One inevitable change caused by low-cost, online competition is how advisors will structure their compensation, said Brian Leitner, senior vice president of practice management at Mariner Wealth Advisors.
Having developed robo platforms for retail clients and advisors, Betterment is expanding further into the asset management industry with a 401(k) offering for businesses.
Once a source of agita mainly for commercial banks and credit card companies, hackers are now training their sights on investment firms, broker-dealers and hedge funds.
Heightened demands for data from regulators has meant the past practice of using spreadsheets to collect information is not only outmoded, but could leave a firm exposed to liabilities.
Though technical issues with Bank of New York Mellon's fund accounting system left an estimated 10% of U.S. ETFs and some mutual fund providers unable to accurately price their products for nearly a week, the bank's custody business is expected to remain intact.
While IT budgets at buy-side firms have not fully recovered from the cutbacks of the Great Recession, front-office demands keep growing in quantity, complexity and required speed of response.
Rob Goldman founded Goldman Small Cap Research (GSCR)--not affiliated with Goldman Sachs--in 2009. He has over 20 years of investment and research experience as a senior research analyst and as a portfolio and mutual fund manager.
For the last several years the investment management industry has seen a seismic shift towards outsourcing middle and back-office activities.
During the crisis of 2008, service providers faced an environment in which they saw their clients' assets decline sharply.
Executives at mutual fund companies, asset management companies and support providers rated client reporting--which included any reporting that is created for the purpose of distribution to clients--as their top challenge followed closely by risk management in Money Management Executive's third annual Operations Survey.