Wealth Building

Fugitive adviser and CNBC analyst arrested after years on the run

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…

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10 must-read investments for this week

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…

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Gen Z Investors Shun 60-40 Portfolio For Sneakers, Rare Cars

(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…

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Aging and the impact of cognitive decline on investment decisions

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…

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CAIA charting challenges for advisors interested in Alt investments

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…

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NewEdge Snags $540M Team from Carson

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…

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Wealth Management Investing: Investing in Private Markets

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…

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Allworth buys $220M Northern California RIA

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…

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Deepfake Risk Advisors Take With Video Marketing

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…

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Retail funds dive into quant ETFs after $48 billion

(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…

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