Asset-management business thrives as stocks climb

With the stock markets on an upward trend, money-management firms such as BlackRock and Charles Schwab are seeing booming business. "Clients are looking for more advice from asset managers than ever before," BlackRock CEO Larry Fink said. "Whether it was the financial crisis or just the scale of the asset-management industry, we now have a voice." Wealth-management units within banks are also reporting strong results.

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