Net flows to long-term responsible funds quadrupled in 2019 to $20 billion, from $5 billion in 2018, and continued to grow during the first half of 2020 to reach $21 billion, according to a report by Broadridge Financial Solutions.
The report also found that 68% of environmental, social and governance assets in the U.S. are now in actively managed funds. Flows into ESG active equity funds during the 12 months ending in August reached 10% of average fund assets in the U.S.
According to a separate survey by Broadridge of more than 400 financial advisers, 81% of wirehouse advisers have assets in ESG products today, followed by those in the independent broker-dealer (68%) and registered investment advisory (60%) channels.
Twenty-four percent of financial advisers reported that they saw an increase in client interest in ESG as a result of the COVID-19 pandemic.
Broadridge, Wedbush and Alaris Acquisitions have also filled senior wealth management roles with hires from J.P. Morgan, Osaic and SageView.
Bill would make PE firms liable for portfolio company debts and close carried interest loophole as alternatives push into 401(k)s.
While technical expertise is necessary, sustainable trust is only possible for advisors who know how and when to lean on the emotional side of advice.
Betterment, F2 Strategy and WealthReach push AI deeper into advisory firm operations with three deals this week.
Retirement expectations widen from reality, according to Natixis Investment Managers' annual Global Retirement Index.
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
