Capital markets

The firm, which has more than $3 trillion under management, runs dozens of mutual funds and was a pioneer in index investing.

There are still plenty of challenges and potential changes on the horizon. Here’s what to watch for.

Waddell & Reed had been working in recent years to transform its “proprietary broker-dealer into a fully competitive independent wealth manager.”

Potential customers include hedge funds, crypto miners and over-the-counter trading desks

The scale of the withdrawal indicates that the ETF is both being used by large institutions and a favorite with retail investors, an expert says.

As part of a two-step deal involving Australian investment bank Macquarie Group, LPL will pick up 900 advisors and $63 billion in assets.

Once a laggard, the index and its cyclical components have shot up 13% since Halloween, putting it on track for the best month since 1987.

Two women employees at the firm’s Newport Beach, California office say they were demoted after reporting instances of bias and harassment.

Funding for wealthtech is also picking up, with firms attracting $1.5 billion across 62 deals in the third quarter.

A 50% allocation to equities for someone in their 60s still leaves someone with a lot of risk right before retirement, writes Jared Dillian.

The uncertainty could lead to market volatility, delayed stimulus negotiations and complicate planning for a potentially new regulatory environment.

The firm will use its warchest to expand its technology stack and make acquisitions.

Complicating socially conscious investing is the fact the SEC doesn’t regulate how the category’s labeling is applied.

“These are tracking the industries that are supporting the economy and will continue in the post-pandemic world,” an expert says.

The fintech plans to build out cash, checking, insurance and mortgage products.

Genstar Capital Managing Partner Tony Salewski spoke openly with advisors about the firm’s investment strategy for the IBD network.

The acquisition established a $6 trillion-giant operating as a mutual fund company, RIA custodian, bank, retail brokerage and national wealth management firm.

Estimates for the deal between the analytics platform and private equity firm LLR Partners go as high as $270 million.

The Managed Funds Association urged the agency to do more analysis before moving forward.

Unlike many digital advisors, Retirable is not offering investment management or targeting millennials.