Wall Street celebrated that news, with US stocks posting their biggest gains since March.
Firms peg loans to billionaires and millionaires as key area for growth.
Harassment allegations spur increase of female leadership in stock-picking unit
An explosion in wealth in the wake of the financial crisis has banks targeting the growing ranks of super rich.
Hopes for a pause in the Fed's rate hikes and Trump's coming meeting with China's president have fueled bullishness.
Flows into both sectors reflects division over the outlook for the economy
Inability to deduct management fees will make the funds, which are struggling this year, even less attractive to investors.
Stocks look cheap after their losses this fall, but if earnings deteriorate, they could fall more.
At the same time, investors are pulling funds from high-yield bond funds.
Growth at the biggest tech companies is slowing at the same time criticism of Silicon Valley's monopolistic tendencies is rising
