Assets under management in separately managed accounts and mutual funds rose 8.5%, however, to $63.7 billion. This is the highest asset level in the companys history, Neuberger Berman said. But because fees from SMAs are calculated on previous quarter assets, second-quarter results do not yet reflect the increase, the firm said. The firm expects its increase in assets to impact third-quarter earnings.
The firms revenues decreased 7.4% in the quarter, to $148.5 million.
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.
Three advisory teams managing $10 billion in the San Francisco area are among an ongoing wave of departures from the biggest U.S. bank.
Experts say that busy entrepreneurs often miss incentives and advantages available to them. Financial advisors and tax professionals can give them a nudge.
The CEO of the RIA "roll-up" outfit thinks that ongoing industry consolidation doesn't necessarily mean all firms will start to look the same.
As ESG investments face political backlash, here's how financial advisors are talking to clients about impact investing.
