Group will open office for firm in downtown Cincinnati, Ohio.
Buybacks are diverting cash companies should be using to make capital investments, GOP senator says.
Passive mutual funds, ETFs and smart beta funds held $2.93 trillion in assets in Q4.
Letter cites proposal's 'weak and incomplete' economic analysis.
Purchase will allow Morgan advisers to court tech workers as they start to accumulate wealth
ETF fees have fallen, but so far no providers have matched Fidelity's offer of free mutual funds
Discussions ended in December because the parties couldn't agree on a price.
Investors are moving out of ETFs to buy single stocks, with active bets seen as the key to outperformance.
The firm is shutting three funds next month following a review of its product lineup.
Employees who handle refund processing were furloughed for most of that time.
