Portfolio

Mirae Asset Global Investments (USA) has added three hires to its sales and distribution team.

Stories about advisors cheating their clients are far from rare, and therefore, advisors must do a better job at educating and appeasing concerns, says Daniel Bernstein, director of research and development of MarketCounsel, a so-called advisor for advisors.

Asset managers will be wise to adopt social media into their repertoire if they haven’t done so already, according to a new survey from American Century Investments.

Global exchange-traded funds and exchange-traded products continued their asset gathering in Q1, led by equity products, with record global net inflows of $73.4 billion, according to ETFGI’s Global ETF and ETP industry insights report for Q1.

Focusing on a client niche can boost a planning practice. Among high-performing firms with a target client profile, just 3% pursue opportunities outside of that profile (versus 11% for all other firms surveyed), according to the 2012 Fidelity RIA Benchmarking Study.

Ultimus Fund Solutions has added David Carson to its senior management team as Director of Client Strategies to manage the series trust product line

Rafferty Asset Management, advisor to Direxion Funds and Direxion Shares, has hired a chief operating officer and president.

Asset managers are constantly looking for new ways to gather assets for their firms.

Total money market mutual fund assets increased by $2.61 billion to $2.631 trillion for the week ended Wednesday, April 3, according to the Investment Company Institute.

The $8.7 billion Vanguard Capital Opportunity Fund (VHCOX) is now open to individual investors for the first time since 2004 and its $25,000 annual contribution limit for individual investors has been removed.