(Bloomberg) — Fidelity Investments cut about 700 jobs this week, its first headcount reduction in seven years. The move affects less than 1% of the workforce, a Boston-based Fidelity spokesman said Friday in an emailed statement. The firm had about 74,000 employees at the end of last year. Connected: Fidelity launches alternative investment research for…

(Bloomberg) — Savers who benefited from the high interest rates offered by savings accounts and high-yield certificates of deposit last year are waking up to a bigger tax bill from Uncle Sam. With US taxes due on April 15, many taxpayers are facing a higher tax liability on the interest they've earned through these accounts,…

(Bloomberg). After a “crypto winter” that saw a number of scandals, bankruptciesand a price drop of nearly 77%, Bitcoin finally reached a new peak on March 5, reaching $69,191.95. She briefly jumped to the north of $70,000 for the first time on Friday and the rise has boosted other cryptocurrencies, with Ether and even Dogecoin…

A former Osaic employee has filed a federal discrimination lawsuit alleging she took extended leave because of a COVID-19 infection and a compromised immune system that led to her firing. The lawsuit was filed Friday in the U.S. District Court for the Northern District of Alabama. She first accused Osaic of discrimination in November 2022…

With the introduction of programs like ChatGPT and Google's Gemini, the integration of artificial intelligence into the advisor technology stack has become a hot topic of discussion in the financial advice community. Although the advent of generative AI applications signals a new era in the evolution of AI, it is worth noting that much of…

With uncertainty surrounding when the first rate cut will come, Jim Jackson, co-chief investment officer and senior portfolio manager of Victory Income Investors, a franchise of Victory Capital Investments, talks about what investors should expect with fixed income in 2024. Jim talks about the importance of credit spreads, what the recent tightening of spreads means…

(Bloomberg) — Webull Financial is now offering futures and commodities trading as investors look for more ways to hedge against price movements without owning an underlying asset. The online brokerage app, which is preparing to go public, is offering the service initially to US investors with plans to expand globally in the future, it said…

Wealthtech private markets platform Opto unveiled a number of product enhancements, including the addition of a new CIO toolkit. This suite of tools, along with pre-trade analysis capabilities and the ability to create custom white-label funds, strengthens its platform for Chief Investment's clients. The changes in leadership positions announced along with these improvements are intended…

of Texas Capital Texas Oil Index ETF (NYSE Arca: OILT ) launched late last year focusing on companies responsible for oil and gas production in the state of Texas. Unlike other funds focused on oil and gas exploration and production, THE OIL ETF weights securities based on oil and gas production as reported by the…

Four years into this SEC regime, a wave of regulatory changes will crash into RIA. Among this wave, two significant rules stand out: the Outsourcing Rule and the proposed FinCEN AML Rule. While these regulations are designed to increase transparency, accountability and safety within the industry, they come at a cost – both in time…