Platform technology provider and Octopus-owned custodian Seccl has launched instant deposits, allowing client payments made by bank transfer to clear and invest instantly. To provide the service Seccl has integrated with Lloyds Bank’s new event driven notification API in order for clients of Seccl-powered platforms to transfer money to their platform account immediately which can […]
Archives for 2021
10-year Treasury yield rises slightly ahead of key inflation report
The 10-year Treasury yield rose slightly early on Thursday but remained below 1.5%, with key inflation data due out later in the morning. The yield on the benchmark 10-year Treasury note rose less than a basis point to 1.498% at 4 a.m. ET. The yield on the 30-year Treasury bond edged higher to 2.173%. Yields […]
Shift away from fixed rate method for drawdown calculations
When advising on income drawdown, there has been a shift away from a fixed rate method with more advisers now preferring modelling tools. Over a third (38%) of financial advisers surveyed by Aegon said they prefer using modelling tools when advising on safe income drawdown withdrawal rates, an increase from 28% over last year. The […]
The U.S. will be a ‘formidable competitor’ to China in Covid vaccine diplomacy, professor says
Workers unload boxes containing the Sinopharm Covid-19 vaccine, donated by China, at the Damascus International Airport on April 24, 2021, in the Syrian capital. Loua Beshara | AFP | Getty Images U.S.-China competition may be heating up on another front: Covid-19 vaccine diplomacy. China has been a major Covid vaccine supplier to much of the […]
Rising optimism outweighs concerns about labor shortages, inflation
Finance leaders in the United States have a growing sense of economic optimism, according to the latest AICPA Business and Industry Economic Outlook Survey, but it’s complicated by worries about inflation and labor shortages. All nine components of the CPA Outlook Index showed signs of improvement in the survey of 770 CPA decision-makers, which was […]
Democrats circulate draft antitrust bills that could reshape Apple, Amazon, Facebook and Google
U.S. House Impeachment manager David Cicilline (D-RI) speaks on the second day of former President Donald Trump’s second impeachment trial at the U.S. Capitol on February 10, 2021 in Washington, DC. congress.gov via Getty Images A group of House Democrats is circulating discussion drafts of antitrust bills that would force the biggest tech companies to […]
Wealthy Florida grandma reignites multimillion-dollar battle against two former JPM brokers — her grandsons
So much for trying to make amends with family. A multimillion-dollar battle has flared up again between a wealthy Florida grandmother and her two grandsons whom she accused of mishandling her money while working at J.P. Morgan Securities, a new court filing shows. Beverley Schottenstein, 94, the heir to a retail empire that grew to […]
LemonEdge raises $2.5m to digitise accounting for PE industry – Finextra
LemonEdge, a London-based startup that helps firms in the private equity and financial services industries digitise complex accounting, has raised $3.5 million. The oversubscribed round was led by Sidekick Partners and joined by Tikhon Bernstam, founder of Parse and Scribd, and Lauren Iaslovits, founder of Investra. LemonEdge (formerly LemonTree Software) says that its low code […]
Wealth Enhancement Group to buy 4th billion-dollar RIA in 6-month span
In a deal that will push its tens of billions of dollars in client assets to more than triple the size of two years ago, a private equity-backed hybrid RIA is purchasing another massive practice. Hoover Financial Advisors agreed to fold into Wealth Enhancement Group under a transaction with an undisclosed price tag that’s expected […]
Wealth Enhancement Group to buy 4th billion-dollar RIA in 6-month span
In a deal that will push its tens of billions of dollars in client assets to more than triple the size of two years ago, a private equity-backed hybrid RIA is purchasing another massive practice. Hoover Financial Advisors agreed to fold into Wealth Enhancement Group under a transaction with an undisclosed price tag that’s expected […]