Portfolio

Service providers are always looking for ways to serve RIAs, including managing client assets, even if it means buying other firms to gain the expertise.

Web Exclusive: The woman who runs the nation's largest RIA firm, Maria Elena Lagomasino, doesn't have much faith in the non-fiduciary side of her industry. In fact, she says an unfortunate number of planners at large banks and brokerage houses run their businesses to benefit themselves as much – or more than – their clients.

Amidst the worried debate over whether the United States will tumble into recession this year, market watchers agree on one thing: volatility is here to stay and advisors and their clients will have to be on their toes.

Amidst the worried debate over whether the United States will tumble into recession this year, market watchers agree on one thing: volatility is here to stay.

William Polk Carey, founder of investment management firm W.P. Carey & Co., died on Jan. 2 at age 81, the company announced.

Putnam Investments is laying off 78 employees, or 4.4% of its workforce. The layoffs, primarily in operations, follow a 3% decline in assets under management, from $121 billion in 2010, to $117 billion in 2011.

Direct Edge said it received approval to launch a market maker program for its two national exchanges.

The SEC accelerated approval of rule changes to allow the Chicago Board Options Exchange to acquire the National Stock Exchange at the end of December.

Stocks closed mixed ahead of Friday’s much-anticipated December non-farm payrolls report as the Dow trimmed 2.72 points to finish at 12,415.70 while the Nasdaq and S&P 500 mustered small gains.

Fresh messages about the value of annuities have started to flow from a variety of sources.