Jean-Marie Eveillard, the prominent mutual fund portfolio manager, will remain with the SoGen Funds of New York for at least five years despite Eveillard's sale of his interest in the fund group. Eveillard and Societe Generale Asset Management of Paris are selling the SoGen Funds' investment adviser - Societe Generale Asset Management Corp. of New York - to Arnhold and S. Bleichroeder of New York. Eveillard, who owns about 20 percent of the fund adviser, has signed an employment contract to remain with the fund group as the person primarily responsible for its day-to-day management, according to a proxy statement the funds filed with the SEC Oct. 22. In addition, Arnhold and Bleichroeder will pay Eveillard for his stake over approximately seven years, the proxy statement said. The purchase price for the firm was not disclosed.
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In sessions at last week's Morningstar conference, Dimensional Chairman David Booth, "Unreasonable Hospitality" author Will Guidara and behavioral finance experts shared tips on how financial advisors can provide valuable coaching to clients.
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The head of client segments in Morgan Stanley's wealth division acknowledges AI could one day be the primary source of financial advice for mass affluent clients. Morgan Stanley advisors working with wealthier investors will have to up their games.
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The Carefull tool integrated into Edward Jones accounts aggregates client accounts and monitors for fraud or mistakes.
June 24 -
Millennials and Generation Z, as they begin accepting generational wealth, show a growing preference for tax-advantaged donor-advised funds.
June 23 -
BNY Pershing declined to state the size and fees of its clearing and custody business with RIAs and other wealth management firms. But that's hardly unique in a channel of the industry with shrinking margins.
June 23 -
Some advisors say they already have a hard enough time explaining what a fiduciary is under federal law and that NAPFA's new definition for fee-only planners will only add to the confusion.
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