Global Equities Take a Breather
Volatility permeated global bourses as geopolitics and growth concerns weighed on sentiment. U.S. equities posted their worst one-day decline in mid-August and managed only to recover some losses amid expectations of additional central bank stimulus.
Dynasty Financial Partners Ramps Up New HQ
Dynasty Financial Partners is building out its new headquarters in St. Petersburg, Florida. Mercer Advisors is acquiring Regent Wealth Management Group. Ladenburg Thalmann Financial Services has purchased a stake in Newday Financial Technologies.
AdvisorHub News of the Week - 8/16/2019
There’s more drama surrounding the death of asset manager Jeff Epstein: What’ll happen to his estate? E*Trade Financial is getting a new CEO. . A $3.6 Million UBS team is joining First Republic in New Jersey. To learn more about these stories visit www.AdvisorHub.com for the full length reports from Mason Braswell, Jed Horowitz and the AdvisorHub team.
Treasuries Flash Recession Warning
The main Treasury yield curve has inverted for the first time since the financial crisis, flashing a recession warning to the economy. We explain what it means for stocks and the economy.
Stocks Surge on Tariff Delay
U.S. stocks soared the most in two months after the Trump administration eased back on its trade war with China. Progress in trade talks saw a reversal in sentiment over slowing global growth and muted market reaction to geopolitics.
Volatility Dominates Global Bourses
In a volatile week for equity markets, trade war developments, slowing economic growth and a possible collapse of the Italian government weighed on sentiment.
Allworth Financial Making Moves
Allworth Financial, formerly known as Hanson McClain Advisors, bought Siena Wealth Management. Carson Group added a $180 million dollar firm to its partnership network. Kestra Financial added hybrid firm Alpha Wealth Advisors.
AdvisorHub News of the Week - 8/9/2019
A pair of wirehouse veterans migrated to Morgan Stanley after more than a decade with Wells. And Wells Fargo Advisors hired a Morgan Stanley broker in Texas. Separately, a Morgan Stanley veteran is being shifted from his current post to head a Pennsylvania complex. To learn more about these stories visit www.AdvisorHub.com for the full length reports from Mason Braswell, Jed Horowitz and the AdvisorHub team.
Dow Pauses After Market Selloff
The U.S. stock indexes recovered some losses after the worst day for equities in 2019. China’s central bank signaled it wouldn’t let the yuan fall further amid escalating trade tensions.
Stocks Pull Back on Trade Jitters
U.S. equity markets extended losses on trade tensions and the aftermath of the July Federal Reserve meeting. Trump announced that the U.S. would impose 10% tariffs on $300 billion of imported Chinese goods.
AdvisorHub News of the Week - 8/2/2019
A Former Top 100 Female Advisor is behind bars after using client money on everything from astrological gems to “Hoodoo” spells to a $500,000 Dallas Cowboys suite. Brokerage veteran David Kowach will soon be in charge of Wells Fargo’s 5,400 retail bank branches. Don Marron’s private equity firm Lightyear Capital is selling its majority stake in the fast-growing RIA aggregator Wealth Enhancement Group To learn more about these stories visit www.AdvisorHub.com for the full length reports from Mason Braswell, Jed Horowitz and the AdvisorHub team.
Steward Partners Opens Fifth New Office of 2019
Hybrid RIA Steward Partners recruited a team of Merrill Lynch brokers to open a new office in Austin, Texas. Stearns Financial Group is testing its initiative for millennials - the ‘Emerging Affluent Platform.’ Sanctuary Wealth added a former UBS broker in San Francisco.