Portfolio

Mercer reports more searches for money managers globally.

LAS VEGAS - The federal budget deficit is estimated to skyrocket to $1.6 trillion in 2011, but Andrew H. Friedman of The Washington Update told a standing-room only crowd at the Investment Management Consultants Association's annual conference that there are still opportunities for investors.While the substantial deficit is here to stay, the $2 trillion in stimulus that has flooded the economy has made for huge growth in the stock market, Friedman explained. “We need to be careful what happens when the stimulus stops,” he added.

Many investors are unaware of the options available for their 401(k) left with a previous employer, Fidelity Investments found. Nearly one-third, 30%, who made a job transition are unsure of what to do with their workplace retirement savings.

Managed Portfolio Advisors and Vestmark will provide overlay management.

One-third cites protecting principal as their primary goal.

The Financial Industry Regulatory Authority has fined Kane, McKenna Capital Inc. and Wulff, Hansen & Co. a total of $27,500 for municipal transaction disclosure and trade rule violations.

Nearly 150 hand-picked and already highly successful Bank of America Merrill Lynch financial advisers next month will embark on what amounts to retirement training boot camp at The Retirement Advisor University (TRAU) in pursuit of a Certified 401(k) Professional designation to further their defined-contributions expertise and differentiate themselves from other DC practitioners.

Global investors have tempered their optimism about the U.S. and world economies and plan to put less of their money in commodities and more into cash, a quarterly poll of 1,263 investors, analysts and traders who are Bloomberg subscribers found.

Edward Jones has added UMA Models to its advisory platform for its 12,000 advisers, Edward Jones Advisory Solutions.