Finance

As the Federal Reserve strives to help the economy, wealth managers’ revenue takes a hit.

The $527 billion manager released two actively-managed products, one focused on U.S. equities and the other on international stocks.

The more out-of-left-field the change, the more profound the lesson learned, our columnist has found in the corporate and individual practice realms.

Funding for wealthtech is also picking up, with firms attracting $1.5 billion across 62 deals in the third quarter.

A 50% allocation to equities for someone in their 60s still leaves someone with a lot of risk right before retirement, writes Jared Dillian.

The uncertainty could lead to market volatility, delayed stimulus negotiations and complicate planning for a potentially new regulatory environment.

CEO Dan Arnold cites growth in traditional channels and in recently launched models that could bring even more opportunities.

Wealthy clients are the fastest growing segment of the company’s retail division.

Even with those challenges, rep productivity and client cash balances expanded in the third quarter.

The firm will use its warchest to expand its technology stack and make acquisitions.