Finance

Without market-leading, high-yield savings accounts, cash management at Betterment and Wealthfront isn’t as attractive as it was in 2019.

The firm, which has more than $3 trillion under management, runs dozens of mutual funds and was a pioneer in index investing.

There are still plenty of challenges and potential changes on the horizon. Here’s what to watch for.

Waddell & Reed had been working in recent years to transform its “proprietary broker-dealer into a fully competitive independent wealth manager.”

Potential customers include hedge funds, crypto miners and over-the-counter trading desks

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.

As part of a two-step deal involving Australian investment bank Macquarie Group, LPL will pick up 900 advisors and $63 billion in assets.

The low interest rates pushing down sales across most fixed and variable lines are also boosting certain products.

Once a laggard, the index and its cyclical components have shot up 13% since Halloween, putting it on track for the best month since 1987.

Two women employees at the firm’s Newport Beach, California office say they were demoted after reporting instances of bias and harassment.