(Bloomberg) — EF Hutton, the Wall Street household name that was reborn as a leading SPAC investment bank, is splitting up after the two partners who revived the brand agreed to drop lawsuits against each other and hit the road theirs. The firm said in a statement released Sunday that Joseph Rallo and David Boral…

Hightower has agreed to acquire a majority interest in NEPC, an institutional consulting firm and chief investment officer (OCIO). The deal will bring institutional research and investment capabilities to Hightower Advisors. With the addition of NEPC, Hightower and its affiliates will represent over $1.8 trillion in assets under advisement and $258 billion in assets under…

The Securities and Exchange Commission charged New York-based investment adviser WisdomTree Asset Management Inc. for making anomalies and for compliance failures in relation to the way it managed the funds it traded including environmental, social and governance factors. According to the SEC order, from March 2020 to November 2022, WisdomTree invested in companies involved in…

LPL Financial's board of directors has named Rich Steinmeier, former managing director and chief growth officer, as its new chief executive officer, effective immediately. Steinmeier had served as interim CEO since Oct. 1, when the board left by President and CEO Dan Arnold for violating the company's respectful workplace policies. Steinmeier was also elected to…

Examiners at the Securities and Exchange Commission are investigating the integration of AI advisors into their operations, including portfolio management, trading, marketing and compliance. Under the SEC's Division of Examinations' Priorities for 2025, released Monday, examiners can examine firms' “compliance policies and procedures” related to AI-related services or procedures and their disclosures to investors. Related:…

Miramar Capital co-founder and senior portfolio manager Max Wasserman shares some great insights about dividend investing. Max discusses with Zephyr Market Strategist Ryan Nauman the impact that lower interest rates are having on the investor mindset, misconceptions about dividend investing, and how dividend stocks are no longer just utilities or telecommunications companies. Additionally, Max and…

In this episode of the Wealth Management Invest podcast, host David Bodamer sits down with Bob Long, CEO and partner of StepStone Private Wealth, to explore the company's approach to developing private market investments for the wealth channel. Long discusses why Stepstone has chosen evergreen funds — semi-liquid, continuously invested structures — over traditional drawdown…

One of the common criticisms of the traditional financial system, especially after events such as the 2008 financial crisis, is the lack of transparency and the inability of different sectors to share information effectively. Financial institutions have become so large and complex that it is nearly impossible to fully understand the risks and liabilities they…

A tax tussle is brewing and policymakers are engaged in war sessions ahead of next year's $4.6 trillion fiscal cliff. Lately, much of the focus has been on the tax proposals of the presidential candidates, who are aiming to win votes in November. Congressional lawmakers certainly take cues from their party leaders, but presidents don't…

A sea change is marked by a radical transformation that requires a comprehensive renewal of the strategies, systems, processes or structures of a business. This significant change is often prompted by major market changes or threats to the organization's survival. The naysayers who believe that the convergence of wealth, retirement and benefits is a fad…