Portfolio

Generation X and Y are more likely to look for lower risk alternatives than boomers and older generations.

KPMG has brought on board several new partners and managing directors to bolster the firm’s Alternative Investment Funds practice.

BOK Financial Corp. has acquired The Milestone Group, a Denver registered investment advisor. The acquisition enhances BOK's presence in Denver and brings its assets under management and administration across all its subsidiaries to nearly $50 billion, the company said in a statement. BOK has maintained a presence in Denver through its local bank brand, Colorado State Bank and Trust, a 100-year-old company. The acquisition will strengthen the Colorado bank's wealth management business. .

Trust funds are typically plump with assets to manage. Now, RIAs may be able to keep those asset management fees, after trusts are funded, without having to disrupt back office operations.

The asset-management industry scored a victory when SEC Chairman Mary Schapiro abandoned her quest to impose tougher rules on money-market mutual funds, but some expect the celebration will be brief.

Legg Mason is planning to offer a number of index ETFs as well as actively managed fund of funds ETFs.

Here is the text of the statement by Securities and Exchange Commission Chairman Mary Schapiro on money market mutual fund reform.

Mary Schapiro, Chairman of the U.S. Securities and Exchange Commission, canceled a vote on a proposal to tighten money-market fund rules amid opposition from fellow commissioners and a lobbying campaign by fund companies.

Money Fund Reform Drops Dead

Here is the text of the statement by Securities and Exchange Commission Chairman Mary Schapiro on money market mutual fund reform