Prices pull back as inventory holds steady The median sales price of new homes sold in June fell to $398,300. That’s down 3.3% from May’s $412,000 and 2.7% below the June 2025 figure of $409,200. The average sales price retreated, dropping 9.5% month over month to $475,400 from $525,200 in May. Brokers advising clients on…
Fidelis Capital, a Tampa, Fla.-based registered investment advisor founded by former bank-based advisors, has hired Herb Achey from U.S. Trust/Bank of America Private Bank to develop investment strategies for its ultra-high-net-worth clients, the RIA announced. Achey becomes the firm’s 13th partner since its launch in 2022 by founders Neale Ellis, formerly of U.S. Trust, and…
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It’s hard to believe now, but Bitcoin (BTC -2.05%) once traded for fractions of a penny. Of course, Bitcoin’s price soared to over $100,000 at its peak. Early adopters saw small sums grow into life-changing fortunes, launching a conversation about cryptocurrencies as a mainstream investment asset. But the ride hasn’t been as fun in recent…
Charles Schwab reported earnings that topped estimates on Tuesday, driven by retail investor trading. Firm leaders also said a small percentage of revenue is driven by a tax-advantaged long-short investment strategy popular with advisors, even as they noted continued demand for the offering. As a result of that investor trading splurge, Schwab reported a record…
Billionaire hedge fund manager Ken Griffin now controls a full city block in Miami’s desirable Brickell financial district following a unanimous vote by the City of Miami Commission to approve the sale of a historic site to the Citadel CEO. The nearly $3 million transaction centers on the land beneath the historic James Jackson Cottage,…
Marcus & Millichap announced that Deferred, the first and only technology-powered qualified intermediary transforming 1031 exchanges for everyday real estate investors, has joined Marcus & Millichap’s Preferred Partner Program as a provider of 1031 exchange solutions. The relationship is designed to provide Marcus & Millichap’s clients with streamlined access to qualified intermediary services and technology-enabled 1031…
The ETF landscape continues to grow in leaps and bounds, with active ETFs playing an increasingly bigger role. Goldman Sachs is helping drive this evolution by leveraging its deep research and quantitative capabilities to innovate within the space. Leaders from Goldman Sachs Asset Management recently joined a VettaFi webinar to showcase this approach with their…
Transcription: Transcripts are generated using a combination of speech recognition software and human transcribers, and may contain errors. Please check the corresponding audio for the authoritative record. Penny Crossman (00:11):Hi, I’m Penny Crossman, tech editor at American Banker, and I am here with Kara Kennedy, who is global co-head of Connexus, which is JP Morgan…