Group 1 - Bernstein Private Wealth Management received the "Wealthies" award for its effective service to the complex needs of the world's wealthiest families and family offices [1]

Group 1 - AllianceBernstein Holding L.P. is an investment management firm that provides portfolio management across various asset classes including equities, fixed income, commodities, currencies, and real estate-related assets [1] - The company reported a rise in assets under management to $844 billion in August 2025, up from $830 billion in July, driven by market gains and overall net inflows, with contributions from Institutions and Private Wealth partly offset by Retail outflows [2] - The average analyst price target for AllianceBernstein is $41, representing an upside of approximately 8.1% as of September 15, with coverage from 8 analysts, including 2 Buy-equivalent and 6 Hold-equivalent ratings [2]

Group 1 - Investors in AllianceBernstein Holdings L.P. (AB) should monitor the stock closely due to significant movements in the options market, particularly the Oct 17, 2025 $20.00 Call which has high implied volatility [1] - Implied volatility indicates the market's expectation of future price movement, suggesting that investors anticipate a significant change in the stock's price, potentially due to an upcoming event [2] - AllianceBernstein currently holds a Zacks Rank 3 (Hold) in the Financial - Investment Management industry, which is in the top 42% of the Zacks Industry Rank, with no changes in analyst estimates for the current quarter, resulting in a slight increase in the Zacks Consensus Estimate from 83 cents to 84 cents per share [3] Group 2 - The high implied volatility for AllianceBernstein may indicate a developing trading opportunity, as options traders often seek to sell premium on options with high implied volatility to capture decay, hoping the stock does not move as much as expected by expiration [4]

Core Insights - AllianceBernstein has launched the AB International Growth ETF ("IGGY"), an actively managed ETF aimed at providing international exposure to investors [1][2][3] - The investment objective of IGGY is to seek long-term capital growth, focusing on quality, profitable growth among non-U.S. companies [2][3] - The investment team, led by Thorsten Winkelmann, has over 50 years of combined experience in the industry [2] Company Overview - AllianceBernstein is a leading global investment management firm with $844 billion in assets under management as of August 2025 [4] - The firm offers diversified investment services to institutional investors, individuals, and private wealth clients across major world markets [4] ETF Details - IGGY is positioned as a strong addition to AllianceBernstein's active ETF lineup, leveraging the firm's global platform [2] - The Lead Market Maker for IGGY is Jane Street, a global trading firm [1]

Group 1 - The article discusses the author's journey into investing, starting in high school in 2011, focusing on REITs, preferred stocks, and high-yield bonds, indicating a long-standing interest in markets and the economy [1] - The author has recently adopted a strategy that combines long stock positions with covered calls and cash secured puts, emphasizing a fundamental long-term investment approach [1] - The author primarily covers REITs and financials on Seeking Alpha, with occasional articles on ETFs and other stocks influenced by macro trade ideas [1]

Core Insights - The Chinese economy is maintaining a stable and progressive development trend due to proactive fiscal policies and coordinated macroeconomic measures [1] - China possesses multiple advantages and is capable of addressing various risks and challenges to achieve sustained and healthy development [1] - International investors are encouraged to actively participate in the Chinese market to share in development opportunities [1] Economic Outlook - The meeting involved discussions on macroeconomic conditions and policies, as well as China-U.S. trade relations [1] - The Chinese government expresses a willingness to strengthen dialogue and consultation with the U.S. on a basis of equality and mutual respect [1] International Investor Sentiment - Representatives from international investment institutions remain optimistic about the prospects and market potential of the Chinese economy [1] - These institutions are eager to leverage their financial services expertise and global networks to capitalize on high-quality development opportunities in China [1]

Core Insights - Bernstein Private Wealth Management has appointed Stephen Lewis as Senior National Director and Co-Head of the Houston office, and Adam Geist as Managing Director and Co-Head of the Houston office, reflecting the firm's commitment to leadership in a key market [1][2][4] Leadership Appointments - Stephen Lewis has 24 years of financial services experience and was one of the original founders of the Houston office in 2002. He will focus on client experience initiatives and partner with Geist on various strategic initiatives [2][3] - Adam Geist brings over 20 years of experience and will lead the team of wealth advisors serving high-net-worth clients, focusing on business strategy and growth in Houston. He joined Bernstein in 2021 and has held roles at several leading financial firms [3][4] Market Position and Strategy - Houston is recognized as a leading market for wealth and innovation, and Bernstein aims to enhance its position through innovative leadership and a commitment to client service [2][4] - Bernstein has $144 billion in assets under management as of June 30, 2025, and is part of AllianceBernstein, which manages over $829 billion globally [4][5]

