As a clear sign that Japanese investors are beginning to move their assets from savings into investments, Japanese mutual fund assets have hit a new high, the New Zealand Press reports. Assets in mutual funds in Japan soared 39% from a year ago to $673 billion. Total financial assets stood at $13.5 trillion.
With the yen at 22-year lows, Japanese investors expressed particular interest in international mutual funds.
Still only 5% of Japanese household assets are in investment trusts.
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.
