Banking

BlackRock will appoint an “independent fiduciary to vote” on proxies, according to a spokesman.

Advisors who aren’t putting in the work to attract the next generation are taking a risk.

Asset managers are seeking alternatives to standard mutual fund products.

Clients are paying about half as much to own funds as they were 20 years ago.

The expanded line up of index funds demonstrates one way the brokerage industry is grappling with an ongoing race to offer products at the lowest price.

When a tweet drew backlash from customers and politicians on Monday, it brought into question how banks should couch their messages on social media.

The hiring will “reflect the changing nature of fund management,” a company spokeswoman said.

The changes follow a challenging first quarter for the firm’s wealth management operations.

CEO Walt Bettinger says advisors tell him they aren’t worried about the new pricing model.

Bank critics and some lawmakers quickly seized on a tone-deaf posting by JPMorgan Chase that was designed to tout the virtues of saving money.

In the first full year under Atria Wealth, the firm added programs from banks and credit unions with $7 billion in assets.

Despite ongoing consolidation among investment management platforms, the fintech's chief executive says there's plenty of space to serve advisors who have clients with complex needs.

CEO Ronald O’Hanley says the poor performance reflects both the industry’s “continued challenging conditions,” as well as “lower client activity.”

The investment platform, which is in the early stages of development, will be part of Marcus, the firm's consumer bank.

Startup or low-AUM firms have options outside of the big four.