As the last decade was drawing to a close, Creative Planning owner Peter Mallouk, an estate planning attorney who bought the firm in 2004, decided it was time to shift the business strategy. Since acquiring the firm, he had been relying on implementing a unified approach and process to clients’...
The global wealth management market is set for exponential growth through the rest of the decade according to a new report. Allied Analytics says that the market was worth $1.25 trillion in 2020 and is set to more than double to $3.4 trillion with a 10.7% CAGR from 2021-2030. North America...
A team of eight wealth management professionals has joined D.A. Davidson & Co. in North Carolina. With a collective AUM of $1 billion, the team was formerly affiliated with Truist and includes senior vice presidents, financial advisors, and portfolio managers, Andy Vestal and Matt Bryant. Vestal has more than 30 years...
T. Rowe Price Group Inc. is reeling from a $127 billion exodus over just two years. At Franklin Resources Inc., the latest member of a billionaire family to run the firm is trying to reverse a nearly uninterrupted 20-quarter losing streak. Across the Atlantic, the chief of Abrdn Plc has...
The odds of a year-end rally in US stocks are fading as investors face a multitude of risks from elevated profit estimates to the Federal Reserve’s policy tightening, according to Morgan Stanley’s Michael Wilson. The strategist — among the most bearish voices on US stocks — said he “would not...
A surprisingly strong US economy and mixed signals from the Federal Reserve have fueled some of the wildest swings in Treasuries in recent memory. Add geopolitical angst and a surge in debt supply and you have a recipe for sustained volatility for months to come, market watchers say. Dubbed the “world’s safest asset,” Treasuries have not...
A growing number of asset managers is reassessing bond values tied to real assets, as a spike in the frequency of flash floods, fires and storms hits conventional pricing models. Mitch Reznick, head of sustainable fixed income at Federated Hermes, says climate risk is a key reason why the investment...
Elections are shining a spotlight on struggling emerging markets, with the prospect of fresh leadership unlocking opportunities in the asset class. While Argentines surprised again at polls on Sunday to pick their next president, the result came just a week after voters in Ecuador and Poland backed new, pro-business leaders. Egypt, India and Mexico are all gearing up...
Asset managers are tuning out political opposition to ESG when it comes to selecting investments but are being more careful in how they talk about ESG, according to a report from Cerulli Associates. Political pressure related to the use of environmental, social and governance factors in investing has been mounting....
It’s been nearly a decade since BlackRock closed a line of iShares target-date ETFs for which it had high hopes. At the time, the products, like other ETFs, had struggled to win a place in 401(k) plans. They attracted $310 million — an extremely modest figure for the world’s largest...