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Cathie Wood, the founder of ARK Invest, has amassed legions of obsessed followers.
Wood has become a favorite of the Wall Street Bets crowd, and successfully kept control of her firm.
Now, with assets accumulating and new funds coming out, the question is, can she sustain her success?
So far, this year has belonged to Cathie Wood. You could argue last year did too.
The founder of ARK Invest has seen flows into her active exchange-traded funds beat those of massive franchises like BlackRock s iShares, thanks to her blockbuster 2020 performance, which was driven by bets into mega-growth stocks like Tesla.
Goldman Sachs
Goldman Sachs launched its robo-advisor, called Marcus Invest, to the public on Tuesday.
It s launching into a crowded space, competing with startup and bank-owned robo-advisors.
Sonali Divilek and Andrea Finan, executives overseeing the roll-out, laid out the product s plans.
Goldman Sachs is finally launching its do-it-yourself wealth management offering to the public, marking a milestone in the elite firm s quest to appeal to Main Street.
The bank rolled out Marcus Invest, its automated investment tool with a $1,000 account minimum, on Tuesday after having previously faced delays as a result of the pandemic.
Marcus Invest is set to compete with startup robo-advisors and bank-run products like Bank of America s Merrill Guided Investing, and will charge an annual advisory fee of 0.35%, billed quarterly. Wealthfront and Betterment, the standalone robo-advisors that launched around a decade ago, both charge an annual advisory fee of
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Firms are pushing deeper into sustainability as Biden s administration eyes a stronger ESG approach.
The administration has already ushered in wins for climate activists and may finally look to define ESG.
We asked industry insiders how firms were addressing the rise in socially responsible investing.
This story was originally published on February 9, 2021, and has been updated to reflect ESG-related statements the SEC has made since then.
President Joe Biden s administration has already ushered in wins for climate activists, from rejoining the Paris climate agreement to banning oil companies leases on federal land.
The hold in trainees client prospecting activity can have a meaningful impact on trainees morale. If advisors-in-training are not able to build their networks and books of business, their progress can be stunted.
The person familiar with the matter, who requested anonymity to speak freely, said some trainees are frustrated and in limbo. The program trains some 3,000 to 3,500 at any one time.
The Financial Advisor Development Program (FADP) and ones like it across Wall Street generally have low graduation rates, as many drop out of the intensive, multi-year program or shift to other areas of the bank. We announced in October a new Advisory division within Merrill, now responsible for advisor training and development. Our prospecting pause remains in place while the leadership of this new division refines our strategy and approach to improving the early and long-term success of our advisors, a Merrill spokesperson said.
Affirm s huge IPO pop - Citi wealth shakeup - Bank earnings sneak peek
Dan DeFrancescoJan 14, 2021, 20:53 IST
Max Levchin, Affirm CEOGetty
tech startup with a well-known founder went public, and the stock went ballistic.
Affirm made its public debut Wednesday (more on that below). As is the case with other recent tech IPOs, the stock surged once trading began, rising as much as 110% above its initial offering price of $49.
We re written a lot about the IPO market exploding in recent months, but some of those stories are worth revisiting around why the IPO market is so hot and how Airbnb and DoorDash failed to reinvent the process.