Ethic, a sustainable investing platform that provides direct indexing, announced that it completed a $50 million Series C round.
The funding round was led by Jordan Park Group. UBS also participated through its innovation unit, UBS Next, along with Ethic’s existing investors Oak HC/FT, Nyca Partners, Sound Ventures, Urban Innovation Fund and Kapor Capital, according to a statement.
The company said it would use the new funding to expand into new markets and products, and to continue to invest in its platform experience. It noted that it saw record inflows during the first half of the year despite volatile markets. Ethic now oversees more than $2 billion in assets.
“Our personalized approach, which allows people to create portfolios that reflect their own unique definitions of sustainability, has helped facilitate our rapid growth with intermediaries and their clients,” Doug Scott, co-founder and CEO of Ethic, said in the statement.
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.
It's the mega-RIA firm's third $1B+ acquisition in just three months.
The deal marks a strategic entry into private asst markets for the ETP, ETF innovator.
Wall Street leaders propose ways to monetize the mortgage giants.
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.
