Portfolio

What's State Street Global Advisor's next big destination for expanding its retirement business? 

In an effort to expand its “investment abilities in international equity markets”, Fred Alger Management has hired a team of experts from Allianz Global Investors, the New York-based firm announced Tuesday.

Forbes has compiled its list of the world's billionaires http://www.forbes.com/billionaires/ and a few mutual fund executives have made the cut.

Call it a generation-skipping succession plan. When 62-year old industry veteran John LaPann decided it was time to hand over the reins of Federal Street Advisors, observers may have expected his successor would emerge from the ranks of firm veterans now in their 50s, but instead the firm chose some younger leaders.

Last month, exchange-traded funds and exchange-traded products globally had net inflows of $11.4 billion, according to ETFGI.

CIC Wealth Management, a Maryland-based RIA, plans to grow by targeting single and divorced women as clients.This demographic currently represent about 35% of the $300 million firm's client base, but could its plans to increase that percentage significantly be thwarted by the fact it only has one female advisor?

For the week ended Feb. 27, investors pulled an estimated $1.13 billion from U.S. stock mutual funds, giving the funds their first weekly outflow this year.

At the end of 2012, investors had a combined average balance of $225,600 in their workplace retirement plans and IRA accounts.

Low-volatility stocks are in demand, as evidenced by the popularity of low-volatility ETFs and the ongoing expansion of available choices.

The Internal Revenue Service said Tuesday that its Modernized e-File Production system is taking longer to generate federal acknowledgments for tax return filings.