Merrill Lynch says its total assets under management exceeded $500 billion at the end of 1998. Assets under management were $501.2 billion as of Dec. 25, 1998, the end of the firm's financial year. The figure is the total amount of assets managed worldwide in the firm's asset management group, which provides products and services to both institutional and retail clients.
New research from the National Council on Aging found that wealth plays a major role in longevity, a factor financial advisors say can dramatically alter retirement plans.
Advisors cited better liquidity, lower expenses and higher tax efficiency as among the reasons they like ETFs, the market for which has topped $11 trillion.
JPMorgan Chase's absorption of First Republic after the 2023 regional banking crisis has finally dealt its last blow to the giant custodian's asset flows.
The findings suggest that "crises, behavioral biases and interpersonal conflicts are not fringe topics but core aspects of modern advising," the authors of a study say.
The question ties into so many of the factors that distinguish large and small firms, various client niches and decisions about whether or not to hire staff.
Along with bringing in new households and assets, the Bank of America wealth management units are turning to loans, alternative assets and other offerings to do more with existing clients.
