Model portfolios, referrals from Merrill Edge and tapping into "overlap" with Bank of America's commercial unit were driving advisor efficiencies and bringing in record numbers of new clients.
Through Merchant Investment Management, RIAs that custody with Fidelity will have access to discounted private loans to use for acquisitions. It's a "game changer," said Fidelity's David Canter.
The investment bank has been quietly building out a retail wealth management strategy. The acquisition of United Capital, for $750 million in cash, turns up the volume and announces its position as a major player in...
Emmanuel Roman said benchmarking the money manager against others is a mistake. Falling behind on technology and new entrants into the markets are what worry him most.