Portfolio

Bloomberg — Herbert Allison Jr., the onetime president of Merrill Lynch & Co. who oversaw the U.S. government’s bank-bailout program following the financial crisis that led to his former company becoming a unit of Bank of America Corp., has died. He was 69.

The current market bodes well for certain sectors of stocks that have historically outperformed in rising rate environments, says a new Lord Abbett study.

Participants in the 2013 CFO Outlook Mid-Year Update gave the U.S. economy an average score of 58 out of 100. This figure was up f rom 49 in the last survey conducted late last year. The global economy received a score of 51, up from 45.

Your clients need help understanding and gaining insight into what makes it so hard to set financial limits with their children before they can curtail or slow down this behavior. Questions aimed at the underlying motivations are much more effective than showing them scary charts and graphs.

Independent broker-dealer Securities America is pressing ahead with its aggressive recruitment campaign, hiring three regional directors to help attract prospective independent advisors, the firm announced Tuesday.

Robert Khuzami, the former head of enforcement at the U.S. Securities and Exchange Commission, is joining Kirkland & Ellis LLP.

Earlier this month, Nuveen Asset Management revealed that its Chief Equity Strategist and Senior Portfolio Manager Bob Doll will be taking on a new slate of equity funds including traditional, specialty and alternative funds.

Beefing up its presence in Sacramento and Newport Beach, Calif. Beverly Hills Wealth Management has lured the Sullivan Wealth Management Group from Morgan Stanley.

Over the past two decades, investors have paid less and less to own shares of mutual funds. That's because investors demand low-cost funds, and because the fund industry is one characterized by competition, innovation, and economies of scale.

Bank of America Merrill Lynch launched Monday an analytics dashboard aimed at helping treasurers handle their cash.