Best Summer ever? Markets set new record all-time highs (S&P 500 3,013 and DOW 27,333)
Trump, not a fan of Bitcoin (BTC $10,200)
Record Quarter for RIA Deals, according to Echelon Partners: there were 52 mergers or acquisitions involving RIAs in 2Q 19', up from a previous high of 49 in 1Q 19' viaMichael Thrasher
SEC and FINRA Issue Statement on Crypto Custody
According to the joint statement, the organizations have yet to discover a set of circumstances in which a crypto custodian could comply with the SEC’s Customer Protection Rule. Read more on CoinTelegraph...
Cybersecurity Threats Remain Top RIA Concern In 2019
According to a joint survey of 369 RIA firms by the Investment Advisers Association (IAA) and ACA Compliance Group, 83% of RIAs called cybersecurity the “hottest” compliance topic and more than 70% indicating that they increased compliance testing in this area over the past year.
Wealth management platform AssetMark Financial sets terms for $250 million IPO
According to AssetMark's website, "AssetMark provides investment solutions to financial advisors specifically tailored to help investors achieve their life goals."
AssetMark serves approximately 137,000 investor households through 7,600 advisor relationships, according to its SEC filing. The firm grew 23% year over year with sales of $364 million in 2018.
"Another Cannabis ETF Sparks Up" via Benzinga (Read Now)
$THCX now joins $MJ and $YOLO in the cannabis ETF club. Stifel analyst Andrew Carter recently published a report proclaiming global Marijuana sales may hit $200 billion within a decade. In 2019, expected worldwide sales are predicted to reach $15 billion.
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