InvestmentNews

InvestmentNews has been a trusted source for news and insights critical to financial advisers since 1998. Our weekly publication offers thorough coverage and reliable, unbiased reporting on the financial services sector, giving advisers access to market intelligence that can't be found elsewhere. Today, financial advisers depend on InvestmentNews for the latest updates on events and developments that impact their clients' investments, solidifying our position as the leading news outlet for the financial adviser community.

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CFP Board launches AI-powered exam prep tool

2 days ago | investmentnews.com | Leo Almazora

The CFP Board has launched a new official exam preparation platform aimed at helping future advisors improve their chances of passing the CFP exam. The CFP Exam Prep tool became available May 12 and is the first exam study solution to be released directly by the Board. It incorporates artificial intelligence and microlearning to create a more tailored and interactive study experience.
Bernstein names new head of UHNW wealth strategies group

2 days ago | investmentnews.com | Leo Almazora

Bernstein Private Wealth Management has appointed Ashley Velategui as head of its wealth strategies group, the firm announced Monday. Velategui, who has been with the firm for 18 years, stepped into the role effective May 9. She will lead a team of financial professionals focused on advising high net worth and ultrahigh net worth clients across the US on areas such as financial planning, philanthropy, tax strategy, and implementation of investment plans.
Commonwealth's Messina College partnership opens doors for first-gen students

2 days ago | investmentnews.com | Leo Almazora

Commonwealth Financial Network is extending a hand to first-generation college students with a new internship initiative in partnership with Boston College’s Messina College. The collaboration is set to begin this fall, welcoming 10 students to Commonwealth’s Waltham headquarters. The internships, which will run during the fall semester, are designed to offer foundational exposure to roles across wealth management.
Leading wealth management teams shine in InvestmentNews 5-Star rankings

3 days ago | investmentnews.com | Leo Almazora

In a financial landscape marked by rapid change and rising client expectations, a select group of US advisory firms have proven themselves leaders in trust, innovation, and results. InvestmentNews is proud to unveil its 5-Star Wealth Management Teams for 2025, a special recognition of elite advisory groups making measurable impact for clients and the industry at large.
Just 19 US households controlled 1.8% of total household wealth in 2024

3 days ago | investmentnews.com | Steve Randall

The richest of rich Americans had a stellar year in 2024 as their wealth soared to 1.8% of total US household wealth. The jump in wealth added around $1 trillion to the fortunes of around 19 households or 0.00001%, including those of Elon Musk, Jeff Bezos, and Bill Gates. Total US household wealth last year reached $148 trillion of which the ultra-rich’s share was $2.6 trillion.
Pontera, NTAM, Siebert, announce senior appointments

3 days ago | investmentnews.com | Steve Randall

Several firms have announced senior appointments in the past week, adding strength to their leadership amid a rapidly changing industry landscape. The $1.3 trillion AUM Northern Trust Asset Management has appointed Michael Hunstad, PhD and Christian (Chris) Roth, CFA as global co-chief investment officers. The duo will take up their new roles from June 1, 2025, and will succeed Angelo Manioudakis who is retiring after four years with the firm and an industry career spanning more than 30 years.
Private placement executives from GPB Capital, guilty of fraud, get seven and six years in prison

5 days ago | investmentnews.com | Bruce Kelly

Seven years after GPB Capital Holdings, the high-risk, high-cost private placement manager, began to unravel because of accounting shortfalls, its two senior executives, founder David Gentile, and broker-dealer and sale chief Jeff Schneider, received justice. On Friday afternoon in federal court in Brooklyn Gentile and Schneider were sentenced, respectively, to seven years and six years in prison, according to spokesperson for the Justice Department.
Florida non-compete bill backed by Citadel bodes ill for advisor mobility

5 days ago | investmentnews.com | Leo Almazora

Florida is poised to enact legislation that would permit non-compete agreements to last up to four years – a development that could reshape the employment landscape for high-earning professionals, including financial advisors, in the state. The bill, dubbed the CHOICE Act, was passed by the state legislature on April 24 and awaits the signature of Governor Ron DeSantis. If signed into law, it would take effect in July.
Advisory firm moms share high satisfaction but report early parenthood hurdles

5 days ago | investmentnews.com | Leo Almazora

Mothers working in advisory firms are broadly satisfied with their careers, though the earliest stages of parenthood often present steep challenges, according to new findings from The Ensemble Practice. The firm’s latest survey, which gathered responses from 137 mothers in advisory roles, found that more than half rated their career satisfaction as a 9 or 10 out of 10, while another 41 percent gave scores of 7 or 8. Just 7 percent rated their satisfaction below 7.
Advisor moves wrap: Veteran UBS ensemble managing $2B splits to Sanctuary

5 days ago | investmentnews.com | Leo Almazora

Sanctuary Wealth and Raymond James have announced new additions to their growing advisor networks, with Sanctuary welcoming a $2 billion breakaway team from UBS as Raymond James scoops up a pair of defectors from two rival broker-dealer firms. Sanctuary adds $2 billion UBS breakaway firm On Friday, Sanctuary Wealth announced it has welcomed 1280 Financial Partners, a multistate team managing approximately $2 billion in client assets, to its partnered independence platform.