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 private partnership, Edward Jones is a giant in the retail brokerage industry with more than 20,000 financial advisors.
Meanwhile, Raymond James and Tritonpoint Partners separately welcomed father-son teams, including a breakaway from UBS in Missouri.
Paul Atkins has asked staff to solicit public comment on novel ETFs, pausing the clock on as many as 24 filings linked to the booming event contracts market.
From 401(k)s to retail funds, Deloitte sees private equity and credit crossing into mainstream investing on two fronts at once.
Big-name defections from Morgan Stanley, UBS, and Merrill Lynch headline a busy two weeks of recruiting for the wirehouse.
Wellington explores how multi strategy hedge funds may enhance diversification
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
