Luxury brands were riding the subway instead of lounging in limos this year, though a couple of brands were able to buck the trend.
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Hermès reported financial results on Thursday that showed the scarf and handbag maker is doing pretty well.
The massive private-equity investments are causing concerns about its impact on the wealth management industry.
New filings with the Securities and Exchange Commission are requesting permission to launch ETFs that hold both public and private assets.
High-profile lawsuits and SEC investigations over cash sweeps have taken the industry by storm.