This was a tough year to launch any new product, and exchange-traded funds were no exception.While ETFs were anticipated by many to overtake mutual funds due to their ability to trade like stocks, the crippling global economic crisis of 2008 put a halt to that growth for now, forcing dozens of new ETFs to close and hundreds more to delay launching until conditions improve.Approximately 70% of the 730 U.S.-based ETFs opened in the last three years, but that pace has slowed significantly this past fall. Many ETFs based on the healthcare industry are liquidating, such as those of New York ETF firm XShares Advisors, and many exchange-traded products based on commodities like oil have been hammered by extremely volatile price swings.Actively managed ETFs also failed to garner widespread support in 2008.
-
Amid a busy April for big hires, compliance tech provider COMPLY and wealthtech platform TIFIN have brought on industry vets Michael Stanton and Jeannette Kuda, respectively, aiming for strategic growth.
April 24 -
-
After a mixed quarter for the firm's wealth unit, CEO Ron Kruszewski predicted that the Fed may cut rates zero or just once or even hike them in 2024.
April 24 -
The U.S. Chamber of Commerce and other business groups contend the Federal Trade Commission has exceeded its authority in nullifying contracts that prohibit employees from switching jobs to competitors.
April 24 -
Retirement doesn't have to mean scrimping and saving. Here are five parts of the country where seniors are living large in their golden years.
April 24 -
Advisor360° names former MassMutual exec Mike Fanning as its new CEO
April 23