Fidelity Investments

Executives say wealth management’s evolution means automation, lower salary expectations and niche practices.

The change is attributed in part to the cost of managing dividends.

In addition to launching new smart beta funds, the firm may look to expand into “a whole host of different asset classes,” according to one executive.

Certain laws may require them to maintain the coverage with their former spouse.

Which banks are advisors moving to? One recently jumped to Woodforest National Bank from Merrill Lynch. Eight others switched to Arvest Bank, Northern Trust, Union Bank, U.S. Bank and Wilmington Trust from myriad financial services firms.

No performance chasers here; these investors buy on the downside.

Investors may be shifting to cheaper options, or simply taking profits while markets are high.

Aug. 14: After following the industrywide digital-first movement in its acquisition of MyVest, TIAA is now examining how it serves its clients.

To add insult to injury, these losers charge high fees – 12 of the 20 have expense ratios over 1%.

Last year alone 226 Vanguard funds and ETFs reported expense ratio declines.