As billions pour into AI infrastructure and chip manufacturing, investors are increasingly split on whether this is the next industrial revolution — or the next dot-com. A BofA Global Research survey shows 54% of fund managers believe AI is already in a bubble, while 38% disagree. Yet, most are still buying — signaling that conviction...
At its latest investor day, Bank of America’s wealth division — which includes Merrill Wealth Management and the Private Bank — set an ambitious target of 4–5% net new asset growth in the medium term. “We have the scale and infrastructure to outpace the industry,”said Eric Schimpf, Co-President of Merrill Wealth Management. The business expects...
Australia’s securities regulator has sounded a serious alarm over financial advice on self-managed super funds (SMSFs) — revealing that 27% of reviewed cases could cause “serious harm” to retirement savings. According to the Australian Securities and Investments Commission (ASIC),➡️ 62% of SMSF recommendations failed to meet the legal duty to act in clients’ best interests.➡️...
Wall Street’s bonus season is shaping up to be the best since 2021, driven by surging deal flow, trading volatility, and record valuations, according to Johnson Associates. Equity sales & trading desks are the biggest winners — with bonuses up 15–25%, while M&A and equity underwriting bankers can expect 10–15% jumps. “Markets are at record...
British wealth managers are reporting a surge in pension withdrawals ahead of this month’s UK budget — as savers brace for potential cuts to tax-free lump sums. Currently, Britons can withdraw up to 25% of their pension tax-free.But with Chancellor Rachel Reeves warning of “hard choices” to fix public finances, many fear this benefit may...
After years of caution, global private equity funds are quietly pivoting back to China — drawn by cheap valuations, low debt costs, and shrinking competition. At the Global Financial Leaders’ Summit in Hong Kong, top fund executives signaled a major rebalancing: “Investors, particularly non-U.S. ones, feel overallocated to dollar assets,”said Jean Eric Salata, Chairman of...