Industry

Sidney J. Weinberg Jr., a senior director at Goldman Sachs and a member of the family central to the firm, died Monday of prostate cancer at age 87 in his home in Marion, Mass.

Registered investment advisors’ assets took an $8 trillion hit in 2009, but they’re rebounding this year with $4.6 trillion in gains.

The advisory services practice was established to help Northern Trust’s advisors understand the financial goals of clients in order to offer them specific wealth management services. The practice offers real estate, financial planning, family governance and education, philanthropy, family business, tax planning and wealth transfer.

In a move that “further enhances the fixed-income capabilities of the firm,” Highmark Capital Management has hired Jeffrey Klein as VP and portfolio manager for its Fixed Income Group, the Union Bank subsidiary said Tuesday.

Rydex/SGI annual benchmarking study finds majority of those surveyed are using alternatives in client portfolios.

Basic business practices such as client segmentation separate the winners from the losers among registered investment advisors.

Schwab study finds that strategy is key in effective deployment of tech services

Raymond Tate, formerly a Bank of America Merrill Lynch complex manager in Phoenix joined Wells Fargo Advisors Sept. 7 as a branch manager of its Oakland, Calif., office, according to recruitment firm Willis Consulting in Palo Verdes Estates, Calif.

Advantus Capital Management has names Randal Harrison vice president and director of the insurance advisory practice, which manages assets for insurance companies. He succeeds Marilyn Forelich, who has been in this position since 1998 and who is retiring. Harrison comes to Advantus from RBC Global Asset Management, where he was a managing director and senior fixed income portfolio management.

The two-man team has $225 million in assets under management.