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Jan 24, 2024 | 
portfolio.bisanet.org | Mike Miroballi |Howard Hammond |Rich Blake
Greetings, BISA members!
As we reflect on the challenges and opportunities of 2023, it's evident that the year presented a dynamic landscape for the economy. Inflation concerns, coupled with anticipated rate increases, marked the economic terrain. Despite conflicting data, higher rates and various real estate and banking challenges, the economy exhibited resilience. Notably, the year witnessed the unexpected regional banking crisis, resulting in three of the largest bank failures in U.S. history.
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Jan 23, 2024 | 
portfolio.bisanet.org | Kenneth Corbin |Howard Hammond |Rich Blake
More than two-thirds of the messages from brokerage firms regarding crypto assets reviewed by the Financial Industry Regulatory Authority (FINRA) through a targeted exam program include potential violations of the rules governing communications with the public. The missteps included false or misleading statements, product comparisons without proper context and a failure to clearly explain how crypto assets work.
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Jan 23, 2024 | 
portfolio.bisanet.org | Josh Welsh |Howard Hammond |Rich Blake
According to a Merrill Lynch report, members of the African American and Hispanic communities are confident in their wealth management planning, with 94% and 96%, respectively, saying they have a financial plan in place. That compares to the 91% of the general population who say they don’t have a financial plan.
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Jan 23, 2024 | 
portfolio.bisanet.org | Mason Braswell |Howard Hammond |Rich Blake
The Financial Industry Regulatory Authority’s (FINRA) temporary relief from in-person inspection requirements will expire on May 31, according to a regulatory notice. In its place, FINRA will implement two new rules to govern remote supervision that were approved by the U.S. Securities and Exchange Commission in November.
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Jan 22, 2024 | 
portfolio.bisanet.org | Steve Randall |Howard Hammond |Rich Blake
Following a successful pilot program with eligible advised clients in Vanguard Personal Advisor Wealth Management, the tools from digital estate planning firm Vanilla will be made more widely available to ultra-high-net-worth investors over the next year. The tools give wealthy clients a visualized representation of their current and future estate planning objectives.
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Jan 19, 2024 | 
portfolio.bisanet.org | Davis Janowski |Howard Hammond |Rich Blake
Luma Financial Technologies announced that it has broadened its existing partnership with the private market investing platform Yieldstreet, which facilitates private market investments in alternatives. “Yieldstreet is already very strong from a consumer standpoint and one of the exciting parts for the partnership is getting advisors access to Yieldstreet’s broad offerings,” said Tim Bonacci, CEO and founder of Luma.
Read the full article on WealthManagement.com
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Jan 18, 2024 | 
portfolio.bisanet.org | Sarah Wynn |Howard Hammond |Rich Blake
The U.S. Securities and Exchange Commission (SEC) delayed its deadline to make a decision on Fidelity's proposal for a spot Ethereum exchange-traded fund (ETF) until March 5, according to a filing. Fidelity applied for the Fidelity Ethereum Fund in November, noting in its proposal a court ruling last year where judges said the SEC failed to find a coherent reason on why it should reject spot crypto ETFs when it had allowed futures-based products.
Read the full article on The Block
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Jan 18, 2024 | 
portfolio.bisanet.org | Jeff Cox |Howard Hammond |Rich Blake
The total assets under management in exchange-traded funds and notes along with passively managed mutual funds reached a combined $13.29 trillion at the end of December, according to data from Morningstar, for the first time surpassing active products across all asset classes combined. Just in large-cap blended funds, passive products took in a net $192.8 billion for the year while active funds lost $48.6 billion, Morningstar reported.
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Jan 17, 2024 | 
portfolio.bisanet.org | Howard Hammond |Rich Blake |Tameka Galloway
Listening to the stories and experiences of others can provide greater context and understanding in the struggles and achievements of those who pave the way to a more inclusive and diverse environment.
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Jan 17, 2024 | 
portfolio.bisanet.org | Katherine Doherty |Howard Hammond |Rich Blake
The pass rate for the second level of the chartered financial analyst (CFA) exam remained below its historic average in November. Some 44% of candidates passed the test, unchanged from the pass rate for August’s test-takers and down from 52% in May, the CFA Institute reported. November's results were just below the 10-year average of 45% but above the lows from 2021.
Read the full article on Bloomberg
