Portfolio

The third largest broker-dealer by headcount and the fifth largest by revenue has grown into a powerhouse of a financial services company over the past decade. Its top executive said in an interview Thursday it plans to add at least 400 more this year.

Larry Pitkowsky and Keith Trauner, former portfolio managers at the Fairholme Funds, have formed GoodHaven Capital Management, an investment firm with a go-anywhere mandate. The firm will initially offer separately managed accounts for high-net-worth individuals, institutions and retirement accounts and launch a no-load mutual fund in the second quarter.

Stock markets around the world are on the rise and investor sentiment is, not surprisingly, riding along.

RiverNorth Capital, in partnership with DoubleLine as sub-advisor, has launched the RiverNorth/DoubleLine Strategic Income Fund.

With the two launches, Schwab now has a total of 13 equity and fixed income ETFs.

The hedge fund industry has recovered most of the ground it lost during the financial crisis.

Charles Schwab has launched the Schwab U.S. Mid-Cap ETF and Schwab U.S. REIT ETF, bringing Schwab’s total fixed income and equity ETF offerings to a total of 13.

The Palm Beach Gardens, Fla., investment advisory firm bought Weiss Capital Management Inc, an independent registered investment advisory firm.

At $1.917 trillion, the industry is just shy of its peak level, reached in the second quarter of 2008.

Redemptions since Dec. 2 total $15.76 billion.