Industry

Municipal borrowers have issued nearly $320 billion of long-term debt so far this year, a 37% increase from the same period a year ago.

Wells Fargo is also named in a separate lawsuit filed this week. In it, a former client services associate alleges she was subject to continued mistreatment from a superior without action from the bank.

The monthly advisor index improved slightly for both the market and the economy.

The lawsuit, which seeks a class action, was filed in New York federal court last week. It follows similar suits brought against UBS, Ameriprise and LPL Financial.

According to the federal complaint calling for a class action, the firm’s policies “maximize profits for UBS while at the same time disregarding its clients’ best interests.”

A consortium led by Peter Nobel investing as much as $25 million in Cardea, which is rebranding to Fourcore Capital.

The nine-person Paradigm Group will open RBC’s first branch in Cincinnati.

The segment is just ahead of interval funds among limited liquidity vehicles, according to Robert A. Stanger & Co.