Portfolio

Aided by a surge in assets under management, State Street Corp. reported strong growth in profits in the fourth quarter, but executives remained conservative for 2011.

The mutual fund industry is taking issue with a House bill that would permit the Federal Reserve to step in to regulate large funds that pose “a grave threat to the financial stability or economy of the U.S.”

American consumer confidence rose sharply earlier this month to the highest level it has been at since September 2008, according to the RBC Consumer Attitudes and Spending by Household Index. In fact, the index was boosted by the largest single month gain in job expectations since the index was created eight years ago.

American consumer confidence rose sharply earlier this month to the highest level it has been at since September 2008, according to the RBC Consumer Attitudes and Spending by Household Index. In fact, the index was boosted by the largest single month gain in job expectations since the index was created eight years ago.

Given the opportunity to approach their retirement savings again, 51% of affluent Americans who have retired said they would have preferred to have focused on life goals rather than a retirement number, Merrill Lynch found in a survey. However, the remaining 49% still believe in zeroing in on the numbers.

DST Systems and Blue Frog Solutions have partnered on an annuity order management compliance solution for independent intermediaries, through DST Vision.

Last year was a record year for breakaway brokers and this year could be even stronger, according to an executive at Fidelity Investments.

New York Life Insurance has committed $100,000 in donations to the American Red Cross Disaster Relief Fund for Haiti and has pledged $150,000 in matching contributions to this and other charities serving Haiti made by both employees and agents, for a potential total donation of $400,000.

BrightScope is offering a Personal 401(k) Fee Report that will permit investors to sign up for free to see fees on 30,000 plans, how they compare to fees on comparable funds and how much money they would gain or give up over the remaining course of their working years.

After investing conservatively for the past four years, investors are beginning to put their cash reserves to work in equity investments, according to the Bank of America Merrill Lynch survey of fund managers in January.