Wealth Management industry news covering the financial markets, trends and wealth professionals.
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Wells Fargo's wealth division saw profits jump 157% compared with previous quarter in the throes of the pandemic, while Bank of America's Merrill Lynch and Private Bank units posted profits up 20% over the second quarter of the year.
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.
Many children with disabilities have a difficult time. But advisor Jonathan Greeson, who has spinal muscular atrophy, says he struggled more as an adult, when you’re expected to function more independently.
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.
