To paraphrase the famous line from “Jaws,” “We’re going to need a bigger moat.” Shares of Warren Buffett’s Berkshire Hathaway have returned 14% year-to-date, compared with a 15.5% rise for the S&P 500. Over the past 5 years, however, Buffett’s holding company is up 71% compared with the S&P 500’s...
A new report is a further call to action for fund managers who are lagging on providing exchange-traded funds as advisor and client demand grows. With ETFs typically offering lower expense ratios than mutual funds, the majority of registered advisors are selling them (91%) according to a new report,...
Hightower firm Highland Private Wealth Management has expanded its business in Washington with the acquisition of an advisor team with approximately $470 million in assets under management. Highland has acquired Trellis Advisors, a registered investment advisory firm based in Ellensburg, Washington, and founded by Ray Gilmour. “We have known Highland for...
Tax planning and wealth management firm Avantax has acquired a seven-member team managing around $330 million in client assets. Minnesota-based Summit Wealth Advocates comprises two financial advisors plus support staff, with the advisors joining Avantax’s employee-based model as financial planning consultants and the rest of their team joining in various...
US equity futures rose as investors awaited earnings from Nvidia Corp., the chipmaker at the heart of the hype around artificial intelligence. Europe led a rally in global bonds as signs of a quickening downturn in the euro area prompted traders to trim interest-rate hike bets. Services activity shrank for...
Gold isn’t losing its allure, according to a dozen money managers who all told Bloomberg News they expect to maintain or raise their exposure to the precious metal in the coming 12 months. Bullion has stumbled in recent weeks in the face of multiple headwinds from surging real yields to...
Global investors have been shedding China’s blue-chip stocks during the longest stretch of outflows on record, showing even the nation’s industry leaders are falling out of favor as a rout deepens. Foreign investors sold 6.2 billion yuan ($851 million) of Kweichow Moutai Co. from Aug. 7 to Aug. 18, making...
A rapid tourism recovery in Japan, bolstered by the return of Chinese visitors, and the highest level of inflation in four decades are fueling a boom in hotel investment in the island nation. Foreign investors, including Goldman Sachs Group Inc., KKR & Co., Blackstone Inc., have spent a combined $2 billion...
Investors in their golden years have increasingly been targeted by precious metal and collectible coin providers — a trend that state regulators, lawyers and financial advisors say needs to stop. This month, numerous states signed on to a bankruptcy plan for Lear Capital, a precious metals firm that has been...
Through successful fundraising, acquisitions and a marketing campaign to lure financial advisors put off by the pending Charles Schwab-TD Ameritrade mega-merger, Altruist has established itself as a significant player on the asset custody market with ambitions to grow even larger. But it may have to do so under a new...