Portfolio

The Los Angeles-based RIA has hired new managing directors for client and business development.

The last century ended with a dot-com boom, followed by a real estate boom with each ending in a bust. Could bonds face a similar fate?

In a nod to the competitive pricing pressure roiling the financial services industry, Advisor Group, one of the largest independent broker-dealer networks in the nation, has eliminated, or drastically reduced, the mutual fund fees it was charging to clients of its financial advisors.

After more than a year of battling it out in Washington, D.C., and around the country, SEC Chairman Mary Schapiro called off her proposed second round of reform for money market mutual funds.

As investing in alternatives such as real estate, private equity funds, hedge fund strategies and commodities grow in popularity, the way these are being used by institutions and investment advisors is changing.

Multi-manager shop Virtus Investment Partners has added Rampart Investment Management, which specializes in customized options strategies for institutional and high-net-worth clients, as a wholly owned affiliate of Virtus.

The Dow Jones Industrial Average fell 54.90 points Tuesday to close at 13,035.94. Meanwhile, the S&P 500 shed 1.64 points to end at 1,404.94 and the Nasdaq added 8.10 points to finish at 3,075.06.

The Coral Gables, Fla., based wealth manager continued it expansion by adding an advisors with 20 years of experience in investments and relationship management in the United States and Latin America.

The Hartford today is taking another step towards focusing on its mutual fund business by agreeing to sell its retirement plans business to rival Massachusetts Mutual Life Insurance Company (MassMutual) for a cash ceding commission of $400 million.

Eaton Vance Management has launched four new Eaton Vance-sponsored mutual funds sub-advised by Hexavest Inc., a Montreal-based investment manager in which Eaton Vance recently acquired a 49% ownership interest.