Smaller base of brokers brought in $3.3 billion of net new assets as clients looked for yield in structured products, while asset-based fees were calculated on quarter-opening balances before the economy halted.
Avocados are one of the foods that have seen a surprising price surge in the last few weeks.
UBS Group AG appeal of a record 4.5 billion-euro ($4.9 billion) French fine for helping clients stash undeclared funds in offshore accounts was postponed over concerns related to coronavirus pandemic, according to people familiar with the case.
Citing coronavirus market volatility, Wells Fargo Advisors will use the higher of current values or those at Dec. 31, 2019 values to determine when client accounts fall below $250,000-asset levels.
“Bio-threat” fund, with ticker symbol VIRS, would be based on an index of companies developing defenses and antidotes to diseases caused by pandemics, biological warfare and natural disasters.
The Caribbean countries of Barbados, Belize and the Bahamas, among the preferred playgrounds for the world’s wealthiest bankers, may soon become known instead for Wall Street’s dark side: Debt crises.
Founder of seven-person Paladin Advisors forgoes almost $300,000 of revenue to encourage clients (and, she hopes, other advisors) to help people struggling through the coronavirus crisis.
The wirehouse team is at least the second to join RBC in Wisconsin this year, following a $1.8-billion former Merrill Lynch team that joined in Green Bay in February.