Finance

The nearly 10,000 advisors affiliated with the firm grow 2.5 times as fast as their peers at rival brokerages, CEO Jim Cracchiolo says.

“This looks like pockets of frothiness, some irrationality undoubtedly, some nonsense undoubtedly," said BlackRock Vice Chairman Philipp Hildebrand.

The capital injection is “a strong sign of confidence from investors that will help us continue to further serve our customers,” a company spokesperson said in a statement.

Reddit users helped fuel a blistering rally in GameStop, the video game retailer, burning short sellers and hedge funds.

The increase comes as the recruiting market heats up.

The looming threat for Biden’s SEC pick is that the good times could end on his watch, triggering a crash that hits retail investors who’ve contributed to the boom.

The central bank’s policy-making body repeated it would maintain its bond-buying program until “substantial further progress” toward its employment and inflation goals has been made.

The 2,500-advisor firm is sneaking up on larger rivals by adopting an approach that’s increasingly popular across wealth management.

Strong 2020 returns have given a boost to the Swiss bank's new CEO, Ralph Hamers, whose start has been overshadowed by a Dutch probe into his role in a money laundering scandal at his former employer.

The 20 funds in this ranking carried an average expense ratio of more than twice the broader industry.