U.S. economy picks up in Q4 2011Posted by RJ and Makay on Jan 27, 2012 |
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The U.S. economy grew at an annualized rate of 2.8% in the fourth quarter of 2011, short of economists’ forecasts but at a stronger pace than the 1.8% gain in gross domestic product (GDP) in the third quarter of last year, according to the Commerce Department. A Bloomberg survey of 79 economists had made a mean forecast of a 3% rise in Q4 GDP. For all of 2011, the economy expanded at a rate of 1.7%, down from 3% in 2010.
The quantity of merger and acquisition (M&A) deals and the average size of deals are down, but RIAs are still the “dominant buyer,” according to a report released Wednesday by Schwab Advisor Services. In 2011, RIAs were involved in 57 M&A transactions totaling almost $44 billion, and the average size of deals, at $798 million, was the lowest since 2005.
The Financial Services Institute’s (FSI) OneVoice conference recently hosted a panel on the top 10 technology trends that currently impact independent broker-dealers, and the trends that will likely affect them in the future. Spenser Segal, CEO of ActiFi, moderated for panelists Suresh Kumar of Pershing and Ron DePoalo of Fidelity, in a discussion on the impact of technology. Their commentary is included in the following list of trends.
