Portfolio

Milwaukee, Wisc.-based CliftonLarsonAllen Wealth Advisors has teamed up with Academy Asset Management, a Philadelphia, Pa.-based investment advisor to launch Innovator Management LLC, purveyor of the new Innovator Matrix income Fund.

There were more than 8,500 mutual funds at the end of 2010, according to the 2011 Investment Company Fact Book. They range from long only equity and bond funds to alternative long/short mutual funds.

The IRS has launched a compliance practice research team that will seek to identify red-flags indicating questionable municipal bond transactions.

Allianz will still own about 5% percent of the company, worth approximately $464 million.

For some Dow component stocks, the first three months of the year were forgettable. Here’s an interactive slide show featuring the 5 worst-performing Dow stocks so far this year.

The Dow Jones Industrial Average lost 64.94 points to close at 13,199.55 Tuesday as investors digested the release of minutes from the Fed’s latest policy-setting meeting in March.

Milwaukee, Wisc.-based CliftonLarsonAllen Wealth Advisors has teamed up with Academy Asset Management, a Philadelphia, Pa.-based investment advisor to launch Innovator Management LLC, purveyor of the Innovator Matrix income Fund.

A federal judge has declared that Fidelity Investments and the American unit of ABB, Inc. violated federal laws by making pension holders pay excessive 401(k) plan fees, and has ordered the defendants to pay $36.9 million in damages.

Independent mutual fund service provider Ultimus Fund Solutions, LLC has hired Kirk Littleton as director of business development to help the company double its business within the next seven years.

It looks like iShares isn’t going to be scared off that easily by the BATS Exchanges’s glitch last month.