Monday morning briefing – April 1, 2019

Blockchain is a foundational technology that will take decades to foster. The wealth management industry must take note of how women entrepreneurs are managing their portfolios. Banks must partner with tech firms to avoid losing business to challenger banks. Are there enough private investment opportunities to meet demand? And much more in this week’s briefing.

Economic/industry news

U.S. economic growth was revised down to 2.2%, annualized, in the fourth quarter: U.S. economy revises down Q4 growth rate to 2.2% 

What does the inverted U.S. yield curve mean for the economy?: The yield curve just inverted, putting the chance of a recession at 30%

The BoC could be forced to hold interest rates steady as Canada’s yield curve inverted: Canada’s inverted yield curve signals holding pattern for Poloz

FTSE Russell to launch an indicative digital assets index: FTSE Russell to establish indicative digital assets index

Passive to overtake active in the next couple of years, according to Moody’s: Moody’s declares passive investments will surpass active in 2021

Dispelling some ESG investing myths: Ignore the myths: Factor and ESG investing work together

News and notes (U.S.)

Three quarters of hedge fund managers had a positive month in February: Hedge funds continue recovery in February

BlackRock purchases eFront: BlackRock’s Aladdin adds alts power

Are there enough private investment opportunities to meet demand?: Not enough private equity to go around

Charles Schwab introduces flat-fee subscription pricing plan for its premium digital advisory services: Why Schwab’s new pricing plan is a big deal

Regulation Best Interest still a top priority for the SEC: Clayton declines to share timetable for best interest rule

A look at retirement from J.P. Morgan: The 4% retirement rule is back: J.P. Morgan

Public employees likely to stay in retirement plans if they were automatically enrolled: Public fund employees are big fans of auto enrollment – survey

Customized target-date funds’ assets on the rise: Custom target-date funds growing in U.S.: survey

Mutual fund assets were $14.8 trillion at the end of February: Mutual fund assets start year with a growth spurt: Cerulli

News and notes (Canada)

Scotiabank launches the Scotiabank Healthcare+ Physician Banking Program: Scotiabank caters to physicians with new suite of banking services

How the federal budget could impact investors: Federal budget impacts investors, employees, retirees

A look at the OSC’s policy priorities for the next year: OSC will continue to focus on DSCs, client-focused reforms

Onex announces purchase of Gluskin Sheff + Associates: Gluskin Sheff surges on Onex takeover deal 

Now that all of the major banks offer ETFs, will it change the investment fund industry?: ETFs: all the banks are in

On the pulse – New frontiers in fintech

Banks must partner with tech firms to avoid losing business to challenger banks: Citi urges incumbents to grow their own challenger brands as new entrants shrink the market 

Big data can help all facets of the asset management business: Big data helps asset management industry across value chain 

Blockchain is a foundational technology that will take decades to foster: Blockchain is dead 

Eliminating paper cheques for businesses: Mineral Tree offers businesses an alternative to paper checks 

U.K. financial services firms not prepared for the AI revolution: The financial services industry is not ready for the AI revolution, new study finds 

The Federal Reserve Bank of New York establishes advisory group to review and provide guidance on fintech: New York Fed launches fintech advisory group 

The Information Commissioner’s Office in the U.K. looking to provide environment to support innovation: ICO opens sandbox beta phase to enhance data protection and support innovation

A look at the new Apple Card: How Apple Card works

Innisfil, Ontario to begin accepting bitcoin as payment for property taxes: Ontario town to accept bitcoin for tax payments, in one-year pilot project

High-net-worth topics

The wealth management industry must take note of how women entrepreneurs are managing their portfolios: How women entrepreneurs are redefining wealth management:

High-net-worth clients are demanding private investments, here is how to help them: Russ Prince: Here’s how to help your wealthy clients invest in PE

Polls & surveys – What financials are saying

More than half of gig workers are saving for retirement (T. Rowe Price): Gig workers report being more involved in their finances 

Signals point to a weak Canadian economy in the first half of 2019 (Russell Investments): Modest weakness for Canada in Q2: Russell Investments

Canadians approaching retirement saw their wealth increase, largely due to real estate (C.D. Howe): Housing market boosted wealth of Canadians approaching retirement

For financial marketing and investment commentary help, contact us at 1.844.243.1830 or info@ext-marketing.com.