Passive funds' share of the domestic equity-fund market is close to 58%, but the active-versus-passive debate has become more heated amid the recent stock turmoil.
Three dividend-focused ETFs rank among the top 10 in terms of equity inflows, and on the fixed-income side, Treasuries have seen a fierce rally.
Atlanta-based Bison Wealth provides back-office support for advisory firms in exchange for a share of their revenues.
The tax deal in the Senate would eliminate the tax break used by private equity and hedge fund managers.
Inflation undercut consumer spending and Federal Reserve interest-rate hikes stymied businesses and housing.
Several House Democrats have said their support of any tax-code changes is contingent on raising the SALT cap.
Chair Jerome Powell says Fed will slow the pace of rate hikes at some point and would set policy on a meeting-by-meeting basis.
The FOMC is expected to raise rates by 75 basis points with investors seeking signs of a downshift in September.
A vast swathe of the US yield curve inverted in recent weeks as recession fears spurred investors to pile into longer maturities.
The firm is facing a probe into whether it improperly let Americans trade digital assets that should have been registered as securities.
