By Asset Allocator Journal Staff According to the Federal Reserve, enforcement actions against Synovus Bank and Signature Bank have been formally terminated, signaling both institutions have corrected past supervisory deficiencies. The Fed notes the closures follow successful remediation of credit, liquidity, and risk management issues. This marks the conclusion of long-standing oversight efforts. The Financial […]
Hot Topics
Scottsdale’s Wealth Surge: Arizona City Ranks Among World’s Fastest-Growing Millionaire Hubs
Scottsdale, Arizona, is cementing its status as a global wealth magnet, with a 60% surge in its millionaire population from 2013 to 2023, according to a Henley & Partners report visualized by Visual Capitalist. For Scottsdale’s wealth managers, this boom presents a golden opportunity to cater to a growing cadre of high-net-worth individuals (HNWIs) drawn […]
Daily News Roundup
By Asset Allocator Journal Staff A recent ruling detailed by WealthManagement.com found that a $2 million bequest to a spouse failed to qualify as a QTIP trust because the required statutory language was not incorporated into the trust document. The U.S. Tax Court emphasized that taxpayer intent is not sufficient without compliance with Internal Revenue […]
America’s Wealth Boom: Miami, Austin, and Scottsdale Among World’s Fastest-Growing Wealth Hubs
The United States is experiencing a wealth surge, with cities like Miami, Austin, and Scottsdale ranking among the world’s fastest-growing millionaire hubs over the past decade, according to a new report by Henley & Partners, visualized by Visual Capitalist. As global wealth shifts, these U.S. cities are drawing high-net-worth individuals (HNWIs) with their tax advantages, […]
Daily News Roundup
By Asset Allocator Journal Staff According to Advisor Perspectives, the May 2025 jobs report showed a resilient labor market, with 139,000 jobs added and the unemployment rate steady at 4.2%, offering relief to investors concerned about economic slowdown. Despite policy uncertainties, hiring remained consistent, though finance and tech sectors faced challenges for recent graduates. The […]
Daily News Roundup
By Asset Allocator Journal Staff Yale’s $2.5 billion sale of private equity stakes is testing the endowment model it helped popularize, per Advisor Perspectives. The deal includes buyout, venture, and growth equity funds, and is among the largest ever by a U.S. university. It may reflect shifting liquidity needs and evolving investment priorities. The sale […]
Coinbase’s S&P 500 Inclusion: A New Frontier for Wealth Managers
The S&P 500’s inclusion of Coinbase Global, Inc. (NASDAQ: COIN) as its first cryptocurrency-focused constituent marks a pivotal moment for wealth managers, introducing crypto exposure to client portfolios tracking the benchmark index. Effective today, Coinbase replaces Discover Financial Services (NYSE: DFS), compelling advisors to navigate the opportunities and risks of digital assets within the traditionally […]
Daily News Roundup
By Asset Allocator Journal Staff A stronger-than-expected U.S. jobs report for May weighed on Treasury markets, Advisor Perspectives reports. Nonfarm payrolls increased by 139,000, beating expectations and signaling persistent labor market strength. As a result, yields rose across the curve and market odds of a near-term Fed rate cut diminished. The Financial Times details how […]
Daily News Roundup
By Asset Allocator Journal Staff The U.S. trade deficit narrowed to $73.8 billion in April, the smallest since September 2023, down from $75.1 billion in March, according to Advisor Perspectives. Exports increased by $2.1 billion to $263.7 billion, driven by civilian aircraft and industrial supplies, while imports fell $1.9 billion to $337.5 billion due to […]
Daily News Roundup
By Asset Allocator Journal Staff Business Matters Magazine reports that UK steelmakers have narrowly escaped an immediate 50% US tariff due to a negotiated deal that reduced tariffs on UK metal imports to zero. However, ongoing trade talks between the UK and US remain precarious, exacerbated by broader US-China trade tensions, creating significant uncertainty for […]