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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.

Loans and hardship withdrawals from 401(k)s on the rise
RETIREMENT RETIREMENT PLANNING NOV 23, 2022
Loans and hardship withdrawals from 401(k)s on the rise

The portion of savers taking money from their retirement accounts for hardships spiked 24% in the 12 months through Sept. 30.

Goldman Sachs to pay $4 million SEC penalty in ESG fund case
INVESTING ESG NOV 22, 2022
Goldman Sachs to pay $4 million SEC penalty in ESG fund case

The regulator claims Goldman's asset management unit failed to properly weigh environmental, social and governance factors in some investment products.

Morgan Stanley's richest clients being offered Tiger Global venture fund
INVESTING ALTERNATIVES NOV 17, 2022
Morgan Stanley's richest clients being offered Tiger Global venture fund

The investment firm has tapped Morgan Stanley's wealth management arm as it seeks to raise $6 billion for its next venture fund.

Lame-duck Congress eyes $100 billion tax-cut package
NEWS REGULATION AND LEGISLATION NOV 16, 2022
Lame-duck Congress eyes $100 billion tax-cut package

Republicans want tax breaks for private equity, manufacturers and businesses, while Democrats want to expand the child tax credit.

CI Financial to separate US, Canada units as debt concerns rise
NEWS RIAS NOV 11, 2022
CI Financial to separate US, Canada units as debt concerns rise

The Toronto-based firm said it will use the proceeds of the planned IPO of its US wealth management unit to improve its balance sheet.