Money market assets fell $8.9 billion to $2.6 trillion for the week ended April 10, according to Investment Company Institute data.
Taxable government funds decreased by $4.81 billion, taxable non-government funds decreased by $1.01 billion, and tax-exempt funds decreased by $3.07 billion.
Retail money market fund assets decreased by $3.2 billion to $905.4 billion, assets of institutional money market funds decreased by $5.7 billion to $1.7 trillion.
Advisor360° names former MassMutual exec Mike Fanning as its new CEO
Caz Craffy admitted to taking nearly $10 million entrusted to him by Gold Star families and using it for excessive trades through outside brokerage firms.
The number of experienced financial advisor recruits fell in the first quarter, but Ameriprise's overall headcount and its profits are on the rise.
Opponents haven't stated publicly that they will file a lawsuit, but one will almost certainly challenge the Biden administration's expansion of the fiduciary duty.
Few U.S. adults have done any estate planning. Even fewer have done so for their pets. Advisors can help them get started.
Fidelity launched a new hub aimed at helping advisors who said they're struggling to grow organically. The move comes as LPL Financial and BlackRock launched similar hubs this year.
