If the emerging absolute-return exchange-traded funds succeed in delivering outsized returns at low cost, the one-two punch to the traditional mutual fund industry could gain steam, The Wall Street Journal reports.
One U.K. hedge fund manager,
These funds have the added benefit of offering daily liquidity, as they invest primarily in large-cap stocks traded on major exchanges. The six top-performing absolute-return hedge funds have delivered an average of 10.9% each year since their launch.
The CFP Board promised to enhance its review processes after an investigation found major shortcomings. A new analysis of CFP data found that the problem has only gotten worse.
Terri Kallsen will precede him next year as chair of the Board of Directors; Seay will take over that role in 2027.
The popular industry recruiting and retention barometer provided another window into the challenges facing LPL Financial with its latest major acquisition.
The Wall Street powerhouse has built its wealth division in large part through big deals but is not "looking to make acquisitions just for the sake of it, " said CEO Ted Pick.
But the Bank of America subsidiaries nonetheless reported rises in AUM and net revenue in the second quarter while adding thousands of new client relationships.
The accusations led to the end of 16 years at the firm.
