A new survey conducted by Linqto, a financial technology investment platform, has highlighted significant gender disparities in investment preferences, particularly in emerging technologies. The survey included more than 2,500 accredited investors from diverse demographic backgrounds, providing a comprehensive snapshot of trends in both traditional and alternative investment sectors. The findings indicate a notable divergence in how male and female investors approach the market, especially in areas like blockchain, cryptocurrency, and alternative investments. Approximately 52.24 percent of mal ..read more

Rockefeller’s asset management division is beefing up its fixed income capabilities by adding three investment experts to its bench. On Monday, Rockefeller Asset Management announced the hiring of three seasoned municipal bond experts, marking a significant expansion in its fixed income sector. Scott Cottier is the unit’s new managing director, while Mark DeMitry and Michael Camarella are coming on board as senior vice presidents to the firm’s fixed income business, which oversees about $5 billion in assets. The trio, each boasting over two decades of collaborative investment experience, previ ..read more

The first three month of 2024 were the second best start to the year on record for wealth management firms in regard to deal making and transactions, according to a new report from Echelon Partners, a boutique investment bank focused on mergers and succession planning in the wealth and investment management industries. In the first quarter of the year, there were 90 announced transactions, according to Echelon, representing a 20% increase over the same period last year, when 75 deals were announced. The first quarter of 2024 was the second most active first quarter on record, according to Eche ..read more

Take note financial advisors, all that glitters is not gold. Silver can shine too sometimes. The SPDR Gold Trust (Ticker: GLD) is up over 13 percent so far this year and 18.2 percent over the past 6 months thanks to geopolitical worries, central bank buying, dollar destabilization, Indian weddings and whatever else drives the price of the yellow metal. As even the top Wall Street precious metals strategists will attest, it’s not easy to pinpoint the exact reason for price moves in gold. Often, like in religion, it’s a matter of belief. Yet for all gold’s luster both in jewelry and safety depos ..read more

The ongoing tsunami of mutual fund-to-ETF conversions has finally reached BlackRock. The world’s largest asset manager has bared plans to convert its BlackRock International Dividend Fund, currently holding assets worth over $700 million, into an exchange-traded fund by November. This shift, which BlackRock revealed in a prospectus supplement filed with the SEC, reflects a growing industry trend where asset managers transition mutual fund assets to ETFs to leverage their lower costs and tax benefits. Eric Balchunas, a senior analyst at Bloomberg Intelligence, noted that approximately 70 funds ..read more

LPL has made a significant addition to its network in Texas as it welcomes a breakaway advisor from Merrill Lynch. The firm announced that Clayton Ortloff, who focuses on multi-generational high-net-worth families in the oil and gas sector, has established an affiliation through its supported independence model, LPL Strategic Wealth Services. Based in Midland, Texas, Ortloff has launched his own independent practice, Heritage Private Wealth, which aims to deliver personalized wealth management services, which run the gamut from diversification strategies and concentrated stock positions to leg ..read more

Ritholtz Wealth Management is broadening its presence in the West Coast with a new foothold in California. The national registered investment advisor, which oversees more than $4 billion in assets, announced the opening of a new office in Los Angeles’ Manhattan Beach neighborhood. The move follows its recent expansion into Charlotte, North Carolina, and is part of the firm’s ongoing strategy to broaden its reach and reinforce its commitment to providing financial planning and asset management. The Los Angeles office will be led by Michelle Katzen, a senior advisor with a record in the financia ..read more

The stakes are high for America’s technology behemoths to start delivering on artificial intelligence promises with their earnings poised to decelerate, according to Bank of America Corp. strategists. Microsoft Corp., Google parent Alphabet Inc., Meta Platforms Inc. and Tesla Inc. report results this week, kicking off earnings for the so-called Magnificent Seven. The group is still expected to post growth of 39% from the first quarter a year ago, but that’s down from 63% in the final three months of 2023, per BofA’s estimates. With AI seen as the key to future profits, its contributions to the ..read more

Goldman Sachs Group Inc. is closing down its automated-investing business for the masses after clinching a deal with Betterment. The bank has struck an agreement to transfer clients and their assets from the unit known as Marcus Invest to Betterment, a $45 billion digital investment-advisory firm. The transfer is expected to be completed by the end of this quarter. “This acquisition further cements our leadership in the digital investing space,” Betterment Chief Executive Officer Sarah Levy said in an emailed statement. The firm’s assets have roughly doubled since Levy took over as CEO at the ..read more

The Department of Labor is set to unveil its highly anticipated fiduciary rule, dubbed the Retirement Security Rule, on Tuesday, marking a significant update to the regulatory landscape governing retirement investment advice. The announcement, scheduled for 5 p.m. in the Treaty Room, will be made by Acting Secretary of Labor Julie Su, according to the National Association of Plan Advisors. This development follows the recent clearance of the rule by the White House’s Office of Management and Budget on April 10, signaling an imminent release that stakeholders have been expecting. That move by t ..read more