Schwab reports record $24 billion managed investing flows as it develops proprietary long-short strategy
Fund launches outnumbered breakaways nearly five to one in the past 30 days, while advisor moves were the busiest category.
At a glance
Schwab reported a record $24 billion of net flows into its managed investing business in the third quarter, and the firm is developing a proprietary long-short investment strategy.
Fund launches totaled 358 in the past 30 days, nearly five times the 74 breakaways, according to The Daily Network.
Advisor moves were the busiest category, with 951 events in the same 30 days, according to The Daily Network.
Schwab reported a record $24 billion of net flows into its managed investing business in the third quarter, and the firm is developing a proprietary long-short investment strategy.
MassMutual launched a securities-backed credit line with Supernova. A client borrowing against a portfolio can raise cash without selling assets.
Fund launches totaled 358 in the past 30 days, nearly five times the 74 breakaways, according to The Daily Network. A breakaway is a team leaving a wirehouse or bank for independence; a fund launch is a product going to market. The comparison counts events, not assets raised.
Advisor moves were the busiest category, with 951 events in the same 30 days, according to The Daily Network. LPL Financial had 121 tracked events and UBS had 98.
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