Wall Street lore says a shoeshine boy gave Joseph Kennedy a stock tip just prior to the great crash of 1929, and it so unnerved the future presidential patriarch that he immediately cashed out his multimillion-dollar portfolio.

Overland Park-based Prime Capital Investment Advisors sold a minority stake to Boston based private equity firm Abry Partners for an undisclosed amount.

A hybrid registered investment advisory firm that has grown nearly tenfold over the last half-dozen years received a private equity infusion enabling further expansion.

Executives say the funding will fuel the next stage of growth for PCIA, which has already expanded assets by some 700% since early 2018.

Stocks fell Friday as investors worried that a cooler-than-expected jobs report still isn’t enough to keep the Federal Reserve from continuing to raise interest rates.

AdvisorHub just named Jason Noble as one of their top 100 solo advisors to watch for 2023. There were 374 advisor names from around the nation who were submitted for consideration to AdvisorHub.

All 23 banks tested remained above minimum capital requirements during a simulated recession that projected total losses of $541 billion.

After 10 consecutive interest rate hikes, the central bank’s Federal Open Market Committee (FOMC) made the widely expected move of leaving interest rates unchanged when it concluded its regularly scheduled two-day policy meeting on Wednesday.

CIO Scott Duba shared his reaction to recent market trading action with The Wall Street Journal noting tech’s influence on the broader rally and why investors are likely taking a pause ahead of the next FOMC meeting.

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