Core Insights - AllianceBernstein L.P. and AllianceBernstein Holding L.P. reported a preliminary increase in assets under management (AUM) to $844 billion in August 2025, up from $830 billion at the end of July, representing a 2% increase driven by firmwide net inflows and market appreciation [1] Summary by Category Assets Under Management - AUM increased to $844 billion in August 2025 from $830 billion in July 2025, reflecting a 2% growth [1] - Net inflows from Institutions and Private Wealth were partially offset by Retail net outflows [1] Breakdown of AUM - Total Equity AUM reached $351 billion, up from $348 billion in July 2025 - Actively Managed Equity: $276 billion (up from $274 billion) - Passive Equity: $75 billion (up from $74 billion) [1] - Total Fixed Income AUM increased to $307 billion from $299 billion - Taxable Fixed Income: $214 billion (up from $208 billion) - Tax-Exempt Fixed Income: $83 billion (up from $81 billion) [1] - Alternatives/Multi-Asset Solutions AUM rose to $186 billion from $183 billion [1] Ownership Structure - As of June 30, 2025, AllianceBernstein Holding owned approximately 37.5% of AllianceBernstein, while Equitable Holdings, Inc. held an approximate 68.6% economic interest in AllianceBernstein [5]

Core Insights - Bernstein Private Wealth Management has appointed Gregory Kadet and Cecily Bolding as Managing Directors to enhance its growth strategy in the Rocky Mountains and Dallas, TX markets [1][2][3] - The firm aims to attract experienced wealth advisors and expand its ultrahigh-net-worth client base through both organic and inorganic growth strategies [2][3] Leadership Appointments - Gregory Kadet brings over 30 years of wealth management experience, previously managing over $50 billion in assets at UBS and leading a team of 350 employees [2][3] - Cecily Bolding has two decades of experience in wealth management, previously serving as Managing Director at Northern Trust and focusing on multi-generational wealth strategies [3] Growth Strategy - Bernstein's inorganic growth plans include recruiting experienced wealth advisors and selectively acquiring registered investment advisors (RIAs) [3] - The firm has expanded its ultrahigh-net-worth platform and celebrated the one-year anniversary of its new office in Hudson Yards, New York City, which opened in September 2024 [3] Company Overview - Bernstein Private Wealth Management specializes in advising ultrahigh- and high-net-worth clients, utilizing a holistic approach to navigate the complexities of significant wealth [4] - As of June 30, 2025, Bernstein manages $144 billion in assets, while its parent company, AllianceBernstein, manages over $829 billion globally [4]

Core Viewpoint - Investors in the Financial - Investment Management sector should consider AllianceBernstein (AB) and BlackRock (BLK) for potential value opportunities, with AB currently presenting a stronger case for investment [1]. Group 1: Zacks Rank and Earnings Outlook - AllianceBernstein has a Zacks Rank of 1 (Strong Buy), indicating a positive earnings estimate revision trend, while BlackRock holds a Zacks Rank of 3 (Hold), suggesting a less favorable outlook [3]. - The Zacks Rank system is designed to identify stocks with improving earnings outlooks, which is currently favorable for AB [2][3]. Group 2: Valuation Metrics - AB has a forward P/E ratio of 11.96, significantly lower than BLK's forward P/E of 23.77, indicating that AB may be undervalued relative to BLK [5]. - The PEG ratio for AB is 1.50, while BLK's PEG ratio is 2.16, further suggesting that AB offers better value considering expected earnings growth [5]. - AB's P/B ratio stands at 2.22 compared to BLK's 3.55, reinforcing the notion that AB is more attractively priced based on its book value [6]. - These metrics contribute to AB's Value grade of B, while BLK has a Value grade of F, indicating a significant difference in perceived value between the two companies [6].