Clients withdrew cash from municipal bond mutual funds at a clip not seen since October.
Clients withdrew 0.47% of the funds' assets during the week, according to the Arcata, Calif.-based fund tracker. Among all muni mutual funds - including those that report monthly - net outflow was $954.5 million, or 0.28% of muni funds' roughly $338 billion in assets.
Because of withdrawals and investment losses, muni funds have shrunk nearly 15% so far in the fourth quarter.
An industry recruiter said the Bank of America subsidiary has become almost "unhinged" with the amount of money it's willing to offer advisors it's recruiting.
After a decade-long effort by holders of the personal financial specialist credential, aspiring candidates can be tested on investments, retirement plans and other areas.
During first-quarter earnings calls, top executives of mega firms like Goldman Sachs, Morgan Stanley and Citigroup talked about how they're testing AI and high-tech tools.
Experts from the Fed, Intuit and the Urban-Brookings Tax Policy Center explored ideas for more effective ways to advance the goals of the mortgage interest deduction.
Romantic partners usually agree on their broad retirement goals, a new Ameriprise study shows. But the consensus breaks down over smaller questions.
The Providence, Rhode Island, company is having discussions with private wealth management teams elsewhere as it seeks to expand its fledgling private bank. In just three months, private banking deposits doubled to $2.4 billion.
