Portfolio

Proposed extensions to major bond provisions have survived several revisions of pending tax legislation, but municipal market participants are wondering if more controversial, non-bond provisions could scuttle the entire package.

See Advisor TV video here: http://www.financial-planning.com/video/morningstar-dolan-advisortv2667536-1.html

Wells Fargo is merging nearly $2.2 billion of Evergreen Investments municipal bond mutual funds into existing Wells funds as part of the bank’s purchase of Wachovia.

Illinois’ debt manager returns tomorrow from an overseas tour where he sought to whet the appetites of European and Asian institutional buyers for his beleaguered state’s paper ahead of a $900 million taxable Build America Bond sale.

SourceMedia's Women Advisors Forum descended on Chicago on June 16. The event offered an opportunity to network with the most successful and influential women financial advisors in the nation, while gaining insight into their career experience and rise to the top.

Bank of New York Mellon Corp. announced Tuesday it launched a unit designed to clear futures and derivatives trades.

CHICAGO — The Securities and Exchange Commission has launched a review of a failed investment by five southeastern Wisconsin school districts in collateralized debt obligations that were intended to establish trusts to pay the districts’ non-pension retiree healthcare benefits.

The Securities and Exchange Commission charged ICP Asset Management LLC and its founder and President, Thomas Priore, with defrauding investors in four multi-billion-dollar collateralized debt obligations that were insured by American International Group.

The Internal Revenue Service is extending some deadlines for sponsors of defined-contribution retirement plans, such as 401(k) plans, that were affected by storms and other severe weather in Alabama, Connecticut, Massachusetts, Mississippi, New Jersey, Rhode Island, Tennessee and West Virginia.

Financial advisers are starting to turn their backs on the idea of going independent and are instead favoring the benefits of working at wire houses, a survey found.