Results for "money managers"

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Stifel loses $400 million adviser team to Janney

June 14, 2018

The Gormley Furlong Wealth Advisory Group, an eight-person team managing or administering $400 million in client assets, has joined Janney Montgomery Scott in Yardley, Pa. The group was previously affiliated with Stifel Nicolaus. Timothy P....

Wells Fargo duo managing $336 million moves to Raymond James

June 13, 2018

Thomas Monroe and John McDermott, who managed $336 million in assets at Wells Fargo Advisors, have moved to the employee unit of Raymond James in West Hartford, Conn. Moving with them is Wendy Petrovits, their client service associate. ​ Mr....

Funds like Magellan need gamblers like Bill Gross

June 7, 2018

I know why investors don't care about Fidelity Magellan's comeback. As Bloomberg reported on Monday, the mutual fund made famous by hall-of-fame stock picker Peter Lynch is enjoying a resurgence after years of mediocre performance. The fund...

Baird acquires $2 billion M. Griffith Investment Services

June 6, 2018

Baird, the wealth management firm based in Milwaukee, Wis., has agreed to acquire M. Griffith Investment Services, a hybrid advisory firm managing and overseeing $2 billion in assets. Terms of the acquisition were not disclosed. M. Griffith,...

Neil Hennessy: Active managers can grow their assets with acquisitions

June 5, 2018

Neil Hennessy is founder and chief investment officer of Hennessey Advisors Inc., a $6.6 billion publicly traded investment management company that offers 14 mutual funds to the public. Mr. Hennessy, who started his career as a PaineWebber broker...

Florida lures money managers

June 4, 2018

Florida's long-running effort to lure Wall Street hotshots is gaining traction thanks to a provision in the federal tax law that hits residents of high-tax states. The Sunshine State's most recent conquests are two of the founders of I Squared...

Veteran Wells Fargo team managing $505 million leaves for Raymond James

May 31, 2018

Mark Griffin and Mark Liley, who managed $505 million at Wells Fargo Advisors in Denver, Colo., have moved to the employee unit of Raymond James. The two join Robert Campbell and Jarrod Biebel, who left Wells Fargo for Raymond James in 2016....

More institutional money managers joining the $1 trillion club

May 30, 2018

Among institutional money managers, a two-company battle has emerged for the most assets under management, even as more firms have joined the $1 trillion-plus AUM club. BlackRock Inc. (BLK) and Vanguard Group Inc. retained the top two positions...

Wells Fargo loses veteran $500 million team to SunTrust

May 30, 2018

A four-person team managing $500 million at Wells Fargo in Charleston, S.C., has moved to SunTrust Private Wealth Management. The team is led by Wells Fargo veterans Jeff Pratt and Bryan Kazley, who were with the firm and its predecessor companies...

Carlyle's David Rubenstein starts family office

May 29, 2018

David Rubenstein's love of historical documents runs deep. The billionaire co-founder of Carlyle Group owns a copy of the Magna Carta from 1297, a rare facsimile of the Declaration of Independence and an Emancipation Proclamation signed by Abraham...

A radical idea: Pay clients for the privilege of managing their funds

May 2, 2018

The asset management industry is in a funk. The popularity of low-cost index trackers is crushing fees across the board, while Morgan Stanley reckons a shift to performance-based charges threatens half of the industry's profit. Divyesh Hindocha...

Brown Advisory acquires $1 billion Meritage Capital

March 28, 2018

Brown Advisory Inc., an Austin, Texas-based RIA managing $62 billion in assets, has acquired Meritage Capital, an Austin-based firm managing $1 billion. Founded in 2003, Meritage has an eight-person staff, which will join the Brown firm's offices....

Why money managers are paid so much is a mystery

March 19, 2018

Why do workers in the financial industry get paid so much? There are many possible explanations, none of them completely satisfying. The financial industry commands a much larger share of the U.S. economy than in the past, causing some to worry...

Three indies bring $719 million to Securities America

March 7, 2018

A Super Office of Supervisory Jurisdiction and two independent financial services firms, which collectively manage $719 million in assets, have affiliated with Securities America Inc. The three are the Gandet Group, of Manahawkin, N.J.; Vizionary...

Mercer acquires multimanager BFC to boost delegated investment push in Japan

January 16, 2018

Mercer acquired Tokyo-based hedge fund multimanager BFC Asset Management Co. in a move its global wealth management chief predicts will accelerate the nascent growth of Mercer's delegated investments business in Japan. Rich Nuzum, president...

Clients want better investment management, survey finds

November 15, 2017

Wealthy clients are generally satisfied with their advisers but they want more in terms of investment returns and value for fees, a new survey from the Investments & Wealth Institute found. The group, formerly known as IMCA, found that investors...

Ric Edelman looks into the future of financial advice

October 24, 2017

Here are some high notes from Ric Edelman's latest book, "The Truth About Your Future: The Money Guide You Need Now, Later, and Much Later" (Simon & Schuster, 2017). Expect to live longer, work longer, and get more free stuff, says the the executive...

Bulls see room to run after 8-month gain in emerging markets

September 1, 2017

You have to go back to 2004 for the last time emerging-market stocks racked up a longer series of monthly gains. And bulls say the good times should keep going. Mark Mobius of Templeton Emerging Markets Group, Alejo Czerwonko at UBS Wealth Management...

Invesco said to mull ETF-only Guggenheim deal

August 24, 2017

Invesco's rumored purchase of Guggenheim Partners' retail mutual fund business may be limited to a $1 billion buyout of Guggenheim's ETF operations, Barron's reports. That represents a significant rollback from previous rumors. Earlier in August,...

The best and worst liquid alternative funds over the past 10 years

August 16, 2017

The financial crisis spawned a rebirth of alternative-strategy mutual funds designed to help investors through the next downturn. The strategies don’t promise to keep pace with the stock market, but here are the five-best and five-worst performers...

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