Wealth Management Daily Memo

JULY 23, 2021

FINRA Mulls New Guidance, Rulemaking After GameStop Saga

Patrick Donachie

At a SIFMA forum, FINRA Chief Legal Officer Bob Colby said the agency would consider new guidance and rules after this year's market volatility.

ETFs

Fund News Advisors Can Use: Parametric Brings Tax Loss Harvesting Downstream

Diana Britton

In this week's fund news, Parametric debuts lower minimums for tax-managed SMAs; Viridi launches first clean energy crypto mining fund in the U.S.; and index-based products drove a notable record for fund inflows over the first half of the year.

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HNWIs’ ESG investing needs and what they expect from their wealth manager

Goldman Spinoff Simon Tops $800 Million as WestCap Invests

Gillian Tan (Bloomberg)

The funding round will enable the New York-based firm to expand into alternatives like private equity and hedge funds, as well as digital assets.

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Industry

This Week in Wealth Management Deals

Asia Martin

The advisor moves and acquisitions you may have missed the week of July 19-23, 2021.

Alternative Investments

Empty Wall Street Tower Spotlights $5 Billion NYC Office Problem

Natalie Wong and Maria Heeter (Bloomberg)

Landlords of dated properties are in a tough spot, forced to plow cash into pricey renovations to stay competitive in a moribund market.