The decision to “soft close” managed commission accounts that Merrill has offered for 36 years and that hold $45 billion reflects Reg BI-era restrictions, the firm said.
Risk-management software usage skyrockets as advisors seek to persuade homebound clients to stress-test portfolios and consolidate more held-away assets with them.
Sales of Aladdin risk and portfolio management software used by some wealth managers accelerate during the coronavirus crisis.
BlackRock Inc., the world’s biggest asset manager, said that an employee in New York City tested positive for coronavirus.
World’s biggest asset manager attracted $429 billion in new money in 2019, with $75 billion pouring into ETFs in the fourth quarter.
Despite no-cost trading for RIAs and self-directed investors, BlackRock will not pull off of Fidelity’s no-commission ETF platform to save costs, said CEO Larry Fink.
Sales of Aladdin risk and portfolio management software to wealth managers help offset lower revenue from active-fund management.
The world’s largest asset manager, which runs some of the cheapest investment products available, plans to place a greater focus on the quality of the engineering, construction and management of its funds going forward, according to Armando Senra, who recently took over as head of the firm’s exchange-traded fund business for the U.S., Canada and Latin America.
BlackRock Inc. is launching its largest sweeping organizational overhaul in years, according to an internal memo.
A data leak revealed last week at BlackRock Inc. exposed names, email addresses and other information of about 20,000 advisers who are clients of the asset manager, including 12,000 at LPL Financial, the largest U.S. independent broker dealer.
BlackRock Inc., the world’s largest asset manager, inadvertently posted confidential information about thousands of financial advisor clients on its website.