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Summary: According to a recent LinkedIn survey, 25% of finance professionals are worried about losing their jobs due to automation. Their fears are not misplaced, or unique to the industry. Just as technology hollowed out American manufacturing and eliminated the middle-man in commerce, it’s driving significant disruption and disintermediation on Wall Street.
Added on July 2017 in M&A Issues
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Summary: National Holdings' deal to acquire WFG Investments, an independent broker-dealer, has fallen apart.
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Summary: Influencer marketing is the art of using paid endorsements from people who have attracted sizable and loyal audiences online. In a recent Digiday article about the real cost of influencer marketing, it stated that the going rate for an influencer recommendation was $1000 for every 100,000 Instagram followers they have. YouTube star Pewdie Pie, with his 50 million followers, earns a staggering $15 million dollars a year with endorsements and ad revenue. This is all to prove the point: influencer marketing is a very real thing.
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Summary: Financial adviser Ross Levin recently received an email purporting to be from a client requesting a $50,000 wire transfer for a down payment on an investment property.
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Summary: Despite challenges from the proliferation of robo-advisors and passive investment vehicles, the RIA business is growing at a fairly brisk pace. According to Schwab’s latest RIA Benchmarking Study, the median AUM for RIAs with $250 million or more in assets grew at a 10% compounded annual rate from 2012 through 2016, to $593 million from $358 million.
