Global assets under management (AuM) will rise to around $101.7 trillion by 2020, from a 2012 total of $63.9 trillion, says a PwC report released today. This represents a compound annual growth rate (CAGR) of nearly 6%.
"The lack of widespread use of in-plan retirement income solutions means assets accumulating in a defined contribution (DC) plan will eventually shift to an IRA," states Bing Waldert, director at Cerulli.
"The allocation to ETFs among RIAs grew 48% from 2011 to 2012," comments Kenton Shirk, associate director at Cerulli. "The RIA channel is an extremely attractive opportunity for asset managers."
Following an article published by CBS News, Hobart Financial Group, a leading wealth management firm, reviews the new “myRA” plan and how it could impact American retirees.
The former Bank of America Corp. and Citigroup Inc. executive, said women haven’t climbed Wall Street’s corporate ranks after the 2008 credit crunch because men tend to hire people like themselves when facing a crisis.