Monday morning briefing – June 10, 2019

Banks can make privacy a competitive advantage. High-net-worth investors are looking for private equity. The difficulties facing fintech firms as they cross borders. And much more in this week’s briefing.

Economic/industry news

The U.S. unemployment rate was steady at 3.6% in May: Jobs report: U.S. economy adds disappointing 75,000 jobs in May, unemployment rate holds at 3.6%

Canadian unemployment rate fell to its lowest level since 1976: Canada added 27,700 jobs in May; unemployment rate hit record low

ECB holds rate steady, pushes out possible rate increase: Euro rises as ECB pushes back rate hike deadline; raises inflation forecast

Would the Fed be willing to cut rates?: Powell hints Fed will cut rates if needed over trade wars

What the next recession could look like: Gauging the next recession’s severity

The benefits of farmland in a pension portfolio: A look at the role of farmland in pension portfolios

Sustainalytics launches ESG screening product: Sustainalytics launches new ESG screening tool and engagement service

News and notes (U.S.)

Who can replace a legend?: The race to replace Larry Fink

What to look for in an outsourced trading partner: Key considerations when choosing an outsourced trading partner

Regrets about going public: Apollo founder ‘absolutely’ regrets taking the firm public

A look at the next CIOs: II’s most wanted allocators: First team

The largest PE firms have been able to diversify across asset types: A new era of scale in the private capital markets

Fidelity reduces fees on target-date funds: Fidelity cuts target-date mutual fund fees as price war spreads

The SEC passed the Regulation Best Interest proposal: SEC passes regulation best interest by 3-1 vote

Household wealth in the U.S. up, growth rate of debt slowed: U.S. first-quarter household wealth hits record as stocks surge

News and notes (Canada)

Fidelity launches ESG funds: Fidelity launches 3 funds aimed at positive change

May was the best month in 2019 for ETF inflows: Canadian ETF inflows in May are the year’s strongest so far

The Canadian ETF industry still has a lot of room to grow: Why Canada’s ETF industry hasn’t peaked yet

An in-depth look at the Canadian mutual fund industry: Mutual Fund Guide 2019

Looking at the compliance challenges facing investments: OSC to launch new advisory committee

Protection of vulnerable investors a top priority of IIROC: IIROC sets strategy through 2022

On the pulse – New frontiers in fintech

Regulators and fintech firms need to coordinate efforts to create a better environment for innovation: BankThink Fintechs, regulators need more common ground

Making money in mobile banking using big data: Data can move mobile banking from ‘convenient’ to ‘monetized’

The difficulties facing fintech firms as they cross borders: 3 challenges of scaling a fintech company across borders

Creighton University introduces a degree in fintech: Creighton University among the first to create a fintech degree

The opportunity and risks of deploying AI: The potentials and pitfalls of applying AI in the financial industry

The U.K. has seen a rise in mobile banking, less use of cash: Rise in mobile banking and contactless as consumers take pick ‘n’ mix approach to payments

Banks can make privacy a competitive advantage: Why now is the ideal time for banking brands to assert their privacy role

Banks’ adoption of open banking will take time and trust: Mastercard’s Wadsworth: Banks need time to fit into open banking future

Why tech talent should consider banking: The war for (banking tech) talent

High-net-worth topics

How to advise people who come into sudden wealth: Advising ‘Jeopardy!’ champ Holzhauer on his $2.5 million payday

The high-net-worth rank trust as the number one requirement in an advisor: Satisfaction and loyalty just the start for high-net-worth clients

The high-net-worth are looking for private equity: Russ Prince: Wealthy investors want more private equity

Polls & surveys – What financials are saying

Asset managers are looking at creating ESG products (Cerulli): More than half of asset managers considering ESG products, Cerulli says

Some doctors are worried about unexpected expenses (MD Management): Is your doctor client worried about finances?

Combining human advice with robo may become the best approach (IFIC): Hybrid distribution channels set to rise: IFIC

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