Portfolio

Alternative investments should comprise as much as 20%, 30% or even 50% of a client's portfolio, according to an online panel of analysts and portfolio managers hosted by Envestnet.

Fidelity Investments resolved the long-running question over its succession plan by naming Abigail P. Johnson president, putting the daughter of Chairman Edward C. "Ned" Johnson III in charge of the key businesses at the second-largest mutual-fund company in the U.S.

Federated Investors has tapped Craig Bingham to lead the firm’s new Asia Pacific subsidiary and is opening an office in Melbourne, Australia.

North America led the drop in global confidence, falling 8.7 points to 84.4.

Already this year, Independent Financial Partners, which has nearly 500 advisors, has increased its advisor count by more than 50% over the total number of advisors it added in 2011.

With a new head of research on board, Lipper announced a new set of initiatives for the second half of 2012 that involves building out research and analytical tools.

Global exchange-traded fund assets have increased by 13.9% from $1.35 trillion to $1.54 trillion year-to-date, through the end of July 2012.

The tax-exempt market posted a sixth consecutive trading session of gains on Tuesday as demand has outweighed supply in the muni market this week, and prices are following Treasuries higher.

Commissioners Daniel M. Gallagher and Troy A. Paredes say proposed reforms to money funds “were unlikely to be effective.’’

The Dow Jones Industrial Average shed 21.68 points Tuesday to finish at 13,102.99. The S&P 500 fell 1.14 points to end at 1,409.30 and the Nasdaq rose 3.95 points to close at 3,077.14.