(Bloomberg) — Investment manager MacKay Shields has launched an exchange-traded fund that will buy asset-backed securities, mortgage bonds and other investment-grade products in the structured finance market. MacKay, which is owned by insurer New York Life, launched the IQ MacKay Value Income ETF on May 31. As of Wednesday, the actively managed fund had $86…

(Bloomberg) — Final approval of exchange-traded funds tied to Ether, the world's second-most popular digital asset, could come this summer, Securities and Exchange Commission Chairman Gary Gensler told lawmakers. “Individual issuers are still working through the registration process which is running smoothly,” Gensler said during a hearing Thursday before a Senate Appropriations subcommittee. Connected: SEC…

By 2030, women will control most of the $30 trillion that is transferred from the baby boomers. Unfortunately, our industry has often dismissed the financial needs of female customers. Failure to adequately address the unique needs of this key demographic will have significant consequences for clients and financial advisors seeking to grow their businesses. Connected:…

(Bloomberg) — For James Bryant, balancing student loans with life and saving for retirement has been difficult. His employer, Verizon Communications Inc. offers a 401(k) match, worth up to 6% of his salary. But between loans, living expenses and money he sends to his parents, the 37-year-old hasn't always saved enough to get the full…

I am a career changer. I originally worked in leveraged finance when I left school. I always imagined myself as a working mother. I had three children. I was traveling from New Jersey to the city. Life throws you curves. It didn't work anymore. So, I left Wall Street. I used to work at home,…

For many financial advisors, their website is a critical tool for attracting new clients and building lasting relationships. However, reports indicate that almost 50% of visitors to financial services websites leave after viewing just one page – and that number is growing. For retail financial advisors, this challenge is even more pronounced. Many providers offer…

The mastermind behind esoteric funds like those that are now closed Inverse Jim Cramer ETF, Tuttle Capital Short Innovation ETF(an ETF designed to provide inverse returns to Cathie Wood's ARK Innovation ETF) and has leveraged single-stock ETFs for the likes and dislikes of Nvidia, Tesla and Alphabet has prepared a new bet: an ETF built…

Just a week after wrapping up its annual INSITE conference in Nashville, BNY Pershing has laid off its business advisory team and about half a dozen people in its products group, sources said. The business consulting team was responsible for helping RIA clients grow their businesses, while the product team delivers advisor products related to…

Insurers today are more willing to offer errors and omissions (E&O) coverage to RIAs for cryptocurrency investments than they were just two years ago, according to proprietary data from Golsan Scruggs, an insurance broker serving the utilities industry financial. This is provided that RIAs have obtained certification from appropriate industry groups, such as DACFP or…

When you're the technology leader at a $1 billion wealth management firm, there's a lot that can keep you up at night. Technology issues are evolving, but fortunately, so are the solutions. When it comes to the CTO role, technical and analytical skills are only part of the job. It may be that no skill…