With net contributions of $170 billion flowing into target-date strategies in 2021, total assets in the funds reached a record $3.27 trillion, up nearly 20% from 2020, according to data from Morningstar.
Roughly 86% of net inflows, or $146 billion, went into collective investment trusts, which now account for 45% of total target-date strategy assets, up from 32% five years ago.
“Plan sponsors are attracted to the lower costs of these vehicles, and we expect their growing popularity to persist,” the company said in a release on its report on target-date strategies.
Fees continue to influence target-date fund flows, with the cheapest quintile of target-date share classes amassing $59 billion in 2021, up from $41 billion in 2020. Collectively, the three more-expensive quintiles had outflows of more than $38 billion.
The investment banking arm of RBC is ramping up its hiring across the U.S., Canada, and Europe.
The 140-year-old firm catering to ultra-high-net-worth clients joins a growing roster of wealth managers and tech providers plugging Claude into advisor workflows.
Three broker-dealers secure teams across the country as the recruiting race shows no signs of slowing.
Cecure Corporation leads funding as AI-powered RIA growth platform accelerates team and infrastructure buildout.
Cross-border deals draw growing interest as executives seek growth beyond domestic headwinds.
As $84 trillion prepares to change hands, advisors who treat estate planning as peripheral are quietly building a sieve, not a book.
In volatile markets, the advisors who win aren't the ones with the best calls - they're the ones whose clients stay the course.
