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Principal launches strategic review after settlement with Elliott
The activist investor reportedly is pushing Principal to focus more on its wealth management operations and less on the life insurance business.
Wells Fargo Asset Management sold to private equity for $2.1 billion
Nico Marais will stay on as CEO of the $603 billion business after the sale to GTCR and Reverence Capital Partners, while there will be fresh faces on the board.
Rockefeller nabs $450 million Merrill Lynch team
The pair of advisers in Denver marks the registered investment advisory firm’s first foray into Colorado.
Mixing target-dates with other funds linked with higher savings
Savers who invest in individual funds outside of their target-dates are generally better off not because of superior investment acumens – they’re just better at putting money into their accounts.
What the Biden administration might do on financial regulation
InvestmentNews webcast discusses SEC Chair nominee Gary Gensler’s potential agenda and other regulation the Biden administration will push to benefit investors and consumers.
Apex Clearing to go public via SPAC in $4.7 billion deal
Apex Clearing is the latest wealthtech company to go public via blank-check merger, following in the footsteps of SoFi and MoneyLion
Where financial advisers sit on the $15 minimum wage divide
Ther debate over doubling the federal minimum wage pits economic principles against politics. From a payroll perspective, financial services is generally not expected to be impacted by a minimum wage hike, but the economy at large could be.
2020 Innovators: Gabino Roche
Saphyre, CEO and Founder
2020 Innovator: Ed Slott
Ed Slott & Co., President and Founder
2020 Innovator: Deborah Fox
Fox Financial Planning Network, CEO and Founder
2020 Innovator: Cynthia Loh
Charles Schwab, Vice President, Digital Advice and Innovation
2020 Innovators: Catherine Berman
CNote, CEO and Co-founder
2020 Innovator: Brian Hamburger
MarketCounsel, Founder, President & CEO
2020 Innovator: Barry Ritholtz
Ritholtz Wealth Management, Founder, Chair and Chief Investment Officer
2020 Innovator: Alan Moore
XY Planning Network, CEO and Co-founder
2020 Innovator: Aaron Klein
Riskalyze, CEO and Co-founder
2020 Icon: Judson Bergman
Envestnet, Founder
Adviser managing $315 million at Wells Fargo goes indie with LPL
Richard Pakes starts CVG Wealth Management in Santa Barbara, California
The unquenchable thirst for wealth management
With M&A in the RIA space setting records, the focus turns naturally to the seemingly irreversible influence of private equity money.
401(k) lawsuit update: 2 dismissals, 2 settlements
Abbott Labs and Genentech won dismissals in cases against them, although plaintiffs can refile their complaints. Cerner Corp. and BlackRock have reached settlements in class-action cases against them.
