Despite the turmoil brought on by the Covid-19 pandemic, family-owned enterprises have managed to stay resilient. The world's largest 500 family businesses generated USD7.28 trillion in revenues, employing 24.1 million people across 45 jurisdictions. These and other findings were published today in the 2021 EY and University of St. Gallen Family Business Index which reveals how the largest family-owned businesses have responded to the recent turbulence in the global economy.

As the historically paper-based wealth management industry undergoes a long-awaited digital transformation, mass affluent customers are now open to a wider range of providers managing their investments.

American Century Investments and Nomura Asset Management have launched the American Century U.S. Focused Innovation Equity UCITS (ISIN: I USD IE0006AEA9Y8), a sub-fund of Nomura Funds Ireland Plc, that is now available to investors in Europe. 

GenXFinancial, a US-based wealth management firm specialising in continuity, succession planning and facilitating growth for NextGen financial professionals, has announced its acquisition of Boston Partners Financial Group.

PIMFA, the trade association for the wealth management and financial advice industry, has welcomed the latest analysis of the regulatory perimeter from the FCA but says the regulator must act sooner to avoid consumer harm.

Premier Capital Advisors, a wealth advisory and investment management firm serving clients throughout Latin America and the Caribbean, has surpassed the threshold in assets under management to be (classified) as a large advisory firm and is now registered with the US Securities and Exchange Commission (SEC).

Fulcrum Asset Management is continuing its push into the US, with Paul Seaton, director, commenting that the less certain investment environment is encouraging interest in their multi-asset offering.
 

The Securities and Exchange Commission (SEC) has instituted settled proceedings against two robo-advisers for making false statements about investment products and publishing misleading advertising.  

The Commodity Futures Trading Commission (CFTC) has filed a civil enforcement action against Dro Kholamian of Barrington, Illinois, and his company, Blue Star Trading, LLC (Blue Star), an Illinois limited liability company with an office in Park Ridge, Illinois.

The SEC has issued and settled charges against professional boxer Floyd Mayweather Jr and music producer Khaled Khaled, known as DJ Khaled, for failing to disclose payments they received for promoting investments in Initial Coin Offerings (ICOs).