Alternative investment platform iCapital has launched its first model portfolio. Called the iCapital Multi-Asset Portfolio, it will allow financial advisers to invest in private capital, private loans AND real assets through five funds operated by alternative asset managers, including Blue Owl Capital and Nuveen. iCapital expects to launch more model portfolio options on its platform…

Global asset manager Franklin Templeton announced a collaboration this week with Microsoft to build an advanced financial artificial intelligence platform. The new platform will consist of composable business applications, which, in the simplest terms, are built in a modular way and are intended to interact with each other from the start. Connected: Private equity firm…

A former Suntrust and M&T registered representative was sentenced to 3 1/2 years in prison for stealing more than $1 million from a 17-year-old customer. Eddy Ray Blizzard originally pleaded guilty in Maryland federal court to bank fraud in late December and faces a harsher maximum sentence of 30 years. FBI Special Agent in Charge…

(Bloomberg) — Sixth Street, the investment firm that owns a 20% stake in the San Antonio Spurs, is planning to raise its first fund dedicated to the sports ecosystem, according to people with knowledge of the matter. The San Francisco-based firm has held preliminary talks with potential investors about the vehicle, which will seek to…

Moody's Ratings has downgraded the debt of CI Financial, the Toronto-based asset and wealth manager that spun off its US wealth management business into a sister company, Corient. earlier this year. In an April 22 report, the rating agency downgraded the firm's long-term issuer and unsecured debt ratings from Baa2 to Baa3. The new rating…

Opponents of The Department of Labor's newly finalized fiduciary rule fired the first shot to kill him in the courts this week, with a lawsuit filed in Texas. The plaintiffs include the Federation of Americans for Consumer Choice, an Austin, Texas-based lobbying organization for independent insurance professionals; the group previously filed a lawsuit in Texas…

(Bloomberg) — One year after a wave of spec exploded over her application for trademark the word “IndexGPT” in reference to an unspecified AI-powered tool, JPMorgan Chase & Co. is finally unveiling the product that will bear the name. Connected: What ChatGPT means for wealth management IndexGPT is a new range of thematic investment stocks…

I am the president and CEO of Willow Creek Wealth Management, an RIA in Sebastopol, California. It is about an hour north of San Francisco. It's a delightful place in the wine country of Sonoma County. My background has always been in technology, operational efficiency and security. I have been here for about 10 years,…

Later this month, data integration and management developer Invent. us will debut Invent Village at EDGE Wealth Management Conference 2024. The collection of representatives from technology advisory and asset management firms will be available to attendees and exhibitors from May 13-16 at the Diplomat Hotel in Hollywood Beach, Fla. Connected: Franklin Templeton partners with Microsoft…

of Federal Trade Commission recently announced a monumental decision: outlawing non-compete clauses in employment contracts. The move is sending shockwaves throughout the business world – particularly in the wealth management industry, which has historically relied on these clauses to lock out advisers under threat of legal action. As the future of the rule hangs in…