Envestnet has launched a new embedded investment platform to empower banks and other financial institutions offer a more holistic service to their customers. The firm has established an SEC-registered investment advisor called Envestnet Embedded Advisor to be the asset manager for the embedded financial solutions while investment accounts will be...
Top Wall Street bankers said they’re pessimistic about the outlook of the global economy next year with elections in the U.S., monetary policies and escalating Middle East tensions weighing on sentiment. “If you take the time horizon, the monetary policies that we are going to see will have greater effects...
Global bond markets rebounded, with the US 10-year yield sliding to 4.8%, amid growing speculation that the recent selloff was excessive. Nasdaq 100 index futures rose ahead of earnings from Microsoft Corp. and Alphabet Inc. Treasury 10-year yields slipped five basis points to a one-week low after reaching the highest...
Bitcoin extended a rally fueled by expectations of fresh demand from exchange-traded funds, reaching the highest price since May last year. The largest digital asset rose as much as 11.5% to top $35,000 before paring some of the gain to trade at $33,918 as of 7:25 a.m. in London on Tuesday,...
“If you talk to our chief investment officer, she would say this is the time to start thinking about adding some duration,” State Street Corp. Chief Executive Officer Ron O’Hanley said in an interview with Bloomberg TV on Tuesday. “I don’t think anyone can call the top, but when...
A federal automatic retirement savings program would undermine retirement plans offered by businesses to their employees, said critics of new federal legislation. Sens. John Hickenlooper (D-Colo.) and Thom Tillis (R-N.C.) last week introduced the Retirement Savings for America Act, which would establish portable, tax-advantaged retirement accounts sponsored by the federal...
It wasn’t until Thomas Kopelman left the constraints of a traditional broker-dealer that he was able to unleash the full potential of his social media strategy. His instinct told him early on that the industry’s methods of client acquisition at the time felt wrong. Being told to attend every networking...
Get ready, advisors! Goldman Sachs is stepping back into the RIA space. Not that it ever really left. Following months of gossip about the future of its investment advisor business, Goldman Sachs finally ended all the speculation in august by announcing the sale of its Personal Financial Management unit to Creative...
Women appear to be making some advance in the broad financial advice industry, with an increase in the numbers of women getting the certified financial planning designation last year just one example of that. There are roughly 320,000 working brokers and financial advisors in the United States, and for years...
Prior to taking the top job at Hightower Advisors in 2019, Bob Oros was a financial industry veteran, having climbed the executive ranks at Schwab, LPL Financial and Fidelity. But that wasn’t the only buzz he was making at the time. He was also a partner in a regional craft...