Trader Talk

From seeking partnerships with pro football and basketball player unions to launching internships and mentorships, the new chairman of the board of the Association of African American Financial Advisors has raced through his first three months in the role. The organization that goes by the name “Quad-A” for short appointed Christian Nwasike, a principal with

Career military members performed worse than civilians on a financial literacy test, in a growing disparity between those serving the country and the general population, a new survey shows. Officers and senior non-commissioned officers from all branches of the military received an average grade of 57% on a quiz of their proficiency with money and

With the stress of filing your tax return now ideally in the rearview mirror — or kicked down the extension road to October 17 — many individuals have shifted to worrying about their chances of being audited. The numbers suggest it’s unlikely. Still, a host of pandemic-driven tax changes have created several potential minefields, and

Millennials took one look at their financial future and, early on, realized it was bleak. The YOLO generation started saving for retirement — stuffing away money in 401(k)-type accounts — nine years earlier than their baby boomer parents did, according to a new study. Charles Schwab’s “Retirement Reimagined” study points to the lack of pension

Bucking the trend of first quarter slumps seen elsewhere, SEI Investments managed to beat expectations and deliver a Q1 of annual increases amid a difficult market. The Oaks, Pennsylvania-based investment management firm posted revenue of $581.4 million for the quarter, up 28% year over year and surpassing Zacks Equity Research consensus estimates of $558.1 million.

Federal Reserve Chair Jerome Powell is considering a more aggressive monetary policy by raising interest rates half a percentage point at its policy meeting in two weeks, according to a panel discussion at the IMF Thursday. He noted that many central bank officials already felt such a move was appropriate during the March meeting, in

The only woman-owned independent brokerage in wealth management is changing its name in an effort to further distinguish itself in a competitive industry. Conway, Arkansas-based Trutoro found its new brand and bull logo after co-founders Gail Murdoch and Debra Shannon discovered at least 41 different FINRA or SEC-registered firms with the Latin word for “truth”

Without a doubt, the practice of using environmental, social and governance (ESG) screening practices for investments has become mainstream across the globe. While some advisors have been engaged in sustainable investing practices for a long time, others are discovering how to incorporate these strategies for their clients for the first time. Such strong interest in

More than five years after the alleged supervisory failures and about six weeks after its parent firm unveiled a merger into TD Bank Group, a wealth manager resolved a FINRA case. First Horizon Advisors, the wealth management arm of Memphis, Tennessee-based First Horizon Corporation and major regional bank First Horizon Bank, agreed to pay a

For the major part of its 30-year history, direct indexing has been a relatively obscure investment strategy primarily for ultrahigh net worth individuals. But the tide has turned, with the approach making an impact in the market so much in the last two years that large wealth management firms have shown increasingly greater interest. Here

In a perfect world, advisors would purchase client relationship management, or CRM, software from any one of the well-known market leaders and — voila! — all of the data would be imported and the result would be a near flawless environment in which everything works beautifully. It’s a pleasant fiction. Isn’t it? The reality is

A barred former LPL Financial advisor who claimed to be managing the finances of a charitable project in Africa on behalf of Taylor Swift is now facing Class A felony theft charges. Dain F. Stokes promised at least one client 20% returns within 90 days of the investment while sending text messages saying he “just

There’s been a lot of research on behavioral finance and investing. In essence, what they’ve discovered is that investors often act in ways that are unconscious, irrational and ill-informed. Furthermore, the most self-assured investors can be their own worst enemies as they look for information that supports what they already believe rather than looking at

Stronger wealth management earnings than in 2020 yielded higher compensation last year for the CEOs of 10 of the largest firms in the industry. J.P. Morgan Chase CEO Jamie Dimon led the field with ease by tens of millions of dollars after the impact of a huge “one-time special award” and the continued growth of

BNY Mellon’s Pershing, which represents the biggest line of business in the bank’s newly created Market and Wealth Services unit, gathered up almost $20 billion in net new assets in the first quarter, but revenue and fees were down as a result of business lost last year to recruiting and M&A deals. In its Investment

On Tuesday morning, the CFP Board shared with the more than 92,000 professionals under its purview an updated fee structure that includes nearly across-the-board increases for certificants, registered programs and continuing education sponsors. The goal, officials said, is a shared investment to support the organization’s new strategic priorities and fund initiatives designed with the future

