A California-based consultant and former frequent CNBC analyst is in custody after eluding law enforcement for more than two years, according to the Justice Department. James Arthur McDonald was arrested over the weekend in Port Orchard, Wash., about 15 miles outside Seattle. He made an initial court appearance in Tacoma, Wash., and is expected to…

Blackrock's Chief Investment Officer reported that while hedge funds and brokerages have dived into bitcoin spot ETFs, RIAs have been slower to embrace them. Morgan Stanley is adding more manager-traded SMAs to its UMA platform, FundFire reports. These are among the investment must-reads we found this week for wealth advisors. WealthManagement.com | June 18, 2024…

(Bloomberg) — The nouveau riche are trading old investment tactics for more crypto-heavy wallets and a passion for collectibles. About 94% of Gen Z and Millennial investors are interested in collecting items such as watches, rare cars and sneakers, according to a new survey of wealthy Americans by Bank of America Corp. It was the…

The US investor population is aging and living longer, creating a need for financial assets to last longer. An important question to address is whether the wisdom gained from experience outweighs the negative impacts on investment behavior caused by cognitive decline as we age. Empirical research shows that while, on balance, cognitive decline has the…

A new report from CAIA offers advice to financial advisers on how they should approach integrating alternative investments into client portfolios. According to Aaron Filbeck, CAIA's managing director and head of UniFi from CAIA, there is now widespread interest in the wealth management industry in adopting alternatives. However, getting to the “implementation stage” still presents…

NewEdge Advisors, the New Orleans-based RIA partnership platform owned by NewEdge Capital Group, has snapped up a team of advisors from Carson Wealth. Stonebridge Financial Partners, a firm based in Troy and Grand Rapids, Mich. with $540 million in client assets and a team of 18, has joined NewEdge, a major LPL Financial enterprise, through…

WealthManagement.com's David Bodamer talks with Jake Miller, co-founder and chief solutions officer at Opto Investments, about the evolving private markets landscape and how RIAs can use new strategies to benefit their clients. They touch on opportunities and challenges within private equity, private credit, infrastructure and real estate, as well as Opto's recent partnership with Mercer…

Allworth Financial, the Folsom, Calif.-based registered investment advisor with approximately $22 billion in assets under advisement, has acquired Del Monte Group, a Walnut Creek, Calif.-based RIA with over $220 million in assets. Terms of the deal were not disclosed. This represents Allworth's 18th location in California, its fifth deal this year and its 36th acquisition…

Your voice may be compromised. It's not a risk that financial advisors had to take seriously a decade ago. Today, it is a very real threat. For a successful adviser who spent decades building a well-curated list of high-net-worth clients, the threat hit home. After spending $8,000 on a video project for his website, Ken…

(Bloomberg) — Traders are pouring billions of dollars into quantitative-powered stock markets, boosting an investment style that is struggling to gain traction in a Age when simple bets on traditional large-cap indexes have yielded good results. Money managers have sunk nearly $48 billion into so-called smart beta equity exchange-traded funds this year, either to capture…