Morgan Stanley said it’s more than two-thirds of the way toward achieving its target to finance $1 trillion of low-carbon and sustainability investments by the end of the decade.
The Wall Street firm said in an ESG report this week that it has allocated $700 billion of financing, with more than $550 billion of that directed to green activities. The bank said numerous groups contributed to the program, including its securitized products, commodities and wealth management divisions. The funds went to areas including clean energy, carbon removal and social housing.
Pledges to funnel huge sums of money into clean energy and sustainable activities are seen by many of the major banks as a natural accompaniment to their commitments to cut emissions. Still, while the amounts are substantial, critics say they aren’t enough to wean the world off fossil fuels and address other sustainability goals.
Earlier this year, Goldman Sachs Group Inc. said it was more than halfway toward meeting its goal of putting $750 billion toward sustainable finance by 2030. Meanwhile, Citigroup Inc. said it’s achieved almost $350 billion of its goal of putting $1 trillion toward sustainable finance by the end of the decade.
Rajesh Markan earlier this year pleaded guilty to one count of criminal fraud related to his sale of fake investments to 10 clients totaling $2.9 million.
From building trust to steering through emotions and responding to client challenges, new advisors need human skills to shape the future of the advice industry.
"The outcome is correct, but it's disappointing that FINRA had ample opportunity to investigate the merits of clients' allegations in these claims, including the testimony in the three investor arbitrations with hearings," Jeff Erez, a plaintiff's attorney representing a large portion of the Stifel clients, said.
Chair also praised the passage of stablecoin legislation this week.
Maridea Wealth Management's deal in Chicago, Illinois is its first after securing a strategic investment in April.
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.
