In an annual study of how exchange-traded fund sponsors perform their fiduciary duties on behalf of ETF investors, 15 of the 17 large and small exchange-traded fund sponsors surveyed received the highest possible score on diversity, equity and inclusion issues.
The study, conducted by Sage Advisory Services, an Austin, Texas-based firm that manages and advises on more than $16 billion in assets, assessed six core areas of ETF sponsor stewardship: voting practices, engagement, stewardship professionals, disclosure, climate initiatives, and diversity, equity and inclusion. This was the first year the latter issues were included in the survey, Sage said in a release.
The survey also found that the number of respondents who received a passing grade in voting practices — a key tenet in the practice of stewardship — increased from 64% last year to 71%.
In 2020, Sage found that although ETF sponsors claimed to value ESG issues, the voting records of many did not reflect that support. This year, many ETF sponsors focused on their voting records and showcased their commitment to supporting proposals that had a positive impact on ESG factors, especially climate voting proposals, Sage said.
The responding ETF sponsors manage $3.7 trillion in ETF assets, which represents about 58% of the U.S. ETF market and 86% of the U.S. ESG ETF market.
Nine-month electronic trading freeze and share lending program at the center of dismissed claim.
Meanwhile, Rossby Financial's leadership buildout rolls on with a new COO appointment as Balefire Wealth welcomes a distinguished retirement specialist to its national network.
With a smaller group of companies driving stock market performance, advisors must work more intentionally to manage concentration risks within client portfolios.
Professional athletes are often targets of scam artists and are particularly vulnerable to fraud.
The brokerage giant tells Wall Street it will use artificial intelligence to reach clients it has never been able to serve — and turn the technology's perceived threat into a competitive edge.
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline
