Wall Street may step up to address environmental threats, even as President Trump's administration backs away. Fidelity Investments is the latest asset management firm to say it "may support shareholder proxy proposals requiring companies to better disclose sustainability, renewable energy and environmental impact factors," according to its proxy voting guidelines, as stated in Reuters. Fidelity joins BlackRock and State Street Corp. to say they may start throwing their shareholder weight around corporate boardrooms to demand companies account for how climate change could affect their business, according to Reuters. A Fidelity spokesperson says the move is driven by increasing client interest around issues of sustainability.
The American College of Financial Services is taking its educational programs overseas through a partnership with GAMA International, a nonprofit dedicated to promoting professional development needs and leadership skills for the financial services industry. The organizations are developing two credentials for international markets that will take each about a year to complete: a three-course skills training designation for agents and advisors and a three-course management designation for leaders. GAMA will also be the primary international outlet for the Retirement Income Certified Professional designation program, the new Wealth Management Certified Professional program and the Master of Science in Management degree program.
U.S. Bank is implementing a digital advice platform, Future Advisor, as part of its efforts to ramp up its wealth management division, Bank Investment Consultant reports. U.S. Bank CEO Any Cecere told analysts at the Deutsche Bank Global Financial Services Conference that the firm is seeking greater penetration among the emerging affluent — those with $200,000 to $3 million in assets. In addition to the digital platform, U.S. Bank is also reorganizing its brokerage "to be partnered with the bank," teaming financial advisors and their assistants with private bankers. U.S. Bank's wealth management business generated $193 million in the first quarter of 2017, up 6 percent year over year, according to an earnings release.