Asset Managers
The latest news on top asset managers, including updates on mergers and acquisitions, as well as new investment strategies and fund offerings.
Altruist Raises $112M to Take on Schwab, Fidelity: Tech Roundup
By Jeff BermanFunding came from Insight Partners and Adams Street Partners, plus Bill McNabb, Ron Carson and Marty Bicknell.
April 10, 2023
Former Head of Fidelity Billionaires' Family Office Leaves FirmThe Johnson family's private firm hired former hockey star Lane MacDonald in 2014 and he then moved to parent company FMR.
April 06, 2023
Goldman Fined $3M for Marking 60M Short Sales as LongFINRA said the bank had failed to set up systems to comply with trade-reporting rules that it allegedly broke.
April 05, 2023
Active Fund Managers Off to Lousy Start This YearJust one in three active funds topped its respective equity benchmark in the first quarter, according to Bank of America data.
April 04, 2023
How UBS Bought Credit Suisse for a Song — With Morgan Stanley's HelpUBS paid about double what it spent on its failed purchase of Wealthfront and got more than 50 times the client assets.
April 04, 2023
Best Full-Service Wealth Management Firms Ranked by Investors — J.D. Power, 2023A study finds that satisfaction with advisors has fallen with market performance, showing advisors need to do more.
April 03, 2023
Lots of Once-Trendy ETFs Are ClosingFrom meme-focused funds to crypto-themed products, closures of niche-themed ETFs are mounting, with a few exceptions.
April 03, 2023
Is Sieg's Departure 'Beginning of the End' for Merrill's Thundering Herd?There's a risk the Merrill brand could be phased out over the next few years, says industry consultant Jeff Nash.