Results for "money managers"

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Schwab risks blowing up the brokerage model it built

October 2, 2019

Not too long ago, Charles Schwab Corp. helped to usher in the golden age of low-cost, online stock trading. Now, the brokerage may help to kill off the fee-based business model altogether. On Tuesday, Schwab said it will eliminate commissions...

Vanguard pilots digital-only financial planning and advice product

September 18, 2019

Vanguard Advisers have filed an initial disclosure brochure with the Securities and Exchange Commission signaling the company's plan to launch a new, digital-only financial planning and automated investing service it calls Vanguard Digital Advisor....

Ariel's Mellody Hobson says women, minorities should 'speak their truth' instead of trying to blend in

September 19, 2019

In July, Mellody Hobson was promoted to co-chief executive officer of Ariel Investments in Chicago, a company she initially joined as a college intern in 1989 and has served as president since 2000. Ms. Hobson, 50, takes seriously her status...

The road to independence: Attracting and retaining clients

August 19, 2019

After 15 years with one wirehouse and five years at another, Don Garman wrote a seven-figure check to release himself from an employment contract so he could start his own Registered Investment Advisor (RIA) firm, Mirador Capital Partners, in...

SEC affirms its authority over proxy advisory firms that CEOs hate

August 21, 2019

The Securities and Exchange Commission took an initial step Wednesday to lay out legal limitations for a powerful industry that's known for questioning companies' decisions on executive pay and business strategy. At a meeting in Washington,...

Fidelity drops Goldman, brings securities lending in-house

May 14, 2019

Fidelity Investments is cutting out its middleman — Goldman Sachs — when dealing with Wall Street short sellers. The money manager is bringing its stock-lending business in-house, according to a March 29 regulatory filing, instead of paying...

Captrust acquires $3.7 billion San Antonio-based RIA

August 22, 2019

Captrust Financial Advisors, a Raleigh, N.C.-based registered investment adviser managing more than $9.6 billion in assets, will acquire South Texas Money Management, a San Antonio-based RIA firm managing $3.7 billion in assets. [More:​ MAI...

Asset managers hit by ever-rising costs as fees drop

June 25, 2019

Asset managers can add rising regulatory and technology costs to their list of woes as they struggle to expand revenue amid pressure to lower fees and expenses. Non-compensation costs, which also include back-office processing and office space,...

Vanguard to end its small cash-management service

March 4, 2019

Vanguard Group will end a service for larger customers on July 31 that lets them write checks and pay bills from a Vanguard account. The VanguardAdvantage program was launched in 2002 as a way to compete with banks. Customers who had between...

New York IBD to acquire $2.5B Boston hybrid

August 27, 2019

National Holdings Corp., a New York-based independent brokerage, investment banking and asset management firm, is acquiring Winslow Evans & Crocker Inc., a Boston-based employee-owned hybrid firm managing $2.5 billion in assets. The transaction...

Money management for social media stars

July 17, 2019

Jenn Im started making YouTube videos as a hobby nine years ago, a way to express her love for turning thrift-store finds into stylish outfits. (More:​ Millennial women take back seat when it comes to their own finances, UBS survey says) Creating...

Vanguard social-investing error prompts funds to check controls

August 22, 2019

Managers overseeing trillions in exchange-traded funds have been quietly meeting around Wall Street this week to check the quality controls on their funds, rattled after Vanguard Group Inc. mistakenly added shares of 11 companies, including...

Why Pimco fixed-income fund fell as long bonds rallied

August 19, 2019

The rally that lifted long-term U.S. bonds this month eluded the world's largest actively managed fixed-income fund. Dan Ivascyn's $130 billion Pimco Income Fund lost 1.07% since July 31. Its benchmark, the Bloomberg Barclays U.S. bond aggregate...

BlackRock leads October slide in stocks of asset managers

October 30, 2018

It's been a cruel month for U.S. asset managers. BlackRock Inc., State Street Corp. and rivals have seen their shares take a hit as jittery institutional investors have seized up in choppy markets. The other culprits: weak fee revenue and lackluster...

Vanguard's got its own 'Apple' problem

January 25, 2013

At first glance, the largest company in the world and the largest mutual fund company in the world wouldn't seem to have much in common. Apple Inc. grew to the biggest company on the planet by pumping out hip and sexy products that were gobbled...

Franklin Templeton fund biggest loser as Argentine assets plummet

August 14, 2019

The dramatic decline in Argentine assets is wreaking havoc on some of the largest U.S. money managers. (More: The 4 biggest risks for US equity investors) Funds with high exposure to the South American nation tumbled Monday after President Mauricio...

Midsize asset managers face a squeeze

July 6, 2018

Rumors of the demise of medium-sized asset managers have proved to be greatly exaggerated, so far. But in the next five years, a combination of rising costs, a stagnant pool of profit and dwindling revenue will hasten a divide in the industry...

Former Morgan Stanley rep barred for using customer funds

June 14, 2018

A former Morgan Stanley broker, who was discharged in 2016, has been barred by the Financial Industry Regulatory Authority Inc. for making improper use of a customer's funds. Finra said that between April and July 2016, Justin Travis Mair "converted"...

Wells Fargo loses veteran $500 million team to SunTrust

May 30, 2018

A four-person team managing $500 million at Wells Fargo in Charleston, S.C., has moved to SunTrust Private Wealth Management. The team is led by Wells Fargo veterans Jeff Pratt and Bryan Kazley, who were with the firm and its predecessor companies...

Carlyle's David Rubenstein starts family office

May 29, 2018

David Rubenstein's love of historical documents runs deep. The billionaire co-founder of Carlyle Group owns a copy of the Magna Carta from 1297, a rare facsimile of the Declaration of Independence and an Emancipation Proclamation signed by Abraham...

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