Wealth Management Daily Memo

OCTOBER 13, 2017

PEOPLE

Trump Nominates New Assistant Secretary of Labor

Diana Britton

Preston Rutledge will fill the role at the Department of Labor once held by Phyllis Borzi, who was instrumental in crafting the fiduciary rule.

TECHNOLOGY

BlackRock Forms New Digital Wealth Business Unit

Ryan W. Neal

The new team consolidates the firm's varying technology products to focus on improving user experience.

SPONSORED CONTENT

Two reasons active management may be coming back into favor

Sponsored by Fidelity Investments

With changing economic and market conditions, the time may be right for actively managed U.S. large-cap funds to take the lead.

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INDUSTRY

Markets, Advisor Growth Help Merrill Lynch Maintain Performance In the Third Quarter

Michael Thrasher

The wealth unit’s net income was up 10 percent year-over-year, and client balances hit a record high.