The Presidential Daily Brief

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  1. An illustration of people taking money from one another.

    Millennials Ditching Family Money Managers

    They’re trying to fix what was brokeraged. Younger generations are set to inherit about $36 trillion from their parents over the next five decades — but changing mores about investments might mean that the brokerages and money managers sustained by that old-money business are in trouble. As young folks scarred by watching the boom-and-bust maelstroms of 2001 and 2008 opt for more passive, risk-averse money management, active investors may find themselves trading on talents no longer valued in the industry.

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