No longer in a shed, economics and societal pressures are causing the defined contribution industry to evolvesomewhat annoyingly, since retirement in general and DC plans specifically have become sexist with over 10,000 baby boomers retiring every day. The themes that run through the main stories are: The explosion of DC's plans, Convergence of…

When advisor Phil Fiore began his career at Prudential Securities in the 1990s, the most common way to build a book of business was to “call for dollars,” cold-calling complete strangers in the hopes of persuading them to submit their assets and invest in the latest favorite stock. “How many times am I going to…

Sponsored by John Miller, head and CIO of high yield municipal credit at First Eagle Investments, discussed their High Yield Municipal Bond Fund (FEHIX). He attributes their success to a team of experienced professionals, focus on a single product and strategic loan selection. First Eagle Investments anticipates continued opportunities in high-yield municipal bonds due…

LPL Financial's money laundering programs breached its fiduciary responsibilities to its advisory clients, according to an alleged client who filed suit in California federal court. Daniel Peters filed the complaint in the Southern District of the Golden State, seeking class classification on behalf of LPL's other customers. Connected: Fidelity removes high-yield fund as money laundering…

Learn how WealthManagement.com and The Oasis Group are helping to drive collaboration on cybersecurity, AI and operational efficiency. Source link

Wealth management is a highly regulated industry and for good reason. Strong regulations are critical to protect the broader financial system, protect the investing public, and protect against bad actors. Wealth management firms are enthusiastic supporters of reasonable regulations put in place at the federal and state levels to benefit their clients by building trust…

Abacus Life, a publicly traded alternative asset originator and manager specializing in life insurance products, has signed an agreement to acquire Carlisle Management Company SCA, a Luxembourg-based alternative asset manager with approximately $2 billion in assets under management, for 200 million dollars. Dynasty Investment Bank was the exclusive advisor to Abacus Life on the deal….

Advisers are likely to wake up to messages warning of difficulties logging into their custodial platforms and other technology providers on Friday morning. Mainstream media are reporting that a global technology outage is currently being blamed on a faulty software update for Microsoft Windows operating systems by cyber security giant Crowdstrike. Connected: Smarsh announces partnership…

Blackstone, an alternative asset manager with more than $1 trillion in AUM, continued to gain traction with investment products targeting the wealth segment, raising $7.5 billion in the channel during the second quarter. The firm also said it plans to launch two more funds for these clients in early 2025; one focused on infrastructure and…

Raymond James' investment management arm will launch its first exchange-traded funds in 2025. The firm has hired Mo Sparks, former head of exchange-traded products at the New York Stock Exchange, as head of exchange-traded funds. scholarship, a newly created position. He joins Raymond James Investment Management on July 22 and will lead the firm's efforts…