Invesco Ltd. is in talks with State Street about a merger with State Street Global Advisors, the Boston-based bank’s asset management business, according to a source quoted by Reuters.
The Wall Street Journal broke the news of a possible transaction, which would involve the State Street unit managing $4 trillion in assets, much of which is invested in its SPDR series of exchange-traded funds.
Last week, State Street said it is buying the investor services business of Brown Brothers Harriman for $3.5 billion.
In 2017, Invesco Ltd. agreed to purchase Guggenheim Partners’ ETF business in a $1.2 billion deal. And in 2018, it agreed to pay Massachusetts Mutual Life Insurance Co. about $5.7 billion to acquire its OppenheimerFunds, which specialized in picking stocks and bonds, particularly in the international arena.
While industry statistics pointing to a succession crisis can cause alarm, advisor-owners should be free to consider a middle path between staying solo and catching the surging wave of M&A.
New joint research by T. Rowe Price, MIT, and Stanford University finds more diverse asset allocations among older participants.
With its asset pipeline bursting past $13 billion, Farther is looking to build more momentum with three new managing directors.
A Department of Labor proposal to scrap a regulatory provision under ERISA could create uncertainty for fiduciaries, the trade association argues.
"We continue to feel confident about our ability to capture 90%," LPL CEO Rich Steinmeier told analysts during the firm's 2nd quarter earnings call.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
