Economy & Markets
The important economic and stock market news that advisors need to know.
Senate Democrats Call for $30 Billion to Boost COVID-19 Testing
By Melanie WaddellWidespread testing is crucial to reopening the economy, the senators say.
April 14, 2020
RIA Channel Growth Soaring as More Advisors Break AwayMost employee advisors who want to switch firms say they would prefer to go indie, Cerulli reports.
April 14, 2020
Treasury Releases Small-Business Loan Guidance for Independent Contractors"Now sole proprietors, independent contractors and gig workers can clearly have a path" to a loan, said advisor Leon LaBrecque.
April 14, 2020
Wells Fargo Q1 Profits Drop 90%The number of advisors fell by 378 from last year; meanwhile, JPMorgan's net income declined nearly 70%.
April 14, 2020
Fund Managers at Highest Cash Levels Since 9/11: BofA SurveyMost fund managers expect a U- or W-shaped recovery, Bank of America Global Research reports.
April 14, 2020
UBS Is Helping Small-Business Wealth Clients Get PPP LoansThe PPP loans will be made though the Newtek Business Services Corp. and UBS Bank.
April 13, 2020
Fidelity Plans to Hire 2,000 PeopleThe firm is experiencing growing demand for services from existing clients during the COVID-19 pandemic.
April 13, 2020
RIA M&A: Strong in Q1, but COVID-19 Set to Take a TollDeVoe & Co., Echelon and Fidelity share their predictions of what lies ahead for advisor deal-making in 2020.