Wealth Management Industry News
A collection of Wealth Management latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
A Country Club Has Been Pulled Into a Wealth Management Lawsuit. Here's Why.
What happens at the country club may not stay at the country club. Mercer Global Advisors is asking a federal court to compel an exclusive Atlanta country club to produce documents detailing the activities of a pair of financial advisors who sold…
Global Funding To Financial Services Slowed Down In The Past 5 Quarters
Global funding to private companies in financial services — a leading sector for investment — has slowed significantly in the past five quarters. In the second quarter of 2024, financial services companies raised $9.7 billion, up a…
Week's Best: Janney Montgomery Scott to Get New Owner
Private-equity shop KKR has agreed to purchase Janney Montgomery Scott from The Penn Mutual Life Insurance Company. After the deal closes, Janney will operate as a stand-alone private company. The Philadelphia-based regional brokerage firm, which…
Stock market today: Most of Wall Street leaps in a widespread rally, from big stocks to small
NEW YORK (AP) — A widespread rally swept Wall Street Friday, lifting far-reaching corners, to close a tumultuous week where stocks that had been left behind for much of this year's record-setting run wrested the spotlight back from the…
Stock market today: A widespread rally on Wall Street sends stocks rising, both big and small
NEW YORK (AP) — U.S. stocks are rallying in near unison on Friday as they close out a bumpy week that had been dominated by sharp, market-cleaving swings. The S&P 500 was 1.3% higher in afternoon trading following stronger-than-expected…
JPMorgan launches 'research analyst' chatbot to help staff with writing, new ideas, problem solving
JPMorgan Chase & Co. has launched a generative artificial intelligence tool and told employees to think of it as a research analyst that can offer information, solutions and advice, according to an internal memo viewed by Bloomberg. The bank is…
ASK Private Wealth appoints Prateek Pant as Market Head for MENA; Prashant Tayal is Partner & Market Head for Singapore
Prateek Pant joins ASK Private Wealth as Market Head for the Middle East and Africa, based out of Dubai. In this role, Prateek will collaborate with Relationship Managers (RMs) in India to offer India-centric and global wealth management solutions…
Bloomberg Open Interest 07/26/2024
Get a jump start on the US trading day with 'Bloomberg Open Interest'. Matt Miller, Katie Greifeld and Sonali Basak take you to Wall Street to Main Street, to the C-Suite and beyond. 'Bloomberg Open Interest' will bring you what's buzzing in…
What Kamala Harris' latest financial disclosure reveals about her investment portfolio
Vice President and Democratic presidential candidate Kamala Harris is a believer in passive investment strategies, based on her latest financial disclosure. Financial experts say that means she's not gaming the system through stock ownership.
Eastern Bank hits pause on more M&A as it absorbs Cambridge Trust merger
Eastern Bank Executive Chairman Bob Rivers said the full impact of the Cambridge Trust merger will be discussed during the Eastern Bank's third-quarter report in late October. Already have a paid subscription? Sign in Eastern Bank has been busy the…
JPMorgan's new AI chatbot could make the bank operate like the intelligence community, startup CEO says
Banking analysts and equity researchers could soon find their jobs thoroughly reshaped by AI, which could make working in finance look more like working at the CIA. JPMorgan Chase, the world's largest bank by market cap, began rolling out to…
Bond traders are betting on Trump. Investors should stay on the sidelines.
The upcoming U.S. presidential election has become one of the most surprising in the nation's history with President Biden withdrawing his candidacy and endorsing Vice President Kamala Harris as his successor. Key members of the Democratic Party…
The personal cybersecurity concierge is a new perk, and need, among the wealthy
High-profile hacking cases, like Jeff Bezos' phone, and Bill Gates and Elon Musk's Twitter accounts, highlighted in recent years how vulnerable wealthy individuals can be to cyberattacks. But it's not just billionaires increasingly targeted by…
Council Post: Is The 'Magic Number' For Retirement Savings Myth Or Reality?
Andrew Whalen is CEO & Founder of Whalen Financial. In personal finance, one question reigns supreme: How much money do I need to retire comfortably? The answer, it seems, is a moving target. A 2024 survey on behalf of Northwestern Mutual of more…
Stock market today: Most of Wall Street leaps in a widespread rally, from big stocks to small
The market's widespread gains included rallies for both Big Tech behemoths and smaller stocks. That's a departure from recent trading, where a divide deepened between the handful of elite stocks that dominated the market for much of this year and…
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