McKee highlights business vaccination efforts, says state beaches will open at 100% capacity
Updated at 2:45 p.m. on April 29, 2021.
CONFIRMED CASES OF COVID-19 in Rhode Island increased by 264 on Wednesday. / COURTESY R.I. DEPARTMENT OF HEALTH PROVIDENCE – At the state s weekly COVID-19 press conference, Gov. Daniel J. McKee said the state has moved into the next phase of vaccine distribution, which is “meeting people where they are, bringing shots to Rhode Islanders.” As part of this new phase, businesses in the state have begun to create partnerships to get their…
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New investors strain online brokerages: J.D. Power
Account openings at online brokerages have skyrocketed, but the number of problems cited by customers have doubled during the past year.
April 28, 2021 3 MINS
Financial advisers are not alone in struggling to meet their clientele’s heightened expectations around customer experience. Online brokerages, too, are trying to smooth the bumps following the recent explosion of new users moving to online investing platforms.
More than 10 million new brokerage accounts opened in 2020 as a surge of new retail investors entering the markets via online platforms skyrocketed during the pandemic, according the J.D. Power 2021 U.S. Self-Directed Investor Satisfaction study released Tuesday.
Morgan Stanley sells ETrade’s custody business in $55 million deal
CEO James Gorman never could muster much enthusiasm for ETrade Advisor Services, which would have been a direct competitor to the bank s 16,000 financial advisers.
April 20, 2021
After failing to muster much enthusiasm for ETrade Financial Corp.’s small but promising RIA custody business, James Gorman, CEO of Morgan Stanley, decided to unload it, agreeing on Tuesday to sell ETrade Advisor Services for $55 million in cash.
In 2017, ETrade acquired the RIA custody business through the purchase of Trust Company of America for $275 million in cash.
The buyer is Axos Financial Inc., parent of Axos bank, which is trying to grow its Axos Clearing business. ETrade Advisor Services does custody of client accounts for 200 registered investment advisers with $23 billion in assets and $1.2 billion in client cash.
First inverse Bitcoin ETF to debut for betting on crypto plunge
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Last Updated: Apr 15, 2021, 07:24 AM IST
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Horizons ETF is releasing a fund (ticker BITI) that will allow investors to take short positions on Bitcoin futures.
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By Claire Ballentine
Canada is once again beating the U.S. in a Bitcoin milestone, as the first inverse Bitcoin exchange-traded fund will debut Thursday on the Toronto Stock Exchange.
While regulators south of the border hold off approving any ETFs that track the cryptocurrency, Horizons ETF is releasing a fund (ticker BITI) that will allow investors to take short positions on Bitcoin futures, according to a statement.
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