April 19, 2021
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Featured News
What sparked today’s love of ESG?
Even for the earliest proponents of sustainability, the sudden spike in ESG investing popularity is surprising, but satisfying.
Morgan Stanley targets $10 trillion in AUM: Gorman
The wirehouse reported new records for net new assets of $105 billion, up 43% from the end of December and an increase of 183% from the same period a year earlier. 'My target is $10 trillion of money under management,' said CEO James Gorman. 'I've told the team internally, they hate that.'
Merrill Lynch client balances climb 31% year over year
While assets increased, adviser head count at the thundering herd dipped. The company is looking to expand in key markets like San Francisco, Florida and another half-dozen locales.
Wells Fargo adviser head count slips 8% year over year
The decline is expected to continue over the next six months as the bank closes its international wealth management business. The embattled bank recently revised how it tallies its adviser head count total and this year began including about 800 to 900 private bankers and portfolio managers.
Third of near-retirees fail basic Social Security quiz
The level of knowledge is improving but the public still needs guidance on decisions about claiming benefits.
