Goldman Sachs Group Inc. said it will commit $10 billion in investment capital over the coming decade to help address the disproportionate biases that Black women have faced for generations.
The bank also will put $100 million toward philanthropy under the program, which has a goal of impacting the lives of 1 million Black women by 2030, according to a statement Wednesday.
As part of the initiative, New York-based Goldman is working with nonprofit organization Hope Enterprise Corp., mayors and historically Black colleges and universities across the U.S. South to distribute and lend capital.
“No investment could have a bigger impact than unlocking the economic potential of Black women,” Goldman Chief Executive David Solomon said in the statement. “In the face of significant disparities, they’ve shown admirable resilience, especially as they’re starting businesses faster than anyone else in the U.S.”
While industry statistics pointing to a succession crisis can cause alarm, advisor-owners should be free to consider a middle path between staying solo and catching the surging wave of M&A.
New joint research by T. Rowe Price, MIT, and Stanford University finds more diverse asset allocations among older participants.
With its asset pipeline bursting past $13 billion, Farther is looking to build more momentum with three new managing directors.
A Department of Labor proposal to scrap a regulatory provision under ERISA could create uncertainty for fiduciaries, the trade association argues.
"We continue to feel confident about our ability to capture 90%," LPL CEO Rich Steinmeier told analysts during the firm's 2nd quarter earnings call.
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.
