Portfolio

The U.S. economy is well on its way to recovery, according to most mutual fund CIOs, and just about all the economic charts show key growth criteria improving, barring an unexpected jolt.

With income limits and filing status restrictions being removed on Roth IRAs as of Jan. 1, Fidelity Investments has created an online Roth IRA conversion calculator available to its independent registered investment advisor clients and broker/dealer clients of National Financial, Fidelity’s correspondent clearing business. Using this calculator, advisers can walk their clients through a series of questions to help them determine whether a Roth IRA might be appropriate.

On Wall Street magazine's annual listing the Top 40 Advisors Under 40

Barclays has launched the iShares S&P India Nifty 50 Index Fund, which tracks the S&P CNX Nifty Index of the 50 largest and most liquid Indian securities listed on the National Stock Exchange of India.

OppenheimerFunds decided to settle a lawsuit filed by the state of Oregon over its 529 plan for $20 million, payable to 45,000 investors in the plan early next year.

Transamerica has introduced a mutual fund platform for workplace retirement plans that offers target maturity choices, 300 funds from 35 companies and has no proprietary fund requirements. Sponsors and advisers also have a choice of pricing.

Three days after saying it would delay the effective date to permit 401(k) plan administrators to offer investment advice, the Department of Labor decided to scrap the rule altogether. The third extension for the effective date would have been May 17, 2010.

R.R. Donnelley has developed a financial services application compatible with iPhones, called Socrates, that investors can use to make purchases. R.R. Donnelley plans to follow up on this with additional smart phone applications.

Rather than being discouraged from saving as a result of the financial crisis, the market's 2008 decline and falling home values, these events have spurred more people into action. Seventy-five percent of 1,002 people surveyed by TDAmeritrade said one of their resolutions for 2010 will include a financial goal. Driving this figure overwhelmingly are minorities, with 56% of Hispanics and African Americans saying money-related issues will be one of their 2010 resolutions, compared with 32% of Whites.

Most financial advisers are preparing to add more financial planning services to their practices as a result of the recent recession, according to a report on practice management by Cerulli Associates.