State Street Eyes 5,000-Advisor Growth, Launches 18bps Prime Money Market ETF
State Street partnered with Mariner to integrate Charles River’s Wealth Platform and support growth to 5,000 advisors, enhancing efficiency across its brokerage network. It also launched the State Street Prime Money Market ETF (MMK), its lowest-cost active prime ETF at 18 bps backed by a $599.6 billion cash team.
1. Partnership with Mariner to Scale Advisor Services
State Street entered a strategic partnership with Mariner to deploy Charles River’s Wealth Platform across its service lines, targeting the expansion to 5,000 advisors. The platform will centralize portfolio management, trading, and compliance workflows to enhance scalability and operational efficiency in its brokerage and wealth management channels.
2. Launch of Active Prime Money Market ETF
State Street Investment Management introduced the State Street Prime Money Market ETF (MMK), an actively managed fund priced at 18 bps. The ETF seeks to maximize current income and preserve capital by investing in high-quality short-term debt, leveraging a cash team that manages $599.55 billion as of December 31, 2025.