We find ourselves in the early stages of a technological revolution: the age of artificial intelligence. But the promise of AI is now accompanied by sobering warnings from regulators. Securities and Exchange Commission Chairman Gary Gensler this year warned the financial services industry against the “AI wash”, over-promising and under-delivering to consumers. In this case,…

LPL Financial is facing a second lawsuit over its money laundering program. Douglas Nevitt, a 66-year-old retired construction worker in Illinois, has filed a lawsuit in California federal court accusing the firm of breaching its responsibilities to customers. He is seeking class classification in his lawsuit. Connected: LPL has 'No plans' to change the cash…

Financial professionals often find the concept of “downtime” unfamiliar due to the demanding nature of the industry. When the summer months approach and the workload slows down, it's natural to struggle with navigating the best ways to maximize your available free time. With tax season behind us, the summer months are precious—the days are longer,…

Wealth advisors who integrate charitable services into their offerings see it as a uniquely powerful opportunity to foster stronger and deeper client relationships. There are obvious reasons why, not to mention an element of impeccable timing. Turning to charitable giving as a business differentiator can be a unique juxtaposition for some. With today's intersection of…

(Bloomberg) — Boston Celtics guard Jaylen Brown is starting his quest to recreate Black Wall Street in Boston. Brown, 27, is launching Boston XChange, a nonprofit that plans to build generational wealth and cultural innovation in black and brown communities. Brown is partnered with Harvard Business School, Roxbury Community College and teammate Jrue Holiday's JLH…

(Bloomberg) — A high-stakes race is taking shape among top money managers, including BlackRock Inc . and Invesco Ltd., to combine Wall Street's trendiest investment vehicle with its fastest-growing asset class. The firms are among those signaling they want to offer access to private markets through ETFs, a link with the potential to open up…

Organic growth has long been a challenge for wealth companies, which appears to be growing in difficulty. The key to organic growth is understanding the full picture of client wealth and held-away assets. However, this can be extremely difficult, requiring continuous innovation and customized solutions across a wide range of financial products and services to…

Many of the best and brightest ideas in wealth management over the past decade have come from someone in the industry who saw a gap and filled it. Such is the case with Matt Brownwhich envisioned the use of technology to make alternative investments more accessible to the masses. Once limited to institutional and ultra-sophisticated…

Wealth management of ultra high net worth (UHNW) clients is a vibrant growth area and a promising area for the advisory industry. In 2021, about 141,000 US investors had $50 million or more in total assets. This number could grow by 30% by 2025, which presents a significant opportunity for financial advisors, especially in unique…

Private credit has seen its investor base expand significantly in recent years to include a growing number of wealth channel participants. This democratization has been made possible to a large extent by the emergence of investment fund structures such as business development companies. There are several different types of BDC structures, and when determining how…