SSB Citi Asset Management Group of New York, a division of Citigroup, announced that its two Australian investment operations, Salomon Smith Barney Asset Management Australia (SSBAM Australia) and Citibank Global Asset Management (CGAM) will be combined.
All asset management functions previously undertaken by CGAM will be transferred to SSBAM Australia. The consolidation combines the operations of the two asset management firms of Citicorp and Travelers, which merged last year.
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.
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.
