Portfolio

Southern California-based Beacon Pointe Wealth Advisors has another notch on its belt.

The 50 largest asset managers accounted for more than US$38 trillion in assets under management at the end of 2012. This is a full US$4 trillion more than the year before, even as the biggest firms in the industry continue to enlarge, according to The Cerulli Report: Global Markets 2013.

From improving communication with clients to placing a bigger emphasis on risk management, advisors share how they’re navigating the rebounding market environment and how their practices have evolved as a result of hard lessons learned during the financial meltdown of 2008.

A week after adding four advisors with $533 million in assets, the firm said it added another round of brokers with a combined $508 million.

(Bloomberg) -- Bank of America Corp. will pay $39 million to settle a discrimination lawsuit brought on behalf of women employees at its Merrill Lynch unit, according to court filings.

The expansion-focused $6 billion wealth manager has added Santa Barbara-based Pacific Pointe to its roster, making it the fifth firm in Beacon Pointe’s growing stable, and the fourth in California.

The worst rout in the $3.7 trillion municipal-bond market in more than two years is proving a gift for wealthy investors buying through brokers and professional asset managers who see a chance to make long-term money.

From improving communication with clients to placing a bigger emphasis on risk management, advisors from wirehouse and regional firms share how they’re navigating the rebounding market environment and how their practices have evolved as a result of hard lessons learned during the financial meltdown of 2008.

With heavyweights like Pacific Investment Management Company (PIMCO) throwing its hat into the managed futures mutual fund ring, interest from both investors and asset management in this investment vehicle appears to be rising.

Bank of America Corp. will pay $39 million to settle a discrimination lawsuit brought on behalf of women employees at its Merrill Lynch unit, according to court filings.