Creative Planning Sells Minority Stake to TPG
Private equity’s hunger for wealth management is insatiable. The massive registered investment advisor Creative Planning announced a PE investment from the buyout firm TPG that could value the...
View ArticleMastercard Buys Startup That Will Help You Manage Pesky Subscriptions
Does this sound like the life you subscribe to? In a single day, a hypothetical person could wake up, brew some coffee delivered by MistoBox, read The Wall Street Journal, work out at their local...
View ArticleJPMorgan to Open Nearly 100 Chase Branches in Low-Income Neighborhoods
Even in the desert, flowers bloom. The same is true for so-called banking deserts, or communities that lack adequate access to financial services. On Wednesday, JPMorgan Chase announced it will cut...
View ArticleWells Fargo Cloud Patent Could Fight Data Security Risks
Wells Fargo wants to make sure you can trust the cloud. The financial institution filed a patent application for a “cloud residual risk assessment tool.” Its filing describes a way to identify...
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Weathering the Storm: A Q&A with Vanguard on Market Volatility
There was a pandemic, a financial crisis and recovery, a supply chain crisis, and the so-called retail apocalypse. War broke out and sparked a global energy crisis. Historic inflation paved the way...
View ArticleJPMorgan Patent Could Add Guardrails to AI in Banking
As JPMorgan Chase plows ahead with AI integrations, it may be eyeing some guardrails. The financial firm filed a patent application for “determining machine learning model anomalies” and their...
View ArticleHow Clients Can Invest in NFL Teams
Investors can now not only wager on the hottest NFL games, but place investment bets on their favorite franchises, too. The National Football League is one of the last major global sports leagues to...
View ArticleTD Bank Accepts Cap on US Growth, $3 Billion in Penalties After Failing to...
It’s like a Canadian adaptation of “Breaking Bad.” TD Bank, the US subsidiary of financial giant Toronto-Dominion Bank, pleaded guilty Thursday to conspiracy to commit money laundering for criminal...
View ArticleEY Delays New Hires’ Start Dates Due to Lackluster Deal Environment
Maybe Ernst & Young should have hired a consultant before making any promises. The Big Four accounting firm informed around 200 recent graduates hired for its Parthenon advisory division that...
View ArticleMastercard Blockchain Patent Could Make Financial Audits Easier
Mastercard wants to set the record straight. The credit card giant filed a patent application for “transaction processing with complete cryptographic auditability.” This adds a layer of trackability...
View ArticleBig Brokers Beat Estimates in Strong Start to Earnings Season
Everybody’s a winner. Earnings season for Wall Street’s biggest names kicked off in earnest last week and got off to a good start as JPMorgan Chase, Wells Fargo, BlackRock, and BNY all beat analysts’...
View ArticleTrading Windfall Pushes Wall Street to Surprisingly Strong Quarter
Nothing but sunshine it was not. Wall Street banks entered the third quarter amid both rising debt levels and credit card delinquency rates. Then, in early August, they saw the S&P 500 dip 8.5%....
View ArticleDon’t Celebrate the 2-Year Bull Market Just Yet
The two-year anniversary of the bull market grabbed headlines last week, but it also came as a reminder that not all ETFs are created equal. Sure, the S&P 500 keeps hitting all-time highs, up 62%...
View ArticleBlackstone Thinks It’s High Time for a Public Listing Blitz
The IPO market may seem dead in the water, but Blackstone can be forgiven for feeling invincible. On Thursday, amid a strong earnings call, the private equity giant announced that it is planning to...
View ArticleSay Goodbye to the Era of Towering S&P 500 Gains, Says Goldman
Hey, Goldman Sachs, in case you haven’t noticed, that raging mammal made of bronze down the street from you is not a bear. The financial giant’s equity strategy team forecasts that America’s blue...
View ArticleHSBC Announces Dramatic Makeover That Splits Lender East and West
They tried East meets West; now, they’re just doing their best. HSBC, long one of the world’s most active cross-border lenders, announced a sweeping restructuring Tuesday that will cut costs and, if...
View ArticleThe NYSE Wants to Go 22/5 on Its Arca Exchange
Wall Street has a lot of people born with silver spoons, but it may soon operate more like an all-night greasy spoon. The NYSE said Friday that it plans to extend trading hours for equities on its...
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Do Elections Matter to Markets?
Will the presidential election impact the markets? It all depends on who you ask. For BlackRock founder and CEO Larry Fink, the answer is a resounding no. The leader of the world’s largest asset...
View ArticleTrump’s Deregulation Promises Could Spell M&A Glory, Or Not
The deal-making vibes on Wall Street were strong after the author of “The Art of the Deal” won his bid to return to the White House. Shares of major asset managers Apollo Global, KKR, and Blackstone...
View ArticleThe Crypto Industry Spent Big This Election. Now Comes the Payoff.
You bet your bottom Satoshi they’re happy. Donald Trump’s victory in the US presidential election appears likely to send the cryptocurrency industry into a bonafide golden era. That’s big news for...
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