Both retail and institutional-class shares increased, with total asset rising $10.19 billion to $2.39 trillion. Retail shares increased $1.68 billion to $983.5 billion, with investors, who have an eye on tax day, favoring tax-exempt classes. Of the 881 retail-class shares available, the 307 tax-exempt shares increased $1.92 billion to $231.29 billion, while the 574 taxable shared dropped by $241.2 million to $752.22 billion. Meanwhile, institutional investors seemed less preoccupied with tax status. Of the 1,146 retail class shares available, the 896 taxably shares attracted $13.52 billion more, for a total of $1.268 trillion, while the 250 tax-exempt shares dipped by $5.01 billion to $139.89 billion.
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Advisor360° names former MassMutual exec Mike Fanning as its new CEO
7h ago -
Caz Craffy admitted to taking nearly $10 million entrusted to him by Gold Star families and using it for excessive trades through outside brokerage firms.
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The number of experienced financial advisor recruits fell in the first quarter, but Ameriprise's overall headcount and its profits are on the rise.
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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.
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Few U.S. adults have done any estate planning. Even fewer have done so for their pets. Advisors can help them get started.
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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.
April 23