Advisors who want to retire, or free themselves from the admin of running a business, now have a new option. LPL Financial has launched a first-of-its-kind program that enables advisors to monetize the business they have built and retire, or free themselves from the responsibilities of business ownership to concentrate...
An influential group of institutional investors has called on governments to remove policy barriers to help unleash an estimated $275 trillion in new clean energy investments over the next three decades. The Net-Zero Asset Owner Alliance, whose members oversee $11 trillion of assets and include Allianz SE, Axa and the California Public Employees’ Retirement System, said governments need to...
Private credit is going through a golden era, according to its fans, but a handful of asset managers are refusing to be dazzled by the biggest part of the booming $1.5 trillion market: direct lending. Swiss Life’s investment arm and Scotland’s Baillie Gifford are avoiding the direct-lending craze in part because of...
One of last year’s hottest quant trades is getting a reboot, even as it misfires in the world’s largest stock market. So-called value shares — which trade at lower multiples relative to fundamentals — are all the rage again but this time in Asia and, more recently, Europe. Investors are essentially...
RBC Wealth Management has recruited a financial advisor who oversaw $435 million in client assets at UBS, the firm announced Wednesday. Brian Wells will join the firm’s Marin County, California, office as managing director and financial advisor. He’s joined in the move by an investment associate, Stephanie Neri. While Wells...
Goldman Sachs is in advanced negotiations to divest its specialty lending unit, GreenSky, to a consortium of investment heavyweights, marking a significant pivot away from its brief foray into consumer lending. Leading this consortium are investment titans Sixth Street, Pacific Investment Management, and KKR. Insiders privy to the discussions told...
A financial advisor who began his career with Edward Jones in 2015 is returning to the firm to provide comprehensive retirement plan services for small and mid-sized companies in the Seattle area. Jon Murdock previously managed $167 million in client assets and rejoins the firm after spending a year as...
The retirement years of millions of Americans appear to be on a better course, but the reality may be less rosy according to Goldman Sachs Asset Management. The firm’s Retirement Survey & Insights Report 2023 shows an improvement with 65% of the U.S. workers polled believing they are on course...
Markets may be underestimating the risks of both a US recession and one more interest-rate hike from the Federal Reserve, making haven assets a preferred play, according to Pacific Investment Management Co. There’s “still a fairly elevated chance of another hike before the year end,” Geraldine Sundstrom, a money manager...
A New York firm that managed billions of dollars for sanctioned Russian oligarch Roman Abramovich was sued by the Securities and Exchange Commission for not registering as an investment adviser. The SEC filed suit Tuesday against Concord Management LLC of Tarrytown, New York, and founder Michael Matlin. The agency said...