Bank of New York Mellon said the purchase will let it offer clients and investors an opportunity to review actual or predicted security cash flows, to gain access to loan-level historical data analysis and cash-flow scenarios and to plug in default and prepayment modeling.
The service will initially focus on analysis related to U.S. residential mortgage-backed securities and will be expanded eventually to include other structured assets globally.
The deal price was not disclosed.
The number of experienced financial advisor recruits fell in the first quarter, but Ameriprise's overall headcount and its profits are on the rise.
Opponents haven't stated publicly that they will file a lawsuit, but one will almost certainly challenge the Biden administration's expansion of the fiduciary duty.
Few U.S. adults have done any estate planning. Even fewer have done so for their pets. Advisors can help them get started.
Fidelity launched a new hub aimed at helping advisors who said they're struggling to grow organically. The move comes as LPL Financial and BlackRock launched similar hubs this year.
Three advisory teams managing $10 billion in the San Francisco area are among an ongoing wave of departures from the biggest U.S. bank.
Experts say that busy entrepreneurs often miss incentives and advantages available to them. Financial advisors and tax professionals can give them a nudge.
