UBS Advice Advantage, built in collaboration with tech developer SigFig over a roughly 18-month period, has a minimum investment of $10,000 and an advisory fee of 75 basis points.
Merrill Lynch's advisor headcount, at 14,829, was up 2% from the year-ago period but down 1% from the prior quarter. The company said the slight quarter-to-quarter decline was due to seasonal trends, which led to fewer hires into its training program
In March, Rockefeller & Co. transformed into Rockefeller Capital Management following a transaction led by former Morgan Stanley wealth management chief Greg Fleming, with financing from hedge fund Viking Global Investors.
In light of recent stock market volatility, meanwhile, 77% of respondents say they’re turning to alternative investments, 55% say they’re favoring index funds and 45% favor emerging market equities, according to the survey.
The asset manager completed its acquisition of Guggenheim Investments’ $39 billion ETFs, it announced Monday, and already it’s slashing fees on some of those funds as it looks to lure new assets.