The bank is reportedly in talks to sell the unit to a private equity consortium led by GTCR and Reverence Capital Partners.
The majority of U.S. households, even those that save and invest diligently, place the bulk of their investible assets in tax-deferred retirement accounts and bank accounts, while ignoring 'middle liquidity' options, the report published by Hearts & Wallets notes.
The business is complex and competitive, and it is changing rapidly, industry leaders noted at several InvestmentNews events
Two pairs of advisers in Lincoln, Nebraska, make the move, along with their staffs.
West Texas WealthCare will use JFC Financial as its office of supervisory jurisdiction.
Firm announces it will work with digital payments upstart Marqeta on Marcus checking accounts. Marqeta's CEO says Goldman plans to use the firm's technology to issue debit cards into mobile wallets.
Pooled employer plans, or PEPs, could dramatically change the 401(k) business, but only if employers decide to adopt them.
The bank is combining its consumer wealth management and private banking units into a single entity, encompassing operations handling money for clients with $200,000 to tens of millions, or much more. The new business will be led by Jim O'Donnell.
Financial wellness programs depend on data about what workers need, but employees may have concerns about the privacy of their personal information.
New research from the Global Impact Investing Network reveals the multifaceted drivers behind impact investing, as investors balance financial and impact performance. Contrary to what some might assume, financial performance is often the top priority, said Amit Bouri, CEO of GIIN.
The firm's acquisition of the record keeper may be a harbinger for other distributors. Does Raymond James see opportunities to monetize participants in retirement plans, especially given the launch of pooled employer plans?
That guidance comes years after it was requested by industry groups. The Department of Labor regularly investigates employers for the issue of missing participants, but until now it hadn't provided clear steps on how to remedy the problem.
Boston-based Alpha is a retirement consulting firm with 572 clients and about $2.9 billion in assets.
Future innovations in DC plans will come as much from retirement plan advisers and their clients as from the institutional market.
Eldridge and Atlas Merchant Capital combine forces in the latest example of private equity firms taking stakes in the wealth management industry.
The Morningstar study examined saving, investing and wealth differences between typical in-office employees and remote workers. The latter tend to be older and more highly compensated, both of which correlate with different investing habits.
Beacon Pointe Advisors adds CDA Group, based in Greenville, South Carolina, and Essex Asset Management, in Vero Beach, Florida.
The Justice department sued to block the acquisition in November, accusing Visa of trying to buy the financial technology firm to eliminate an emerging threat to its online debit business.
The $25 billion Denver aggregator is buying Rowland Carmichael Advisors, a Scottsdale, Arizona-based multifamily office that serves 240 clients with more than $850 million in assets.
The new head of the $2 billion Los Angeles-based registered investment advisory firm is just 27.
