Your English writing platform
Discover LudwigExact(60)
It was one of the largest managers of private wealth, with $1.7 trillion in client assets.
Safeguarding client assets is a critical function of investment advisers.
"Where an independent custodian holds client assets, the risk of client assets being misused is limited," said Mary Schapiro, the commission chairwoman.
Bank of America broker-dealer units hold more than $2.2 trillion in client assets.
Investment advisers are expected to protect client assets over which they have custody.
They might receive compensation from the custodians they use to hold client assets.
The firm's client assets under management would increase to $20 billion from $5 billion.
In 2007, the Swiss private bank had total client assets of [about £78bn].
The Smith Barney deal catapulted it to the top spot, with 18,000 brokers and $1.6 trillion in client assets.
It also appears UBS is stemming the flow of client assets from its private bank and wealth management arms.
They emphasise that client assets are held by third-party depositary banks, still perceived as safe by the public.
Write better and faster with AI suggestions while staying true to your unique style.
Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com