Portfolio

ConvergEx Group has launched a new division dedicated to the formation, performance and management of alternative mutual funds.

Long-term mutual funds had inflows of $386 million for the week ended Sept. 21, the Investment Company Institute said.

New York Life Retirement Plan Services has reorganized into four industry-focused service teams serving: Taft-Hartley, technology, finance and professional services, and manufacturing, materials and retail. Each of these teams will have its own relationship managers, communications consultants, investment specialists and ERISA consultants.

Positive results from its “Who Knew” advertising campaign have prompted John Hancock Mutual Funds to extend the campaign through the end of the year—with ads on TV, online and in print.

Northern Trust named Marie Dzanis senior vice president and head of ETF sales and servicing where she’ll oversee the firm’s FlexShares exchange-traded funds unit.

Northern Trust has launched a new family of exchange-traded funds called FlexShares. The four funds, which are trading on the New York Stock Exchange, are based on indexes created and maintained by Morningstar and Markit.

The State Street Investor Confidence Index increased slightly, from 88.1 to 89.9 in September, and The Conference Board Consumer Confidence Index, which had declined sharply in August, remained essentially unchanged during the month at a 45.2 reading.

Last week’s deal between The Colony Group and Focus Financial Partners is just the latest in what’s turned out to be a very busy merger and acquisition period for registered independent advisor firms. Here's a look at this year's five-largest deals:

While it’s still unclear as to whether The Colony Group and Focus Financial Partners union announced last week is the largest merger by assets under management completed in the RIA space so far this year, one thing is certain: the deal is sophisticated and accomplishes strategic and financial goals for both firms at the same time.

The State Street Investor Confidence Index increased slightly, from 88.1 to 89.9 in September, and The Conference Board Consumer Confidence Index, which had declined sharply in August, remained essentially unchanged during the month at 45.2 ( 1985 = 100), up a notch from the August's 45.2 reading.