Portfolio

Three months after stepping down as the chief executive of Royal Bank of Canada's U.S. operations, Scott Custer is gearing up to build a new bank spanning the Carolinas and Virginia.

Bank of America Corp. expects “significant” growth in 401(k) assets this year, but analysts are skeptical about where and how the banking company can expect to generate new business.

Total assets in the U.S. exchange-traded funds fell 5.8%, or $45 billion in January from a month earlier, according to monthly data from State Street Corp.

Affiliated Managers Group has reached an agreement with Russell Investments to acquire Russell subsidiary Pantheon Ventures for $775 million, with the potential for additional payments over the next five years, contingent on Pantheon’s growth.

The financial crisis has made a permanent impression on American consumers, who are likely to save 6% or more of their income over the next decade, translating to as much as $800 billion stashed away each year, according to a new study by Allianz Group.

Mutual fund investors in a class-action lawsuit against five mutual fund companies that permitted market timing said they will appeal their case, in which they seek $500 million to $600 million additional compensation above the $205 million restitution they got in settlements with the Ontario Securities Commission.

ETF Securities has registered another precious metals exchange-traded fund with the Securities and Exchange Commission, the ETFS Precious Metals Basket Trust.

Total assets in the U.S. ETF industry fell 5.8% in January from a month earlier.

Fee-based financial advisers are grappling with the fallout from the crash of 2008 and see tactical asset management as the way to navigate the current market, according to a survey of 750 advisers by Jefferson National.

RidgeWorth Investments has launched planadvisortools.com, a website dedicated to the needs of retirement plan advisers.