The average account balances in self-directed brokerage accounts within retirement plans such as 401(k)s held at Charles Schwab & Co. grew by 19% in 2019, to $294,105.
Asset allocation in those accounts remained largely the same over last year, according to a recent company report, with participants holding the largest portion of their assets in the form of mutual funds (37%), followed by equities (29%), exchange-traded funds (19%), cash (12%) and fixed income (3%).
Information technology dominated equity sector holdings (27%), with Apple continuing as the top overall equity holding, at 11%. The other equity holdings in the top five include Amazon (5.5%), Microsoft (2.6%), Berkshire Hathaway (2.4%) and Facebook (1.6%).
Inflation delays treatment while insured patients still fight for medication access
Public support grows for policies that spread AI’s financial gains beyond tech companies.
Investment banking fees rose 30% on a wave of IPOs and megadeals, led by the largest public listing on record.
Series A funding from Portage, Bain Capital, and other investors will fuel data tools designed to speed advisor transitions and cut onboarding delays across wealth firms.
The Minneapolis-based RIA aggregator is adding two North Carolina practices managing nearly $1 billion, pushing its total client assets past $158.2 billion.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
