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Fidelity Investments announced that it plans to lay off about 250 employees as part of a restructuring of some of its units.
February 5 -
Scotia Securities Inc. said today it will expand the lineup of its Scotia Funds with the introduction of a new class of funds to be called the ScotiaFunds Advisor Class.
February 5 -
Money market mutual funds that put cash into investments tied to the mortgage crisis and subprime debt saw huge gains last year, growing by more than 30% to $3 trillion, according to the South Florida Sun-Sentinel.
February 5 -
The number of brokers and financial advisors considering switching to another firm is expected to nearly double in 2008, up to 9% from 5% in 2007, according to a study released Monday.
February 5 -
Weekly reporting municipal bond mutual funds had a net inflow of $468 million during the period ending Jan. 30, AMG Data Services reported. The results were down slightly from a $513 million inflow the previous week, but represent the fourth week of inflows following eight straight weeks of outflows, according to the Arcata, Calif.-based fund tracker. The category represents about 73% of all muni bond funds because it excludes those that report monthly.
February 5 -
WASHINGTON-Democratic leaders of the House Financial Services Committee are exploring creating a federal regulator or modifying a multi-state compact to increase oversight and provide more uniform standards for insurers of municipal bonds and other financial products.
February 4 -
In lockstep with a broadened direction by insurance firms to strip off the complex bells-and-whistles riders and bonuses of the recent past and to issue packaged retirement income solutions-and meet the demands of the new buzzword: decumulation-the other publication I edit, Annuity Market News just relaunched on Friday as Retirement Income Reporter.
February 4 -
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The Baby Boomer generation is once again taking credit for saving the economy, according to Reuters.
February 4 -
MIAMI-Unified managed accounts (UMAs) continue to grow at the expense of legacy separately managed accounts (SMAs), according to a presentation at the National Investment Company Service Association's "7th Annual Managed Accounts Technology and Operations Conference" here last week, at the Doral Golf Resort and Spa.
February 4