Portfolio

The hedge fund industry has recovered most of the ground it lost during the financial crisis.

Charles Schwab has launched the Schwab U.S. Mid-Cap ETF and Schwab U.S. REIT ETF, bringing Schwab’s total fixed income and equity ETF offerings to a total of 13.

The Palm Beach Gardens, Fla., investment advisory firm bought Weiss Capital Management Inc, an independent registered investment advisory firm.

At $1.917 trillion, the industry is just shy of its peak level, reached in the second quarter of 2008.

Redemptions since Dec. 2 total $15.76 billion.

For all those bears out there it’s time to turn those frowns upside down.

With stocks up for the seventh consecutive week, Bob Doll, BlackRock chief equity strategist, sees no reason to expect a plunge.

On Wednesday The Fidelity Charitable Gift Fund and the Association of Small Foundations announced a new white paper titled “The Best of Both Worlds: Using Private Foundations and Donor-Advised Funds” to inform donors and advisors about how these two giving vehicles complement each other.

BNY Mellon Wealth Management is now offering its private banking clients Cash Management Access Accounts that will allow them to manage banking and self-directed investments in one place.

The Financial Industry Regulatory Authority has censured and fined Merrill Lynch, Pierce, Fenner & Smith Inc. $500,000 for failing to establish and maintain written supervisory procedures to ensure that its representatives considered customers’ state income-tax benefits in their suitability analyses of 529 college saving plans.