Technology is playing an increasingly important role in wealth management and financial planning, and combined with a great human advisor it is a potent mix. But for financial planners there’s one area of technology that has mutual benefits for clients and planners, according to a new study from the Financial...
The wealthiest individuals and families in the U.S. are demanding more from their family offices, including more wealth and investment management, which is driving higher incentives for the best talent. The latest biannual compensation report from Morgan Stanley’s single family office advisory group reveals that 94% of staff in family...
An against-the-odds deal to avert a U.S. shutdown is soothing nerves across Wall Street after a week of interest rate-spurred market disruptions. While money managers largely shrugged off the political circus in Washington, the passage of compromise legislation to keep the government running until Nov. 17 gives financial markets some breathing room...
For the first time in a long time, advisors are being forced to think about cash. Stashing excess client funds wasn’t an issue for financial advisors at the start of 2022, because cash was barely generating any return. With the federal funds target rate at 1.5% back then and money...
Morgan Stanley’s 15,000 financial advisors will have to work harder in 2024 and generate more revenue to earn the same amount of take-home pay as they did this year. Large wirehouses like Morgan Stanley rely on complex, cumbersome pay schemes known as “grids” to determine what percentage a financial...
Financial institutions are missing an important element of providing an effective service for clients from diverse backgrounds. Edward Jones asked attendees at its Diversity, Equity, and Inclusion Conference this week, including financial advisors, client support team members and home office associates, for their insights and found that 54% of client-facing...
Yields on 30-year Treasuries are on track for their largest quarterly jump since 2009, stoking anxiety that the bond rout of the past few months could reverberate across financial markets. The long-bond yield has risen around 85 basis points since the end of June and touched about 4.81% Thursday, the...
BlackRock Inc. Chief Executive Officer Larry Fink said he’s open to more acquisitions, as the world’s largest asset manager increasingly seeks to position itself as a one-stop shop for investors. “I do see some very large opportunities for inorganic growth,” Fink told Bloomberg Television’s Dani Burger at the Berlin Global Dialogue forum...
China Evergrande Group wiped out international investors, roiled financial markets and left thousands of suppliers in the lurch. Yet it was the developer’s failure to pay households who invested in its wealth management products that may have provided the last straw for Chinese authorities. Almost two years after Evergrande defaulted...
The top royal for one of the world’s smallest nations heads a multibillion-dollar dynasty dating back almost 1,000 years that’s endured through wars, floods and scandals. Today, the finance empire behind Liechtenstein’s Prince Hans-Adam II is flourishing from its main area of expertise: managing money for the world’s super-rich. LGT Group,...