Approximately 80% of these redemptions are expected in the sub-advised channel, and nearly half of these withdrawals will come from a single client, which is moving assets in-house, Janus said, declining to name the client.
Janus institutional clients represent 401(k), annuity, sub-advised and separately managed money, the firm said, for a total of $74.9 billion, or just under half of the firms total assets under management.
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.
