Industry

Paul Cummings will serve as regional managing director for the Northeast Region, overseeing asset management and other services in New York and Philadelphia.

At Raymond James, costs from the Morgan Keegan integration caused profits to decline in the fourth quarter.

3D Asset Management today officially unveiled Vincent Leon as vice president and National Sales Manager overseeing all sales, marketing, and distribution for its Intermediary and Retirement channels.

Although profits fell firm-wide, Ameriprise Financial’s Advice and Wealth Management segment posted a number of improvements across the board in the third quarter.

Goldman Sachs Group Inc.’s decision to provide some of former employee Greg Smith’s performance reviews to the media may scare staff at the firm about the privacy of their own reviews, Smith said.

For a new RIA to be managing $520 million for some 3,000 investors within six years is noteworthy. When that RIA was founded by an estate planning attorney, there must be a surprising reason.

Value Line Funds has combined the Value Line U.S. Government Money Market Fund (VLCXX) into the Reich & Tang Daily Income Fund – U.S . Government Portfolio, effective October 19.

Brown Advisory, a Baltimore-based independent investment management firm, hired Christopher Bartlett as a partner in its Baltimore office.

Morgan Keegan & Co., the brokerage firm acquired by Raymond James Financial Inc., was ordered by a federal appeals court to pay a group of 18 investors a $9.2 million arbitration award.

Almost one in two consumers (47%) say they keep the majority of their assets with banks, up from 44% in 2011. Self-directed firms and full-service brokers, in contrast, had only 28% and 15% of the market, respectively.