ETF would give retail access to catastrophe bonds
The ESG product would seek to expand disaster coverage and provide pricing transparency.
BlackRock adds energy transition unit
The unit, Transition Capital, is part of BlackRock Alternatives and will be led by Dickon Pinner, former head of McKinsey Sustainability.
Captrust adds $900 million in pension assets with acquisition of Patriot Pension Advisors
The deal for the Massachusetts firm marks the 59th acquisition for Raleigh, North Carolina-based Captrust.
Sequoia Financial sells another minority stake to private equity investors
The partnership with Valeas Capital Partners follows a 2020 partnership with Kudu Investment Management. Sequoia remains majority employee-owned.
eMoney provides fintech update at virtual Summit
The financial planning software is continuing to shift toward Decision Center, its cash flow-based planning product.
Benefits may run out faster due to Social Security COLA increase
The revenue stream is at risk as the number of retirees grows faster than the number of workers paying taxes.
House GOP uses SEC comment glitch to question agency’s agenda
Republicans on the House Financial Services Committee give a preview of the pressure they're likely to apply to SEC Chairman Gary Gensler if the party takes over the House in the midterm elections.
Lead broker-dealer seller of GWG L bonds sues its insurers
'No one is going to want to settle with broker-dealers over GWG claims until the bankruptcy is resolved,' an attorney said about the lawsuit filed by Emerson Equity.
Envestnet rolls out program that lets advisers see how they measure up against peers
The free, anonymous assessment takes about 20 minutes to complete, and Envestnet is building a comprehensive database from the findings.
FiNet adviser managing $192 million switches to LPL
Chris Albright’s Astra Wealth Advisors makes the move in Clarks Green, Pennsylvania.
Goldman realigns business units as Q3 beats estimates
The firm reported net revenue of $11.98 billion and net earnings of $3.07 billion for the third quarter amid discussion of the bank's reorganization.
SEC bars California adviser, imposes $400,000 penalty
The agency settles with Sacramento-based Keith Springer and his firm, Springer Investment Management, over fraud charges.
10 of the greatest unretirements of all time
Here are a few celebrities who announced their retirements, then subsequently announced they were reversing that decision.
Merrill achieves record third quarter despite market volatility
Both revenue and adviser head count increased, and Andy Sieg, president of Merrill Lynch Wealth Management, attributed the strong results partly to the firm's advisers.
Market sell-off puts mutual funds on track for $1 trillion of outflows in 2022
The appeal of the old-school fund wrapper is taking a big hit as investors and advisers move to the sidelines.
Sustainable Leaders files for energy transition ETF
The product appears to be the first retail fund that the Boston-based institutional manager would provide.
UBS nabs $1 billion Morgan Stanley trio
The three-adviser, five-person team, Narragansett Bay Group, makes the switch in Providence, Rhode Island.
BofA beats loan-revenue estimates amid rising rates
Net interest income rose 24% in the third quarter as the bank reaps the benefits of the Fed's interest rate hikes.
ESG group takes aim at Vanguard over stewardship
The asset management firm is doing better on disclosure but has a long way to go, activist group says.
Goldman plans major reorganization
The firm will combine its asset management and private wealth businesses, and also fuse investment banking and trading.
