Investments

Banking and robo advice will be part of the new digital offering, United Capital's CEO says at MarketCounsel.

The four new types of funds use a so-called proxy basket and will publish some information about their portfolios every day.

The fund will track an index that divides the industry into five categories: pharmaceuticals, testing and analytics, cultivators, hemp and ancillary business.

Robo advice is “a feature, not a business,” one digital expert says

The $1.8 billion deal is expected to close in mid-2020.

Jeff Smith's dismissal was first announced in a memo by CEO Larry Fink and President Rob Kapito, who only said the executive had violated corporate policy.

"It's going to become increasingly more important for financial professionals to understand the potential benefits of sustainable investing," an exec says.

Those in the workforce will not owe taxes on rollovers to traditional retirement accounts, but will face consequences using the strategy with a Roth.

The “vast majority” of retail clients already qualified as of October but certain customers were still paying $2.95 a trade.

At a meeting last year, the firm’s CEO discussed how behavior would be held to a higher standard than rank-and-file employees, people familiar with the matter said.

The robo advisor is also pursuing more banking business.

The wealth management tech provider's president of investment services is looking to “tie up some loose ends.”

“It’s going to become increasingly more important for financial professionals to understand the potential benefits of sustainable investing,” an executive says.

Brokerage firms that sell the funds must determine whether clients understand their risks — a requirement that could discourage offering them at all.

As the hedge fund manager nears a deal with the MLB team, he says his role as head of Point72 Asset Management will not change.

Like other bank-owned asset managers, the division is under pressure from new regulations such as MIFID II and a protracted shift toward passive investing.

“I feel like I always operate in a recession” — and that’s a good thing, says Bernstein Private Wealth Management's digital chief.

In a session at the In|Vest West conference, Rachleff revealed the digital firm’s ambitious plans to take on big banks.

“There’s less performance chasing than you saw in the past, and that’s a positive thing,” an expert says.

The announcement is part of an ongoing mashup of financial services. The target audience? The customers of traditional banks.