institutions. In response to the news, Sol Gindi, head of Wells Fargo Advisors, emphasized the firm’s strong…
American perspectives on retirement planning exhibit significant generational differences, with a common thread being the desire for professional financial guidance. A detailed examination of this can be found in the article “7 Ways Views on Retirement Vary Across Generations.” Related topics discussed include strategies on how advisors can encourage savings among younger clients, major tax…
Fidelity Investments plans to implement changes in February that will affect how cash within non-retirement brokerage accounts is managed. According to ThinkAdvisor, the sole core sweep option for these accounts will be FCASH, a move that reflects a broader trend among financial institutions to optimize revenue from clients’ uninvested cash. Currently, Fidelity’s SPAXX fund is…
For those seeking the perfect luxury gift to impress wealthy clients during the holiday season, a new guide offers a curated selection of high-end products. While access to the full article may require a subscription, it promises to provide solutions for those struggling with gift ideas, ensuring that clients will receive gifts that reflect their…
According to recent findings by Wink, sales of various types of annuities have seen substantial increases, reflecting their attractiveness amid market uncertainty. The data shows that non-variable indexed annuities have surged by 58% to reach $37 billion, while multi-year guaranteed annuities have risen by 37% to $42 billion. Despite these robust figures, Moody’s analysts express…
Retirement planning is set to face several uncertainties in the near future, driven by potential policy changes and looming fiscal challenges. As governments grapple with promised tax cuts while addressing the impending insolvency of Social Security, significant adjustments could be on the horizon come 2025. These potential shifts introduce considerable unpredictability into retirement planning strategies,…
Renowned investor Warren Buffett, though his wealth surpasses that of any typical wealth management client, offers invaluable estate planning insights. His guidance covers a range of strategies that can benefit individuals aiming to effectively manage and transfer their wealth. For those interested in drawing from the experiences of such a successful figure, a deeper examination…
RFG Advisory, a prominent hybrid Registered Investment Advisor (RIA) platform, has successfully set a recruiting record as it approaches $6 billion in client assets. The firm has nearly doubled its advisor growth from the previous year, showcasing its consistent expansion within the financial advisory sector. Significant advisors recently onboarded by RFG this year include Vester…
Phillip Edwards and Lauren Stuhmer, previously at Citi Private Bank, have joined Bank of America Private Bank, enhancing the firm’s capability in Southeast Florida. Edwards brings a robust background, having been a senior banker at both Citi and J.P. Morgan, as well as a senior portfolio manager for a multi-family office. Stuhmer, who holds a…
Amid a significant overhaul at Citigroup’s wealth management division, Andy Sieg, a former Merrill executive, is offering retention bonuses to prevent further staff losses. The move is designed to address recent personnel changes that led to departures within the firm, especially within the Wealth at Work unit. Despite these challenges, Citi reported impressive investment flows…
Tifin Give, a philanthropic planning platform, has launched a new feature allowing donors to create personalized public campaigns. This tool aims to bolster community involvement by enabling individuals to encourage friends, families, and communities to support causes that matter to them. The service allows for campaigns to be built collaboratively by advisors and clients and…
Betterment, a leading financial advisory platform, has introduced an integration with Daffy that enables its users to seamlessly incorporate donor-advised funds into their financial strategies. This development allows investors to directly donate appreciated shares to over 1.5 million U.S. charities, aligning with year-end giving and tax planning needs. Sarah Levy, CEO of Betterment, commented that…
Fidelity has introduced five new actively managed stock ETFs, broadening its suite of options for investors. These include the Enhanced and Fundamental ETFs, with management teams consisting of industry experts such as Satyajit Chandrashekar and Tim Gannon. Additionally, Fidelity has revamped its active high-yield ETF, lowering its total expense ratio from 0.45% to 0.35%, and…
Robinhood’s Chief Legal Officer, Dan Gallagher, has withdrawn from consideration for the chairmanship of the U.S. Securities and Exchange Commission (SEC). Previously seen as a strong candidate for the role, Gallagher’s background includes serving as an SEC commissioner from 2011 to 2015, and more recently, navigating Robinhood through challenges such as the “meme stock” trading…
An experienced long-term care insurance (LTCI) professional shares personal insights and professional observations on the evolving landscape of elderly care today. Highlighting the lasting effects of the COVID-19 pandemic, the article discusses the notable shift toward receiving long-term care at home, as opposed to traditional facilities like nursing homes. This transformation, underscored by a past…
Morningstar’s Chief Investment Officer offers insights into the evolving investment landscape, highlighting how conditions in 2025 are expected to differ markedly from 2024. The firm identifies four key investment areas: long-term government bonds, intermediate-term bonds, foreign government securities, and companies leveraging artificial intelligence. Additionally, private assets emerge as a notable trend to monitor, as they…
As financial advisors look toward expanding their business strategies, the inclusion of alternative investments (alts) in clients’ portfolios emerges as an appealing prospect. Joan Solotar from Blackstone highlights that advisors are beginning to see alts as a method to not only diversify client portfolios but also to attract new clientele. As the asset class gains…
Cristen Morgan, the owner of Lake Norman Financial Group, has dedicated her career to providing financial peace of mind to clients, particularly women, business owners, and executives. Morgan’s journey, which began with the expansion of her business in 2004, reflects her commitment to offering tailored financial guidance and fostering relationships through diverse client interactions. Her…