The immediate market reaction to President-elect Donald Trump's victory has included a rally in stocks, a strengthening dollar, higher Treasury yields and a surge in Bitcoin and other cryptocurrencies. However, advisers are cautioning clients against making any immediate adjustments to investment allocations until there is more clarity about the administration's top priorities around tariffs, tax…

Wealth Enhancement Group, a Minneapolis-based registered investment advisor, has acquired M&R Capital Management, a Summit, NJ-based RIA with more than $536 million in client assets. This represents WEG's 15th deal this year, bringing its total client assets to more than $96.6 billion. M&R was founded in 1993 by John Maloney, CEO and Chairman, and Alan…

The financial services industry has always been driven by data, but in an era of economic uncertainty, the pressing question is whether firms are using that data to its fullest potential to drive growth. As market fluctuations and unpredictable economic conditions become the norm, financial institutions must look beyond traditional methods to maintain a competitive…

A federal judge reaffirmed his earlier ruling that Morgan Stanley's deferred compensation plans fall under federal mandates in a wiretapping strike. The ruling by New York Southern District Court Judge Paul Gardehpe is the latest development in a years-long class action lawsuit brought by a group of former Morgan Stanley advisers. The group accused the…

Axos Clearing, the clearing and custody arm of Axos Financial, this week announced a strategic partnership with Envestnet. The partnership will see Envestnet's managed account solutions integrated into Axos Clearing's Axos Complete, its workstation for registered investment advisers, hybrid advisers and independent broker/dealers. (Axos itself already provides trade execution, account management and compliance tools for…

Adam Antoniades, who has served as CEO of Cetera Financial Group since December 2019, will retire from his role at the independent broker/dealer network at the end of this year, the company confirmed. Mike Durbin, CEO of Cetera's parent company, will take over Antoniades' position. Antoniades, 59, will continue to serve on Cetera's board of…

A trio of active investment managers have formed a joint venture to offer customized ETF models to financial advisors. Burney Company, which specializes in American stocks; Rayliant, which specializes in ex-US equities, particularly emerging and Asian markets; and Clough Capital Partners, which specializes in alternatives, have launched Powered by ETFs. Models will be built to…

As a general rule, the longer your investment time horizon, the greater your ability to distribute a significant portion of your stock investments. However one last survey found that high-net-worth investors 43 and older are allocating just 28% of their portfolios to publicly traded stocks, about half the exposure of older investors. Meanwhile, Gen Z…

Fifth Third Wealth Advisors, a registered investment advisor launched by Fifth Third Bank in 2022, has added a team of three advisors that managed $2 billion at TIAA-CREF. Advisors Scott Bailey, Scott Cislo and Murray Kinlaw have joined Fifth Third Wealth Advisors as managing directors. Kinlaw and Cislo will be based in the new Charlotte,…

Donald Trump won the 2024 US presidential election by a decisive margin for a second term. His Republican Party will hold a majority in the US Senate and – at the time of this report – appears to have a majority in the US House of Representatives as well. On November 6, 2024, the day…