Monday morning briefing – October 21, 2019

Digital-only banks succeeding through a robust customer experience. ESG adoption by institutional investors may be slowing. Venture capital mega-deals continue to grow. And much more in this week’s briefing.

Economic/industry news

Canada’s inflation rate was 1.9% in September: Canadian inflation holds steady at 1.9%, core measures inch up

China’s economic growth slowed in the third quarter: China says its economy grew 6% in the third quarter, slower than expected

Retail sales in the U.S. declined: U.S. retail sales dip 0.3% in September

The end of the 60/40 portfolio?: Bank of America says 60-40 portfolios are dead. They’re right

Show a bit of pessimism towards a trade deal: Morgan Stanley tells stock bulls not to kid themselves on trade

The IMF predicts weaker economic growth in 2019: Global conflicts could lead to weakest growth since 2008: IMF

News and notes (U.S.)

The Eurekahedge Hedge Fund Index declined 0.30% in September: Hedge funds down 0.30 per cent in September

A look at hedge funds’ favourite research firms: The research hedge funds want to pay for

Why private markets will continue to flourish: The company of the future is private

How debt financing companies are attracting businesses: How debt financing is adapting to compete with equity financing

VC mega-deals continue to grow: 2019 on pace for another $100B invested as VC exit value tops $200B for the first time [datagraphic]

A look at how much the U.S. green economy is worth: America’s ‘green economy’ is now worth $1.3 trillion

Mutual fund sales and performance over the past two weeks: Mutual funds scorecard: October 15 edition

News and notes (Canada)

Waypoint launches liquid alternatives fund: Liquid alternatives: The Waypoint All Weather Liquid Alternative Mutual Fund

Desjardins launches ETF portfolios: Desjardins adds ETF portfolios to its roster

National Bank launches the NBI Unconstrained Fixed Income ETF: National Bank launches fixed-income ETF

Canaccord Genuity expands into Australia: Canaccord Genuity to acquire Australian firm for $23.3 million

Canadian M&A activity down in the third quarter: Mergers and acquisitions slow in third quarter: report

Michael Lee-Chin discusses the challenges impacting advisors: Adapt or become irrelevant, Lee-Chin warns advisors

On the pulse – New frontiers in fintech

Using technology to focus on consumer engagement: Digitizing banking is all about engagement and CX, not ‘tech’

Digital-only banks succeeding through a robust customer experience: Look to your customers for the key to banking success

Searching for innovative new technology: Where do incumbents look for game-changing innovation?

Canadians’ use of fintech on the rise: More Canadians using fintech, in spite of privacy concerns

The majority of U.K. financial institutions are using machine learning technology: Machine learning advancing in financial sector – Bank of England

Emerging challenger banks can be found all around the globe: Some challengers really are challenging … but not where you’re looking

Appealing to wealthier millennials: How upscale millennials’ money views impact their banking habits

How to keep up with regulatory change: How to approach modern regulatory change management in financial services

NatWest piloting a fingerprint credit card: Technology-based banking products launched

A look at what technologies are impacting advisors most: 10 female leaders share top tech trends that’ll change your practice

High-net-worth topics

Millennials’ wealth is expected to grow: There are more than 600,000 millennial millionaires in the US, according to report

What a wealth tax could mean for the high-net-worth: Explaining a wealth tax to clients

Polls & surveys – What financials are saying

Preparing portfolios for an economic slowdown (Aviva): Proceed with caution on asset allocation: report

ESG adoption by institutional investors may be slowing (RBC): Survey finds ESG adoption tapering off among institutional investors

There may not be a global recession until 2021 (HSBC): Global recession unlikely until 2021: HSBC

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