Merrill to charge asset managers up to $1.4 million for data and shelf fees
The wirehouse's updated Form ADV filings tell clients that paying for data analytics gives it a financial incentive to recommend third-party managers' products over those that do not pay.
Bitwise's crypto models rebalance on Vise's engine, alongside the rest of the book
The crypto sleeve now follows the same rebalancing schedule and tax treatment as every other holding, which is the version of digital assets that scales across a book.
California billionaire-tax measure goes to voters in November with legal risk unresolved
A Tax Foundation panel calls the measure a first-in-a-nation state wealth tax and leaves valuation, constitutional challenge and whether California would ever collect unresolved.
UBS hires Merrill’s John Pham and Jimmy Yip, a $7.5 million Silicon Valley team
The pair’s $7.5 million production fell short of the $10 million minimum for a 16-year offer paying 550% of revenue, while sources put the book between $575 million and $1.2 billion.
Modern Wealth logs six advisor moves and a four-advisor liftout in one day
The Sept. 28 records show the week's largest single advisor count; UBS and Raymond James each lost three-advisor teams earlier in the week.