Fidelity Investments

With damage from hurricanes Harvey and Irma clocking in at more than $150 billion, will funds with high exposure to property and casualty insurance take a hit?

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.

If clients tap their Roth accounts at the wrong time, even after retirement, they could lose out on some potential tax benefits.

The firm said they now have lower net expenses than comparable offerings at Vanguard.

There wasn’t a lot of diversification among the top funds as technology has dominated the market gains in recent years.

The firm has been building its passive business as investors dump active products.

"I don’t have one yet, but I want one," says Tom Halloran, president of Voya Financial Advisors.

Its local unit is the first qualified domestic limited partner to be granted a license from the Asset Management Association of China.

Investment head Tim Buckley will succeed Bill McNabb, who led efforts that more than tripled the firm’s assets since taking over as CEO in 2008.

Actively managed mutual funds and ETFs that own domestic stocks experienced $98.5 billion in net redemptions in the first six months of 2017, according to Morningstar.

Tim Buckley will become the money manager’s fourth CEO since it was founded in 1975.