(Bloomberg Opinion) – Piper Sandler & Co. is eliminating its price target for the S&P 500 Index. Its Wall Street counterparts should follow suit. Financial services The firm's chief investment strategist, Michael Kantrowitz, said that because the market's performance was being driven by a handful of overweight stocks, index targets were no longer useful, as…

(Bloomberg). But four years after them debutactively managed strategies that only periodically disclose their holdings are experiencing a slow decline—and missing out on the massive swing their transparent counterparts are enjoying. Connected: Active ETFs Boom as State Street Eyes Record Inflows of $260 Billion Non-transparent active ETFs (ANTs) – or semi-transparent funds, as they are…

Wealthspire Advisors, a New York-based registered investment advisory firm owned by global insurance brokerage NFP, has launched Wealthspire Trust, a trust company incorporated in Tennessee. Wealthspire advisors, who manage almost $25.9 billion in assets, will now have access to the firm's personal trust services. He will be based in Franklin, Tenn. While Wealthspire has grown…

A broker facing FINRA disciplinary charges is citing last month's Supreme Court decision that weakened the SEC's enforcement powers to challenge the validity of the brokerage regulator's enforcement arm. D. Allen Blankenship filed suit in federal court in Pennsylvania against FINRA, seeking a temporary restraining order to stop the regulator from pursuing disciplinary hearings. Connected:…

Join abdrn and WisdomTree for a CE webinar focusing on fixed income strategies and bonds in 2024. Get expert perspectives from industry leaders Jonathan Mondillo and Kevin Flanagan as they discuss the current economic outlook, explore yield opportunities and share innovative strategies of investments. What you will learn: Understand the impact of a slowing…

Stifel had the highest satisfaction score among employee advisors, while Commonwealth took the top spot among independents, according to JD Power's latest rankings. Each year, JD Power surveys advisors at both employee and independent firms to gauge their satisfaction in a variety of categories, including compensation; strong leadership and culture; operational support; products and marketing;…

Years of rumors have materialized after giant technology provider Envestnet announced it will return to private ownership through an acquisition by Bain Capital. The transaction, which values ​​Envestnet at $4.5 billion, or $63.15 per share, includes stakes from previous investors and strategic partners in the firm – Revenerence Capital, BlackRock, Fidelity Investments, Franklin Templeton and…

Some advisors spend their entire careers with one firm, while others will choose to make a move when the time is right. And there are still others who have experienced many different corners of the industry. It's the latter who often make the most compelling guests on our show, because they really have seen it…

Modern Wealth Management, a registered investment advisory backed by private equity launched last year of former United Capital executives, has acquired Knoxville, Tenn.-based C&J Wealth Advisors, bringing the firm's assets to more than $4 billion. C&J Wealth, with $260 million in AUM, is Modern Wealth's ninth acquisition in the past 14 months. The deal also…

Rock House Financial, an independent RIA with $272 million in AUM, is merging with Wealth Enhancement Group, bringing the acquiring firm's client, advisory, trust and brokerage assets to $85.7 billion. Based in Farmington, Utah, it is WEG's first location in the state. The team is led by founder Bob Aamodt, CFP; Nicole Roberts, CFP; and…