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Jun 26, 2024 | 
portfolio.bisanet.org | Logan Hickman |Edward B. Hayes |Leo Almazora
Financial services is a noble industry. We help people prepare for some of life’s biggest moments and transitions: marriage, children, a first home, retirement, aging with dignity and the passing of one’s life savings to the next generation, to name a few.
Still, we must ask ourselves, who are we helping and who might we be leaving out? And do we share the background and lived experiences of the population we aim to serve?
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Jun 25, 2024 | 
portfolio.bisanet.org | Edward Hayes |Logan Hickman |Leo Almazora
Financial literacy is considered an important first step in helping women, who are poised to inherit a majority of the anticipated $30 trillion expected to change hands over the next 20 years, break into the financial service industry.
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Jun 24, 2024 | 
portfolio.bisanet.org | Leo Almazora |Logan Hickman |Edward B. Hayes
Cetera Financial Group named Gwen Weithaus as the new chief compliance officer (CCO) for Cetera Investment Services. Weithaus brings over three decades of experience in the financial services industry. Prior to Cetera, she was vice president of wealth risk and controls at Northwestern Mutual.
Read the full article on InvestmentNews
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Jun 24, 2024 | 
portfolio.bisanet.org | Michael Taffe |Logan Hickman |Edward Hayes |Leo Almazora
An analysis of the locations of wealth management branches reveals a strategic preference for education over income, highlighting the industry's belief in the long-term value of an educated clientele. "They're overlaying their clients' zip codes and addresses and reports on average income," said Scott Smith, director of advice relationships at Cerulli Associates. "I think that will continue.
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Jun 20, 2024 | 
portfolio.bisanet.org | Paul Mulholland |Logan Hickman |Edward B. Hayes |Leo Almazora
The U.S. Department of Labor (DOL) answered one of two open lawsuits in the federal courts challenging the Retirement Security Rule on June 14. The regulator’s first response in court argued that the new rule is compliant with existing case law and is substantially different from a 2016 regulation that was vacated by the U.S. 5th Circuit Court of Appeals.
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Jun 20, 2024 | 
portfolio.bisanet.org | Leo Almazora |Logan Hickman |Edward B. Hayes
MyVest entered a new partnership with Income Discovery, a leading retirement income platform, to bridge the gap between retirement planning and execution. The partnership will integrate MyVest’s Strategic Portfolio System and Income Discovery’s Paycheck solution to provide a more cohesive approach to retirement income management.
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Jun 20, 2024 | 
portfolio.bisanet.org | Aisha Gani |Logan Hickman |Edward Hayes |Leo Almazora
Citigroup Inc. said artificial intelligence (AI) is likely to displace more jobs across the banking industry than in any other sector. About 54% of jobs across banking have a high potential to be automated, the bank said in a new report, while an additional 12% of roles across the industry could be augmented with the technology.
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Jun 20, 2024 | 
portfolio.bisanet.org | Tracey Longo |Logan Hickman |Edward B. Hayes |Leo Almazora
The number of investment advisors reached an all-time high last year, as did total employment in the sector, while assets under management also increased substantially, according to study by the Investment Adviser Association (IAA) and consulting firm COMPLY. Asset management clients also showed continued growth, with the industry working with 56.7 million clients in 2023, a 4.4% increase over last year. The number of total clients also increased by 3.5% over last year.
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Jun 18, 2024 | 
portfolio.bisanet.org | Miriam Gottfried |Alexander Saeedy |Logan Hickman |Edward Hayes
Big banks are targeting midsize companies, moving into territory normally reserved for smaller lenders. Many companies shifted their deposits to bigger banks during last year’s banking crisis, and some regional banks have scaled back lending as they adjust to the impact of higher interest rates. Meanwhile, big banks are going head-to-head with specialized boutiques, recognizing that advising on smaller deals helps them win repeat business from companies as they grow.
