It's the end of a century-long era for iconic music retailer Sam Ash, which announced on Monday that it would be closing its doors for good. “It is with heavy hearts that we announce that effective May 2, 2024, all Sam Ash Music Store locations will begin store closing sales,” the company written on her…
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(Bloomberg) — Banco Santander SA has hired 40 private bankers so far this year to look after high-net-worth and ultra-wealthy clients in Europe and Latin America as it aims to increase assets under management. The Spanish lender began boosting the senior and ultra-senior segment of its private banking business last year and has since hired…
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Jack Dorsey, co-founder and former CEO of X/Twitter until he resigned in 2021, has stepped down from the board of rival X Bluesky, a decentralized social media network he helped create, fund and promote. Blue sky began as a small research project within Twitter at the time 2019 and became her platform in 2022. The…
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Focus Financial Partners, the RIA aggregator that was taken private a sale to Clayton, Dubilier & Rice last year, will combine two of its partner firms, Buckingham Strategic Wealth and The Colony Group, to create a $50.2 billion RIA. Since CD&R took over Focus, it has consolidated its 90 operations independently subsidiary practices in a…
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The Met Gala red carpet live streaming starts at 18:00 on Monday, May 6. This year's theme is “Sleeping Beauties: Awakening Fashion“, which celebrates the Costume Institute's new exhibit. Official Co-Chairs (and Honorary Chairs) of the 2024 Met Gala were announced in February, and an unexpected businessman will join Conde Nast Global Editor Anna Wintour…
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Osaic finalized its $115 billion acquisition of Lincoln Financial's wealth business this week, months after the deal was announced. Osaic, the broker/dealer network formerly known as Advisor Group, acquired Lincoln's two wealth management firms, Lincoln Financial Advisors Corp. and Lincoln Financial Securities Corp., as part of the deal. More than 1,400 advisers will be on…
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Succession plans in 870 billion dollars Berkshire Hathaway took center stage Saturday as thousands of shareholders attended the firm's annual meeting in Omaha. Investors asked Berkshire's 93-year-old chairman, Warren Buffett, about what would change when Berkshire's vice chairman, Greg Abel, 61, who has been with the firm for 25 years, succeeds Buffett as CEO. Abel…
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SoFi Financial, a San Francisco-based brokerage firm specializing in self-directed retail trading, will pay $1.1 million to settle FINRA charges alleging the firm's cash management brokerage account was sensitive to fraud, with third parties transferring millions from customer accounts without authorization. Starting in 2018, SoFi offered some customers the SoFi Money brokerage account, offering features…
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(Bloomberg) — It's an oft-told anecdote blowing up on social media: Those who invested early in cryptocurrencies have enjoyed life-changing wealth. How much extra cash gives them the confidence to spend more — a phenomenon economists call the wealth effect — is a hot topic whenever crypto prices rise. A group of researchers tried to…
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