As a Columbian-American financial advisor, Catalina Franco-Cicero sees why selecting a planner is often “a puzzle” for many immigrants who have come to her practice, she said. Catalina Franco-Cicero is a financial advisor with Plantation, Florida-based Tobias Financial Advisors. Graciela Valdes/Catalina Franco-Cicero “Deciphering that for them is actually something that’s very rewarding for me, because

Merrill Lynch Wealth Management attracted record revenue in the first quarter of 2022 even as the stock market struggled with inflation, rising interest rates that may continue to climb and geopolitical conflict. Merrill said the increase was driven by higher asset management fees and strong growth in deposits and loans, which drove net interest income

Despite the impact of equity volatility in a time of mixed economic signals, the wealth management arm of Goldman Sachs is keeping up its growth. For at least the third period in a row, the megabank’s Consumer & Wealth Management unit reeled in at least 20% higher revenue than the same time a year ago,

Russia’s now monthslong invasion of Ukraine has sent an already uneasy market into a tailspin of uncertainty and volatility. We’ve seen a massive bombardment of Ukrainian cities, rattling the nuclear saber, and most recently war crimes including the massacre of civilians in Bucha and reported use of chemical weapons in Mariupol. The United States has

The war in Ukraine and worsening inflation raising fears of a recession didn’t leave any time on J.P. Morgan Chase’s first-quarter earnings call for CEO Jamie Dimon to discuss the company’s substantial financial advisor recruiting gains. The firm’s private bank and J.P. Morgan Wealth Management added more than a combined 650 registered representatives on a

Russia’s invasion of Ukraine has sparked even greater uncertainty amid markets jolted by the pandemic and expected interest rate hikes. Wealth managers now face fresh questions on how to navigate rapidly shifting equity and bond markets and the fallout on retirement portfolios. Points we’ll discuss: • The hit to the overall global and U.S. economies

Since the SEC mandated that chief compliance officers must conduct annual reviews, they’ve been a source of stress and headaches for wealth management firms. Every year, financial advisors have to wonder if their annual review process is thorough enough or if it will be the source of a violation someday down the road, said Chris

Cryptocurrencies are gaining momentum among financial advisors, but many are waiting for an exchange-traded fund that would provide exposure to digital assets without worrying about complex storage and security procedures. According to a Nasdaq survey, 72% of advisors who are currently allocating or considering allocating client assets to crypto would be more likely to do

Despite lower net revenues in its wealth management business and overall during the first three months of 2022, Morgan Stanley CEO James P. Gorman credits his firm for strong performance amid “market volatility and economic uncertainty.” But the company still had plenty to celebrate in Q1, including profits that outperformed estimates and a wealth management

The giant wealth managers marketing their comprehensive financial advice are actually providing that service to just 14% of their clients, according to J.D. Power’s annual study. More than 4,000 investors who work with a financial advisor spoke with the research firm as part of its 2022 U.S. Full-Service Investor Satisfaction Study, which acts as a

Mary Childs, the co-host of NPR’s Planet Money podcast, says her new book, “The Bond King: How One Man Made a Market, Built an Empire, and Lost It All,” about PIMCO founder Bill Gross, is her bid to spread knowledge about the man who created the bond market as we know it today. Gross got

As a precaution against “enormous challenges related to the pandemic,” the IRS has advised taxpayers to file electronically with direct deposit to avoid processing and refund delays. As a financial advisor, your clients may be concerned about the increased potential for identity theft and fraud as scammers take advantage of the volume of online returns,

Investors continued to pour money into BlackRock’s funds in the first quarter, seemingly undeterred by falling stock prices, surging inflation and war in Europe. Even as uncertainty mounted over Russia’s invasion of Ukraine and the Federal Reserve’s response to fast-rising consumer prices, clients added a total of $114 billion to BlackRock’s long-term investment products in

The story of the last decade in the U.S. broker-dealer market has been one of consolidation. According to research from Cerulli Associates, the number of wealth management oriented BDs has declined from 1,284 in 2010 to 923 in 2020. The top 25 BDs control more than 68% of total assets under management across all of