Industry

New York Life Insurance Co. agreed to buy asset manager IndexIQ, pushing into exchange-traded funds and adding offerings for retail investors who want to copy hedge fund approaches.

Northwestern Mutual completed its $2.7 billion sale of asset manager Russell Investments to the London Stock Exchange Group, the Milwaukee, Wis. firm announced.

A FINRA arbitration panel found Morgan Stanley liable for "causing humiliation" when terminating an advisor's employment at the wirehouse.

When Debra Wetherby started her investment advisory firm in 1990, she was 32, just married and had less than $50,000 of capital.

Wealth management profit increased 41% to C$285 million from a year ago as fee-based client assets rose, while insurance more than doubled to C$256 million.

The industry regulator closes the comment period for its controversial data-reporting initiative as brokerage trade groups warn of privacy concerns and compliance costs.

Merrill Lynch lost a group of advisors managing $535 million in assets to Raymond James & Associates.

2 advisor teams, Foran Financial Group and Sweatt & Walters, leave for Raymond James Financial Services.

As the rate of change accelerates, advisors face big shifts in automated tools, portfolio management and rebalancing. Our annual report shows where the action is.

"Ultimately, the challenge is how to most effectively translate clients' qualitative thoughts and feelings into quantitative approaches," says Merrill's Michael Liersch.