If you didn't know already "The new reigning king of financial memes is@litquidityon Instagram."
Ted Richards on Twitter describes the WeWork IPO timeline flawlessly (See Tweet)
Bitcoin volatility drops to lowest since May 2019, fluctuating mostly between $10,000 and $11,000 as the hype fades $BTC
Number of RIAs hit Record High: The number of SEC-registered investment advisors is at a record high of 12,993, up 3.3% from 2018, with these firms serving more than 43 million clients and overseeing $83.7 trillion in assets.
148 RIA firms managing over $100 billion account for nearly 60% of industry assets. (Read more on Barron's)
In 2016, 22% of portfolios globally were allocated to ETFs. This figure is expected to nearly double to 39% by 2022, according to the latest survey by JP Morgan Asset Management
The average portfolio allocation to ETFs today is 27%, five percentage points higher than what it was three years ago. (Read more on ETF Stream)
The Next Schwab? Altruist – a new digital, commission-free custodian for RIAs – will save advisors up to 90% on technology and custody costs, says founder Jason Wenk. “Our goal is for everyone to really pay almost nothing.” (Read more on RIA Intel)
"Jack Dorsey's Square Is Testing a New Free Stock-Trading Service" (Read more on Bloomberg) Square would be competing against Robinhood that has approximately 4 million users versus Square's 15 million monthly active users.
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