ING Funds has filed with the SEC to create an Internet fund. The registration is expected to become effective in July.
The new fund, the ING Internet Fund, will invest at least 65 percent of its assets in U.S. and non-U.S. Internet companies. ING Funds' parent company, ING Group, manages over $280 billion.
The firm's wealth management business saw strong new assets inflows in the first quarter, particularly from its business catering to family offices.
Forty-five percent of wealth managers say a disputed presidential election would hurt their business, according to a new Arizent survey.
Citizens Financial said long-time Morgan Stanley leader Paul Casey will spearhead its wealth, private banking units as part of a larger expansion in advisory services.
Some financial advisors and tax professionals with high net worth clients could find big advantages before the expiration of provisions of the Tax Cuts and Jobs Act.
The New York megabank is working to deploy artificial intelligence as it seeks to make its own operations more efficient. Solomon also sees an "unprecedented" opportunity in financing clients' needs as they invest in AI.
Executives say the results show the wisdom of the firm's deliberate decision to focus on high net worth clients.
