Chairman and CEO Paul Reilly said the firm will “embrace flexibility” and various work arrangements, although it has set a date for its workforce to return to the office.
“We kind of think we’re creating—and not to be arrogant about it—but a new mousetrap," said CEO James Gorman. “You’ve got three legitimate channels pouring assets into the house.”
Hybrid b/d and RIA Cascade Investment Group recommended high-fee mutual fund share classes when cheaper options were available and failed to disclose the fact, the SEC claims.
While fiduciaries do not have to avoid ESG-related investments, they do need to put them through the same prudent, thorough and well-documented process that they use to consider all plan investments.
