Envestnet Closes on Prima Capital Acquisition
Prima’s Gib Watson becomes group president of Envestnet | Prima in latest expansion by Envestnet.
BOJ Could Expand Stimulus
The Bank of Japan (BOJ) might boost stimulus in the wake of a vote by the upper house of Parliament to block a nominee to its board and a call by lawmakers for a more “proactive” monetary policy.
Inflation Fears Drive Investors to Hedge Portfolios: Clear Path
Recent price increases have reminded U.S. and Canadian-based retirement plans of the threats posed by inflation and the need to diversify, according to a Clear Path report.
Moody's Warns More Downgrades on the Way
Moody's warned that it could downgrade the credit ratings of 131 institutions, including 17 banks and securities firms that have global operations as it reviews their long-term ratings and standalone credit assessments.
Envestnet to Acquire Prima Capital for $13.7 Million in Cash
Seller Broadridge says Prima is “profitable … but not core.” Prima CEO Gib Watson to run new business unit at Envestnet.
Tim Clift Says FundQuest’s Analysts Will Complement Envestnet|PMC’s Quants
Now chief investment strategist at PMC following acquisition by Envestnet, Clift says advisors can expect higher correlations through election; Europe already in recession.
S&P Downgrades French Banks
Standard & Poor's downgraded four French banks on Monday, saying that its action came as a result of its downgrade of France itself earlier in the month.
New Hire Roundup: SEC Welcomes Norberg; Fleming Joins FINRA Board
This week in new hires, Jane A. Norberg joined the SEC as deputy chief of the Whistleblower Office; Gregory J. Fleming was elected to FINRA's board of directors; Mike Anderson went to Securities America; and Dan Dorfman joined Trim Tabs Money Blog as a columnist.
Envestnet Closes on Acquisition of FundQuest
Envestnet, headed by Judd Bergman, pays $24 million for FundQuest; $8 billion added to Envestnet platform. FundQuest CIO Clift to become chief investment strategist at Envestnet|PMC.
Moody’s Downgrades French Banks
Moody’s Investors Service cut France’s three largest banks by one notch, citing a 'very high' probability that the French government would intervene with support.