Schroders Plc said it has a way to score sovereign debt that corrects for the rich-world biases inherent in ESG investing. Emerging economies start off at a significant disadvantage, the asset manager says, because they tend to rely on coal or other fossil fuels, they’re disproportionately vulnerable to climate change, and they...
For years, the Harvard College China Forum brought business moguls en masse to the university’s oak-paneled rooms, including Alibaba Group Holding Ltd. founder Jack Ma, Xiaomi Corp.’s Lei Jun, Blackstone Inc.’s Stephen Schwarzman and Bridgewater Associates LP’s Ray Dalio. There at the invitation of students, some of whom also happen to be the children...
Altruist has played the latest card in its ongoing efforts to woo independent advisors to its asset custody platform. The Los Angeles-based company previously charged registered investment advisors $1 per account per month to use its portfolio management software. On Thursday, the firm announced it would waive this fee completely...
If the regulatory process had a soundtrack, it would be a ticking clock. The American electorate has been pretty much evenly divided over the last few elections, with one party or the other gaining an advantage in the House or Senate by narrow margins. The hold on the White House...
Big banks can struggle when they’re trying to figure out a wealth management strategy that works for everyday retail investors. Look no further than Goldman Sachs Group Inc.’s decision to dump the retail financial advisor business, Personal Financial Management, that it bought just four years ago. Goldman is returning...
The market for U.S. Treasuries may be the largest, safest and most liquid in the world at more than $24 trillion. But securitized fixed-income markets totaling over $12 trillion are nothing to sneeze in the current economic environment, with attractive yields, highly diversified products and a troubled history that’s now...
BlackRock Inc. and other money managers spent years rolling out sustainable funds, seeking to capitalize on surging interest in ESG investing. Now they’re abandoning an increasing number of those products in the U.S. amid political backlash and investor scrutiny. State Street Corp., Columbia Threadneedle Investments, Janus Henderson Group and Hartford...
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...
For many people, work is simply a means to afford to live, but for others it provides a purpose, a social network, a framework for everyday life – and that’s hard to give up for good. With longer life expectancy, the idea of retiring at 65 or earlier may be...
JPMorgan Chase & Co. Chief Executive Jamie Dimon said the Federal Reserve may have to keep increasing its benchmark interest rate in the coming months to combat persistent inflation. The central bank was “a day late and a dollar short” in beginning to raise rates and the rapid increases over...