Portfolio

Mass affluent clients represent the sweet spot for every wealth management firm's business. So what's on their minds right now?

Schwab Advisor Services says fewer RIA mergers and acquisitions took place in the first half of 2012 compared to the same period last year, but the average assets under management acquired in those transactions jumped dramatically.

Evercore Partners Inc., the advisory firm founded by former U.S. Deputy Treasury Secretary Roger Altman, said second-quarter profit rose 19% as investment-banking revenue climbed.

Scottsdale, AZ-based Longboard Asset Management has launched the Longboard Managed Futures Strategy Fund (WAVIX), a trend following offering.

The $99 million inflow reported by the Investment Company Institute for the week ended July 18 does not erase the $11.8 billion pulled out of such funds in the prior six weeks.

The municipal bond market continues to strengthen as positive supply and demand factors this week push tax-exempts higher.

United Technologies Companylast month took the plunge into providing its employees a steady stream of retirement income.

The Dow Jones Industrial Average moved up 58.73 points Wednesday to close at 12,676.05 while the Nasdaq and S&P 500 lost 8.75 points and 0.42 points, respectively.

It was only $99 million, in the week ended July 18, 2012.

Attention fund builders: There’s still time to shine a light on the smartest and most effective mutual fund executives, back office innovators and marketing gurus you know.