Northern Trust Asset Management is seeking requests for information from minority-owned broker-dealers, as well as those owned by women, veterans and people with disabilities, to provide trade execution services.
Last year, the asset manager increased from 10% to 15% its diversity target for all equity security trading commissions regarding its common and collective funds. Last year, it topped its target, to 18%, the firm said in a release.
In addition to considering ownership structure, Northern Trust evaluates broker-dealers on requirements for execution, technology, compliance and performance. It expects to announce the selected broker-dealers in the fourth quarter.
A Texas-based bank selects Raymond James for a $605 million program, while an OSJ with Osaic lures a storied institution in Ohio from LPL.
The Treasury Secretary's suggestion that Trump Savings Accounts could be used as a "backdoor" drew sharp criticisms from AARP and Democratic lawmakers.
Changes in legislation or additional laws historically have created opportunities for the alternative investment marketplace to expand.
Wealth managers highlight strategies for clients trying to retire before 65 without running out of money.
Shares of the online brokerage jumped as it reported a surge in trading, counting crypto transactions, though analysts remained largely unmoved.
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.
