Finance

Current billing systems present a number of compliance oversight issues for larger financial institutions, says co-founder Alan Moore.

Increased volatility, rising protectionism and geopolitical tensions are still weighing on investors, the firm said.

The division’s chief investment officer and head of multi-asset solutions will take over in the interim as co-heads.

Overseeing money for the rich is supposed to be one of the best businesses in banking, but even the world’s biggest wealth manager is finding that it doesn’t always work out like that.

The reduction, which includes 15% of senior management, is part of a larger effort to cut costs and automate more business.

Market volatility spurred clients into cash during the fourth quarter.

Brexit, worries about trade wars and rising interest rates have prompted a selloff in developed country stocks.

It's unclear how automated investment platforms will perform during a major market downturn and what that could mean for advisors' bottom lines.

“The thundering herd is on the move,” boasts Andy Sieg, head of Merrill Lynch.

Money managers would be better off selling holdings at random, a study suggests.

Institutional withdrawals amounted to nearly $35 billion in the fourth quarter.

Nearly all of the outflows came from mutual funds and ETFs that posted losses.

The firm has lost more than 1,100 advisors since a phony accounts scandal came to light in 2016.

For investors who were hoping for a turnaround quarter, better luck next time.

A growing body of research is looking into whether the expanding influence of passively managed funds is making companies less willing to compete.

Many NEXT Financial reps would cash out their company shares while it boosts technology under a deal with Atria Wealth, the parties say.

The funds include a wide range of offerings from emerging markets to precious metals, multi-strategy and REITs.

The Janus Henderson Global Unconstrained Bond Fund has experienced 10 consecutive months of redemptions, underperforming 80% of peers.

Outside investors are ready to exit, CEO Joe Duran tells Financial Planning.

The firm’s new CEO Ronald O’Hanley is pushing to reduce expenses, automate more functions and simplify organizational structure.