(Bloomberg) — As sports gambling takes off in the U.S., quickly becoming a multibillion-dollar business, a troubling trend is starting to emerge: Americans appear to be pulling money out of their stock brokerage accounts to finance their bets online. . This is the main discovery presented in a recent time working paper titled Stability of…

(Bloomberg) — Rockefeller Asset Management is the latest money manager to benefit from the muni ETF boom. The New York-based division of Rockefeller Capital Management is launching the first actively managed fixed income exchange-traded funds. The products, which will be managed by a trio of portfolio managers who they joined earlier this year from Invesco…

(Bloomberg) — In a part of the U.S. exchange-traded fund market that has become known for increasingly risky products, a new offering that stands out from the crowd has debuted. Defiance, a $1.4 billion asset manager, on Thursday launched the Defiance Daily Target 1.75X Long MSTR ETF under the ticker MSTX. The fund appears to…

A Newport Beach, Calif.-based adviser that manages more than $500 million in client assets is joining Dynasty-backed Summit Path Advisors from BMO-affiliated Key Client Group, the boutique wealth firm announced Thursday. Paul Hoskin is joining the $18 billion Summit Trail as a partner and advisor and has worked in the BNP Paribas/Bank of the West…

LPL Financial continues to poach advisors from firms undergoing major acquisitions and integrations, this time adding a $615 million Atlanta team formerly with Lincoln Financial, which Osaic recently acquired. Financial advisors Jason Walker, Vladimir Nikitenko, H. Scott Braswell, Rosty Tkachenko and John Hydrick join LPL's broker/dealer, RIA and custody platforms, the latest in a multi-month…

LPL Financial continues to poach advisors from firms undergoing major acquisitions and integrations, this time adding a $615 million Atlanta team formerly with Lincoln Financial, which Osaic recently acquired. Financial advisors Jason Walker, Vladimir Nikitenko, H. Scott Braswell, Rosty Tkachenko and John Hydrick join LPL's broker/dealer, RIA and custody platforms, the latest in a multi-month…

Many wealth management firms have left one level of potential untapped: mastering the power of teamwork. It is the accomplishments of that team, firing on all cylinders and driving toward a unified vision, that drives phenomenal success. But getting to that level isn't always easy. It takes building, supporting and nurturing exceptional talent. And developing…

The registered investment adviser industry continues to report declining organic growth numbers, with many firms struggling to see gains above that of the stock market. With the lure of an infusion of capital from private equity investors jumping on the heads of RIA owners, the pressure to grow can be deafening. As the average age…

Conway Investment Solutions and private markets wealth technology platform Opto Investments formed a strategic partnership to provide RIAs with access to quality commissioned and actively managed private market funds. These will mainly involve a curated fund of funds involving several different fund managers. The partnership will enable RIAs to offer clients private market investments at…

Self-directed IRA custodian Equity Trust Company announced the launch of the Universal IRA, a plan that allows customers to invest in traditional and alternative assets within a single IRA. Equity Trust clients will be able to use a single login and platform to access stocks and bonds, as well as alternative investments including real estate,…