Two-thirds of investors with at least $100,000 in investable assets, including more than 80 percent of the millennials in that group, approve of the 2018 tax reform package passed by Congress this year, according to Nuveen’s “Guard Their Gains” study. The study of more than 1,000 high-net-worth investors found than 83 percent of millennials approved of the tax plan, compared to 63 percent of Generation X, 61 percent of young baby boomers (aged 53 to 63) and 50 percent of baby boomers aged 64 to 71. Those with assets between $500,000 and $999,999 also were the most optimistic (69 percent) about the plan’s impact on their personal situations.
Benjamin F. Edwards & Co. recently hired eight advisors who in aggregate manage some $600 million in client assets. The advisors, who are from Stifel, Wells Fargo Advisors, LPL Financial and SunTrust Bank, will work out of a handful of the firm’s 67 offices across the country. Earlier this year, the firm opened an office in Reno, Nev. with a group managing $220 million. Headquartered in St. Louis, Benjamin F. Edwards & Co. is a full-service brokerage and registered investment advisor founded 10 years ago. It employs more than 500 advisors and has a total of almost $24 billion in assets under management.
Your next bike ride may be thanks to Fidelity. The financial services company is shouldering into the “micro-mobility” scene with its participation in a $335 million funding round for bike- and e-scooter-sharing startup Lime. The fundraising round was led by GV, formerly Google Ventures, alongside tech companies like Uber, Alphabet and Atomico. Lime’s partnership with Uber could mean scooters may soon be available in their app. “It’s a story about movement,” said Lime Co-founders Toby Sun and Brad Bao in a statement. “From a culture of consumerism and environmental degradation to one of conservation and social responsibility.” Lime entered the personal transportation market just last year and is valued at $1.1 billion, having raised $467 million already, according to Bloomberg. Fidelity Management and Research Company also has a stake in ride-share service Lyft.