Finance

Deposits increased by almost $30 billion in March alone, with clients shifting out of equities and into cash.

The poor showing may lead investors to question why they’re paying some of the highest fees in the money management industry.

Risk assets have benefited from stimulus programs enacted to shore up the economy as the fallout from the coronavirus continues to wreak havoc.

Firms "pulled in many directions" in recent years can find their way with the right technology, Jemstep CEO Simon Roy says in an episode of Financial Planning's Invest Podcast.

The online brokerage says it has experienced record revenue growth during the coronavirus pandemic.

AUM is down 7% for the wirehouse, which now has 20,000 financial advisors and associated staff working remotely.

“People are just saying, ‘Why should I pay for an active manager when most of them lose to the benchmark anyway?’ This is a big deal,” an expert says.

BofA joins rival banks in setting aside billions for loan losses

Nearly everything fell during the difficult first quarter: net income, advisory assets, IRA assets, and advisor headcount.

Though hopeful for a second-half bounceback in the economy, JPMorgan Chase is prepared for 20% unemployment, lackluster GDP and losses in its loan portfolio that could reach tens of billions of dollars.

The damage hints at what’s to come when the rest of Wall Street reports results this week.

The $349 billion stimulus package from the Small Business Administration provides loans to cover payroll, rent and utilities for up to eight weeks.

“I do believe that clients sometimes get too caught up in expense ratios,” an expert says.

Wealth management firms have evolved past looking for a “flashy digital product” to solve their technology problems, MyVest CEO Anton Honikman says in an episode of Financial Planning’s Invest Podcast.

The fund will track industries such as cloud technologies, remote communications and cyber security, according to an SEC filing.

The smart-beta pioneer and sub-advisor to money managers has re-calibrated its forecasts after the coronavirus-induced crash reshaped markets.

The firm's wealth management unit saw new demand for credit, according to CEO Sergio Ermotti.

“This market environment is a very good one for investors to do a self-awareness check,” an expert says.

For one, clients will owe taxes still on the distributions, unless they recontribute the money into the account within three years.

Risk managers must be especially vigilant about the bets their traders are making to profit from current market dislocations brought on by the coronavirus.