Portfolio

Blackstone Group LP, the biggest manager of alternative assets, posted record fourth-quarter earnings as it sold real estate and private-equity investments at a profit. The shares rose the most in a year.

Pacific Investment Management Co., the world’s largest bond manager, expects speculative-grade bond investors to largely collect the coupons paid by the debt in 2014 after an average 20% gain in the last five years.

U.S. stocks rose from a two-month low while Treasuries and gold fell as data showed rising consumer spending and corporate earnings beat estimates.

President Barack Obama’s new retirement accounts lack the most popular features of 401(k) plans. They offer no matching contributions, no prospect for eye-popping returns and no track record of employer support.

At the group's national conference in Orlando, president Tom Nally announces several new initiatives aimed at helping advisors expand their businesses.

Advisors can no longer expect to hire only seasoned, mid-career professionals with an established book of business, industry experts say.

President Obama's announcement of a new retirement plan for low- to middle-income Americans drew reactions ranging from hopeful praise to scorn from advisors who say many big questions remain to be answered.

President Obama's proposal for encouraging low-income Americans to set money aside in accounts with tax advantages is a limited step that may help bolster retirement savings.

Both regulators have identified rollovers as a priority for their 2014 examinations, putting brokers and advisors on notice that they plan to scrutinize how they are working with clients who are planning for retirement.

As waves of baby boomers head into retirement, state and federal regulators expect to take a hard look at the programs firms have in place to ensure they are selling elderly investors appropriate financial instruments.