See the latest on the Wealth Management Industry including M&A activity, diversity and inclusion and RIA updates.
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Assets under management at BlackRock surged to a record $7.81 trillion in the third quarter, buoyed by a rising stock market and flows into all of its product lines. Retail clients added a net $19.6 billion to BlackRock funds in the period.
The UBS x Luminary Fellowship Program will be given to 55 candidates, and is aimed at assisting businesses that are owned and operated by women of color to help them withstand the pandemic's impact.
Morgan Stanley's acquisition of asset manager Eaton Vance for $7 billion would allow the wirehouse's financial advisors to better customize and enhance their product offerings, according to industry analysts.
Co-founder Michael Kitces said the XY Planning Network was hiring Duane Thompson to help advocate for fiduciary standards on the state level after an appellate court ruled against its suit concerning Regulation Best Interest.
The SEC's guidance comes weeks after news reports indicating that many firms were failing to properly disclose prior issues and stresses that firms cannot omit the disciplinary section, regardless of the answer they give.