In an effort to ramp up its ETF offerings, Charles Schwab announced today that it has acquired an ETF-focused money management company with nearly $4 billion in assets. Schwab paid $150 million in cash and stock for the company.
A total of 40 M&A deals, representing $30 billion in assets under management acquired, were completed in the RIA channel in the first half of 2010. That’s the strongest first half on record in terms of deal volume, according to Schwab Advisor Services which started tracking the data in 2003. There were 16 deals completed in the second quarter compared with 24 in the first quarter this year.
Christopher E. Baggini has been appointed as senior portfolio manager/security analyst at Turner Investment Partners. Baggini previously was the lead portfolio manager of the Aberdeen Equity Long-Short Fund, which won Lipper Fund Awards for the best ...
Maybe financial planning isn’t all it’s cracked up to be. Sure, it’s been held out as a “must have” service, especially during down markets. But it turns out it doesn’t really give advisors a leg up in winning new clients or generating revenue.
The nervous-client-syndrome has yet to wear off. That’s according to a new survey that says most advisors are still spending the majority of their time with existing clients rather then generating new business.
As one advisor puts it, “ didn’t invest in LPL to hang out. It was a business decision and they’re ready to monetize their investment.” The PE firms’ 2005 investment valued LPL at $2.5 billion, or 2.5x gross revenue—a multiple analysts said was the highest ever for an independent b/d/.
Our research research shows that two screens have helped achieve better outcomes – low expenses and high manager ownership. Funds sharing these two characteristics have tended to outpace market indexes and the broader universe of active managers over time....More
The past few years have been turbulent for investors in emerging markets-particularly for those investing in local currency bonds. Andrew Keirle, portfolio manager for the Emerging Markets Local Currency Bond Strategy, explains why the recent volatility may present a compelling opportunity for long-term global investors....More
Are your clients' retirement plans flexible enough for life's changes? Clients want the best of both worlds—guaranteed lifetime income with upside potential and flexibility to adapt to changing life situations. There is a solution to meet these client needs from accumulation through distribution....More