Investment strategies

Asset managers have been on edge as U.S. equity ETFs reported withdrawals of nearly $18 billion in the three weeks ending Friday.

The deal will accelerate the firm’s digital-heavy client strategy, CEO Andy Rachleff said.

Regulators and observers warn there are risks to mixing show business with investment advice.

If approved, the fund would be the first in the U.S. to follow a quantitative approach that allocates across asset classes based on risk.

The deal comes amid a flurry of similar digital investment acquisitions made by competing banks.

Depending on where they live, retirees can expect their six-figure savings to last more than two decades, data shows.

Acquiring clients can be expensive. Some digital investing platforms have turned to a marketing strategy they say may present “conflicts of interest.”

Newday’s tools include content centered around clients’ issues of focus and, soon, a corn-based compostable debit card.

Of the 25 new ETFs, the majority come from JPMorgan and investment company Direxion.

If reached, the deal would precede a potential IPO of the $52 billion firm, which oversees asset allocations of domestic and offshore pension funds.