Portfolio

Net flows have slowed in 2020 at the fund giant as rivals continue to roll out similar products amid the rise of robo advisors and almost-free trading.

The one-two punch of major tax laws passed within four months of each other creates some interesting puzzles for advisors to solve.

The top 20 outpaced the broader industry and had an average net expense ratio far below the 0.45% investors paid last year.

Jon Stein was a pioneer of the robo advice industry, building a $25 billion firm over the past decade.

Brian Truscott oversaw more than $330 million in client assets.

The firm also added a new unit to accommodate its dramatic advisor growth — from one to 140 in seven years.

The new hires generated approximately $5 million in production before making the move.

The deal underlines the bank’s focus on Folio's clearing and custody capabilities, as well as its 450 RIAs.

The scale of the withdrawal indicates that the ETF is both being used by large institutions and a favorite with retail investors, an expert says.

The firm has sought to broaden the range of clients it targets with its wealth-advisory services.