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The "hero" of "The Big Short" said index fund inflows are now distorting prices for stocks and bonds in much the same way that CDO purchases did for subprime mortgages more than a decade ago.
UBS announced it has raised $225 million from its private clients for the $1 billion KKR Global Impact Fund as part of a five-year plan to mobilize private wealth for public good.
Edward Jones has traditionally measured its growth by the number of advisors on its platform; now it wants to focus more on growing clients’ assets by expanding its services.
The SEC alleged that by putting investors in higher-cost share classes, for which it was compensated, Cetera’s corporate RIA received about $5 million more in 12b-1 fees than if it had put clients in lower-fee share classes.