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Galvin examining ‘surprise’ taxes on target-date funds
The Massachusetts securities regulator's latest sweep targets the broker-dealers of the largest fund companies in the industry: Vanguard, Fidelity, T. Rowe Price, BlackRock and American Funds.
ETFs set another record in race to take over mutual funds
In stride with record net inflows, the ETF industry is launching new funds and finding creative ways to take market share from the legacy mutual fund space.
BlackRock to pull bulk of U.S. ETF assets from State Street
In a move to reduce its reliance on State Street's custody services, BlackRock will shift 40% of the $2.2 trillion in assets to Citigroup, 30% to JPMorgan Chase and 15% to Bank of New York Mellon.
BlackRock’s Fink puts private equity on the front burner
CEO Larry Fink said access to private equity should increase and allocations should be in the 20% range, while speaking at the Charles Schwab Impact conference.
ESG space should welcome the regulatory spotlight
Support from corporate executives and slick marketing is no match for rules and regulation when it comes to managing sustainable portfolios.
Direct indexing emerges as must-have tool for tax management, ESG investing
The trend toward offering customizable indexes puts direct indexing on a track for explosive growth, according to new research from Cerulli Associates.
Vaccines encouraged at most advisory firms — but not required
The industry has differing views on vaccine requirements. BNY Mellon Pershing will start requiring them next month, while Vanguard Group Inc. is offering cash rewards.
Invesco bets on $18B in BlackRock assets being up for grabs
Two new Invesco ETFs track tech indexes abandoned by iShares ETFs; Invesco is also waiving fees on the new funds for six months to entice investors.
Vanguard jumps on the ETF share-split bandwagon
The surging bull market for stocks has increased the need to split shares to keep prices manageable for investors.
The ESG space must take a hard line on greenwashing
The industry is nowhere near settled on a common vernacular. The ESG space needs more clarity and writing off greenwashing is not helping anyone.
401(k) lawsuit update: 2 dismissals, 2 settlements
Abbott Labs and Genentech won dismissals in cases against them, although plaintiffs can refile their complaints. Cerner Corp. and BlackRock have reached settlements in class-action cases against them.
Advisers agree: It’s time to stop ignoring Bitcoin
Bitcoin's rally and an increase in institutional adoption amplify the need for advisers to educate themselves on cryptocurrencies.
BlackRock’s Fink says investors are shifting to ESG-focused firms
CEO says companies that best embrace 'stakeholder capitalism' are outperforming their peers and will continue to do so
Advisers want more engagement from asset managers: J.D. Power
Firms who build strong digital relationships with advisers are reaping the benefits, according to the study
BlackRock’s Larry Fink worries about corporate culture while working from home
'I don't believe BlackRock will ever be 100% back in the office,' he said at the Morningstar virtual conference
Addepar taps BlackRock exec as CTO
Ruchir Swarup becomes the firm's chief technology officer after almost 20 years at the asset manager
Wall Street tries to figure out which ETFs the Fed will buy
The central bank is expected to target the giant fixed-income ETFs; it may also invest in funds with defined maturity dates
BlackRock partners with Microsoft to bolster Aladdin platform
The asset manager will use the software giant’s Azure cloud platform
BlackRock learns it ain’t always easy being green
New reports show how even the world's largest asset manager at more than $7.8 trillion and one of the most vocal proponents of environmental, social and corporate governance causes can be guilty of greenwashing.
BlackRock’s CEO warns against sitting in cash
Fink joins Bridgewater's Dalio in urging investors to stick with stocks.