(Bloomberg) — PGIM is looking to grow its private market assets by more than 50% to $500 billion in the next five years, with a big push into private credit through acquisitions. The New Jersey-based money manager is evaluating options to buy asset-backed financial firms with particularly strong origination capabilities, Eric Adler, chief executive of…

Fidelity Investments and Envestnet have unveiled several new and upcoming enhancements to the Fidelity Managed Account Xchange (FMAX) platform. FMAX now includes tax management for model portfolios, including Fidelity Custom Models. Additionally, a scaled-down version of the platform, FMAX Essentials, is slated for launch later this year and is targeted at small and medium-sized firms….

After a relatively quiet April, asset managers picked up the pace of launches in May with 50 new funds entering the market. Source link

Staying the course and not deviating from existing strategic asset allocations is the best plan for RIAs and retail investors in the current market, according to Sebastien Page, head of global multi-asset and CIO of T. Rowe Price. Page said this during a discussion of a recent Schwab Asset Management sentiment survey of retail investors…

As a Medicare expert with over three decades of experience, I have worked closely with countless individuals, families and professionals navigating the complexities of Medicare. A recurring issue I've identified is the gap in understanding that many financial and estate planners have regarding Medicare costs and how they affect their clients' overall planning strategies. This…

You might want to revisit if you're still skeptical about cryptocurrency or its ability to do something positive for society. I am aware of one charity that has a crypto gift of nearly $900 million – with several similar gifts in the pipeline. Increasingly, charities are viewing crypto gifts as gifts of low-basis assets that…

If the lawsuit filed by the children of late Band guitarist Robbie Robertson sounds like a broken record, that's because we unfortunately hear about this scenario all too often. Robertson's children are accusing his widow, Jane Zuccarini, of fraud and financial abuse of the elder, alleging that she took advantage of an ailing and vulnerable…

With the pervasiveness of algorithmic interfaces across information, retail and social media platforms, younger generations increasingly value – and expect – personalized experiences. Research reveals that 71% of consumers expect companies to provide personalized interactions, and 76% report being frustrated when they are not offered personalization. Finance is no exception to these expectations, with 70%…

Jeremy Eisenstein, managing director, Goldman Sachs, talks with Diana Britton, managing editor, Wealth Management.com, about creating choice and growth potential for RIAs in the custody space. It describes the access advisers get from the firm, including various asset classes such as alternatives, but most importantly, a direct line to the intellectual capital behind Goldman—the subject…

Trust & Will's Andrew Mazabel discusses what's at stake for advisers who don't offer estate planning as a service. Source link