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Robinhood goes after retirement dollars
RETIREMENT RETIREMENT PLANNING DEC 07, 2022
Robinhood goes after retirement dollars

The brokerage platform has launched Robinhood Retirement, which lets users open IRAs on its platform and matches 1% of their contributions.

Vanguard pulls out of climate-finance alliance
INVESTING ESG DEC 07, 2022
Vanguard pulls out of climate-finance alliance

The asset manager said it is withdrawing from the Net Zero Asset Managers initiative in a move to maintain the freedom not to restrict its investment options.

GOP senators amping up efforts to rein in BlackRock, State Street, Vanguard on ESG issues
INVESTING ESG DEC 07, 2022
GOP senators amping up efforts to rein in BlackRock, State Street, Vanguard on ESG issues

Report says the asset managers are using their stakes in public companies to cast proxy votes that favor a ‘liberal political agenda.’

Morgan Stanley cutting workforce while Goldman warns of job cuts
YOUR PRACTICE PRACTICE MANAGEMENT DEC 07, 2022
Morgan Stanley cutting workforce while Goldman warns of job cuts

As the U.S. braces for a recession, Morgan Stanley is reducing its global head count.

Blackstone’s $69 billion real estate fund hits redemption limit
INVESTING ALTERNATIVES DEC 02, 2022
Blackstone’s $69 billion real estate fund hits redemption limit

The firm's announcement that it will limit redemptions from the fund sent its stock falling as much as 10%.

BlackRock blindsided by Florida’s decision to pull $2 billion in anti-ESG move
RETIREMENT RETIREMENT PLANNING DEC 02, 2022
BlackRock blindsided by Florida’s decision to pull $2 billion in anti-ESG move

The asset manager wasn’t aware of the decision until reading about it in a statement from Florida Chief Financial Officer Jimmy Patronis.

Naureen Hassan to oversee UBS Americas' digital-focused teams
YOUR PRACTICE FINTECH DEC 01, 2022
Naureen Hassan to oversee UBS Americas' digital-focused teams

The groups that Hassan will take responsibility for were previously part of the global wealth-management operation.

BlackRock's Fink predicts most crypto firms will fold in wake of FTX meltdown
INVESTING ALTERNATIVES NOV 30, 2022
BlackRock's Fink predicts most crypto firms will fold in wake of FTX meltdown

BlackRock was among the financial firms stung by the bankruptcy of the crypto exchange, having invested roughly $24 million in FTX through a fund of funds.

UBS retreats from plans to target US mass affluent clients
YOUR PRACTICE PRACTICE MANAGEMENT NOV 30, 2022
UBS retreats from plans to target US mass affluent clients

Chairman Colm Kelleher said the bank has been slow to identify cross-selling opportunities to wealth management clients.

Bitwise files for bitcoin futures ETF despite crypto woes
INVESTING ALTERNATIVES NOV 28, 2022
Bitwise files for bitcoin futures ETF despite crypto woes

The Bitcoin Strategy Optimum Yield ETF would offer managed exposure to bitcoin futures contracts traded on the CME and investments in short-term debt securities.