Matt Ackermann

The St. Louis brokerage firm added 12 model portfolios to its mutual fund and exchange-traded fund advisory program, Edward Jones Advisory Solution.

Hampered by less activity and investor wariness, Charles Schwab Corp. announced Friday that its trading volume fell in July from a year earlier.

The new product will focus on credit opportunities in emerging markets.

M&I's plan to expand its trust services nationally, plus executive changes at Citi and BNY Mellon, and more moves from the past week.

The Kansas City-based unit of UMB Financial Corp. hired Andrew Iseman as its new CEO.

The Omaha, Neb., based online brokerage company, which is suddenly flush with cash, said that it thinks it is "an attractive" way to use money in the current economic climate.

Red Pine Advisors specializes in the valuation and pricing of illiquid structured product portfolios.

Goldman Sachs Group Inc. reported Monday that it had 10 days of trading losses during the second quarter because of difficult market conditions and the May 6 “flash crash.”

Rieder succeeds Curtis Arledge, who has been CIO since the first quarter. Arledge recently became CEO of BNY Mellon Asset Management.

The company's top executive said that the European credit crisis increased volatility causing investors to sell riskier assets and hurting the performance of the company's equity services.

Armed with capital from its initial public offering this week, Envestnet Inc.’s top executive said the company doesn’t have any dramatic acquisition plans on the horizon. Instead he’d prefer to maintain its slow and steady approach.

Nuveen, a Chicago-based investment manager for institutions and high-net-worth investors, said it will give U.S. Bancorp a 9.5% stake in the company and cash consideration in exchange for the unit, which manages $25 billion of long-term assets and serves as the advisor of the First American Funds.

Despite efforts by most financial services companies to get investors to use more online tools for financial planning, most affluent individuals still prefer to work one-on-one with a trusted advisor.

Bank of America Corp. announced Tuesday it hired Lisa Shalett as chief investment officer of Merrill Lynch Global Wealth Management and head of investment management and guidance.

Despite outflows from its U.S. wealth management unit, UBS AG reported stronger second quarter results Tuesday as outflows from its private bank continued to slow.

Jersey-City based Knight will pay approximately $20 million in cash and stock for Astor when the acquisition is completed in the fourth quarter.

The Baltimore-based money manager reported that its profits increased to $158.5 million, or 59 cents per share, and net revenue rose 30.6% to $577.4 million.

The regulator said the company made negligent misrepresentations related to subprime securitizations.

The Chicago-based company reported a profit of $199.6 million, or 82 cents a share, down 36% from a year earlier. Revenue declined 7% to $973.8 million. The results beat analysts' estimates by eight cents, according to Thomson Reuters.

The company saw assets under management increase 19% from a year earlier to $1.047 trillion, but fell 5.2% from the previous quarter because of stock market declines. Fee revenue rose 1.8% to $2.56 billion.