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