Monday morning briefing – May 13, 2019

Banks must meet customers’ expectations of personalization. Advisor conversations about ESG investing are on the rise. How to effectively reach millennials through social media. And much more in this week’s briefing.

Economic/industry news

The U.S. inflation rate was 2.0% in April: U.S. consumer prices rise; underlying inflation tame

The Canadian unemployment rate fell to 5.7% in April: Canada surprises with biggest one-month jobs gain since 1976

The Fed is concerned with credit markets: Reshaped credit markets are spooking the Fed

Institutional investors looking to emerging markets for higher returns: Institutional investors are all in on emerging markets

A look back at the 2010 Flash Crash: Nine years on: The true story of the 2010 Flash Crash

Global regulatory review: FactSet regulatory update: May 2019

News and notes (U.S.)

The Eurekahedge Hedge Fund Index rose 1.13% in April: Hedge funds positive again in April after robust first quarter

A potential market downturn could mean more assets allocated to hedge funds: 4 out of 5 investors to bet bigger on hedge funds

Apollo planning to convert to a C-Corp: Apollo becomes latest PE bigwig to plan corporate conversion

The transformation of KKR: Gentlemen at the gate: With trillions pouring in, KKR and its peers must build up rather than break up

PIMCO adds Richard Thaler as a senior advisor: Pimco brings on Nobel-winning economist Thaler for advisory role

How Vanguard is deferring capital gains taxes on its mutual funds: Vanguard investors get control of paying taxes

Actively managed ETFs have been gaining traction in the market: Active ETFs gaining ground

News and notes (Canada)

TD launches more ETFs: TD launches three new equity ETFs

Canadian pension plans investing in AI venture capital fund: CPPIB, PSP part of group investing in new AI fund 

AdvisorSavvy launches advisor rating platform: Advisor rating site to offer marketing platform 

Scotiabank to launch Global Wealth Management division: Scotiabank launching global wealth management business in November

Fixed income ETFs accounted for a greater share of total ETF sales in the first quarter:Canada’s fixed income ETFs fared well in first quarter

On the pulse – New frontiers in fintech

How banks and fintech firms can work together to create better solutions for customers:Banks and fintech: the next step

Digital transformation must come from the top of the organization: Digital is a leadership challenge and not a project 

Banks must meet customers’ expectations of personalization: Trendwatch: Independent banking brands? Or integrated service bundles?

The KYC process needs to be improved: SWIFT’s Claeys: Decades-old KYC processes need change

The impact of insurtech on the insurance industry: The fintech revolution in insurance

Helping people spend, save and invest: New digital financial advice service – OpenMoney

New financial tool to help retail investors compare and analyze stocks: QARA launches “What Is Fund” (WIF) as beta-service

Algorithmic trading market expected to grow by 11.1% annualized over the next five years:Algo trading market to surpass $18.8 billion in five years 

How to effectively reach millennials through social media: Shifts in millennial social media habits financial marketers can tap 

Fintech firm, SoFi, launches ETFs: SoFi launches gig-focused ETF 

Fidelity to offer bitcoin trading to its institutional clients: Fidelity said to offer bitcoin trading within weeks

High-net-worth topics

High-net-worth investors are optimistic about the global economy: Wealthy investors bullish on global economy, stocks, UBS finds

Examining your portfolio can have a meaningful impact on your life: Living purposefully: The surprising benefits of examining your portfolio

High-net-worth individuals will invest in cryptocurrencies: New global poll reveals high-net-worth individuals are flocking to crypto

Polls & surveys – What financials are saying

CPAs less optimistic about the Canadian economy (CPA Canada): Economic optimism declines among Canadian accountants: survey

Advisor conversations about ESG investing are on the rise (Nuveen): More advisors bringing up ESG investing with clients

Financial wellness programs helping employees’ financial planning (Financial Finesse):Long-term use of financial wellness programs drives retirement success: study

21% of young baby boomers in Canada don’t have any retirement savings (Franklin Templeton): Many young baby boomers have no retirement savings

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