Morgan Stanley told its advisers that they can ask qualified clients to buy shares in two Bitcoin ETFs, according to in a report from CNBC. Morgan Stanley is the first house to allow advisers to actively push investments. So far, some wires AND IBDs have allowed qualified advisors to offer approved ETFs to certain brokerage…

Private loan firms are looking to get their share of the valuation 178 trillion dollars the personal wealth market by offering individual investors what looks almost like a mutual fund. The product, called an interval fund, is being offered to registered investment advisers as an easy-to-sell entry into direct lending. Interval funds are available in…

Forget the Hamptons, Nantucket or Capri — Wall Street is spending part of its summer on the Paris Olympics. “It's a bit like Davos with some Olympic events in between,” said Mary Erdoes, who heads JPMorgan Chase & Co.'s asset and wealth management business. Erdoes described non-stop client meetings and unplanned run-ins with business leaders…

GPB Capital Holdings LLC founder David Gentile pleaded guilty Thursday to running a Ponzi-like scheme that federal prosecutors said risked more than $1.8 billion raised by thousands of investors. Gentile's co-defendant Jeffry Schneider, who ran Texas-based Ascendant Capital, was also convicted of securities fraud and conspiracy charges by a federal jury in Brooklyn, New York,…

It's no secret that asset managers are making a big push to catch growing demand for alternative investments in the retail channel. Big-name alternative asset players that have traditionally served institutions and high-net-worth investors, including KKR AND The Black Stone, have released products that are steadily attracting fund flows. Specialized providers like Cliffwater LLC AND…

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…