Ameriprise Financial has filed a lawsuit against LPL Financial, accusing the broker/dealer of misusing private, confidential customer information while recruiting advisors “in connection with its unfair competition within the financial industry.” Ameriprise filed suit in the US District Court for the Southern District of California, alleging that LPL is directing recruits to take customer information…

Speaking at a Bitcoin convention, Donald Trump said that if elected, he would direct the Treasury to end its “repression” of the crypto sector, FundFire reports. Spot Ether ETFs had a rough first week of trading amid a broader market selloff, according to VettaFi. These are among the investment must-reads we found this week for…

Economists have long been interested in being able to identify stock market bubbles in advance because not only are they associated with significant mispricing in financial markets (contrary to the efficient markets hypothesis), but mispricing leads to distortions in the distribution of capital (overinvestment). . Furthermore, bubbles are followed by crashes as the consequences of…

Captrust Financial Advisors, the Raleigh, NC-based registered investment advisor, has surpassed $1 trillion in total client assets, a major milestone for the independent RIA channel. This includes $220 billion in assets under management, with the rest under advisory. Captrust now has a national presence, with clients in all 50 states. When the firm started in…

Based on one-year returns. Data of 26.7.2024. Minimum $5 million in net assets. Excludes leveraged and inverse ETFs. Aniket Ullal is VP, ETF data and analytics for CFRA, one of the world's largest providers of independent investment research. Aniket founded First Bridge Data, a leading source for global ETF data and analytics that was acquired…

One of the most complicated sections of the final required minimum distribution regulations issued recently is Section 1.401(a)(9)-4(f)(4), “Multiple Trust Agreements,” a holdover from the proposed regulations. That section provides: If a beneficiary of a transparent trust is another trust, the beneficiaries of the second trust will be treated as beneficiaries of the first trust,…

Charitable giving platform Daffy (Donor Advised Fund for You) announced on Tuesday the launch of a new custom wallet feature. Initially, Daffy offered 15 pre-built ETF portfolios spread across four broad categories: conservative, benchmark, ESG and crypto. Custom wallets will be the fifth category. Connected: Daffy expands functionality to include families This functionality was not…

The Federal Trade Commission under Chairman Lina M. Khan has set its sights on banning non-compete agreements, potentially affecting over 30 million American workers. This move is particularly important in financial services and could have significant implications for mergers and acquisitions in the industry. FTC Injunction Not to Compete Connected: FTC's Ban on Employee Non-Compete…

(Bloomberg) — Morgan Stanley's chief U.S. economist Ellen Zentner is leaving her post to lead a newly created team within the bank's wealth management business. Zentner will lead the new thematic and macro investment team in Morgan Stanley's Global Investment Office starting Aug. 1, according to an internal memo reviewed by Bloomberg News. Ellen Zentner,…

(Bloomberg) — Nine U.S. ETFs holding the cryptocurrency Ethereum saw $340 million in outflows during their first week of trading as investors pulled cash daily from a high-fee legacy product that was converted to a traded fund. in return. The eight new Ether exchange-traded funds, created after last week's approval by the U.S. Securities and…