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$1.9B Merrill Lynch Advisor Exits To Launch Firm With Summit

by FA Staff

SRM Private Wealth operates in Pasadena, Calif.

Bank Leaders Say Real Estate Pain Is Still Confined To Office

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Commercial real estate is “fine” outside of office lending, one bank executive said.

Outsized Magnificent 7 Performance Reminiscent Of 1999, Orlando Says

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At some point, Federated's Phil Orlando expects a shift away from growth towards value stocks.

Popular Hedge-Fund Trade Pushes Bitcoin-Futures Shorts To Record

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The basis trade seeks to profit between discrepancies in spot and futures markets.

Nvidia Eclipsing Apple Threatens Radical Shakeup Of $67 Billion ETF

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Nvidia's weight in the Technology Select Sector SPDR Fund could go from 6% to 21%.

Fed's Higher-For-Longer Stance Hits Firms That Expected Rate Cut

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Bankruptcies are up and capital investments in manufacturing have slowed.

Pimco Warns Of More Regional Bank Failures On Property Pain

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High borrowing costs have hammered valuations and triggered defaults in the sector.

Hedge Funds Pile Into Copycat Quant Trades They Once Derided

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Hedge funds are becoming a major driver of the boom in what are known as quantitative investment strategies.

Industry Group Asks For Speedy Decision In Its Suit Against DOL Rule

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The Federation of Americans for Consumer Choice asked a judge to rule on its request for an injunction by July 26.

States Stepping Up Efforts To Tax Former Residents, Advisors Say

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States are in some cases trying to slap a tax on stock sales that happen after a taxpayer leaves.

Why U.S. Financial Markets Are Cruising Through A Long Fed Hold

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There appear to be three main reasons for the economy's resilience in the face of elevated interest rates.

Great 'Bear Market' In Diversification Haunts Wall Street Pros

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Money managers who have stuck a diversification strategy are on a long losing streak.

Cresset Acquires 130-Year-Old Multifamily Office, Brings Assets To $52B

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The Connable Office of Kalamazoo, Mich., adds $1.6 billion to Cresset's total assets under management.

Former Merrill Advisor Arrested For Allegedly Stealing $2.7M From Clients

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Jared Dean Eakes of Jacksonville, Fla., pleaded not guilty to federal charges that he scammed his clients in 2019 and 2020.

El-Erian Says Strong Jobs Data Closes Door On July Fed Rate Cut

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The economist expects the Federal Open Market Committee will only signal one rate cut for this year.

Why High Schoolers In The Northeast Are Flocking South For College

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Students from the Northeast are looking South for cheaper tuition, big-time sports and less politically charged campuses.

Ex-Merrill Advisors Launch $1B Advisor Firm In California

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Alteri Wealth's founders say they will offer family office services to ultra-wealthy clients.

Trump Tax Cut Renewal Is Winning Wall Street, But Could Cost $4.6 Trillion

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The nation's debt load and interest costs would create a heavier burden this time around, analysts say.

Payrolls And Wages Pick Up, Pushing Back Bets For Fed Cuts

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The job market has largely defied expectations in the past two years.

Ameriprise Seeks Restraining Order Against LPL And Father-Son Duo

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Ameriprise Financial Services claims Mitchell and Wesley McCann took confidential information after a move to LPL.

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