Industry

Nationwide Financial is getting into the retirement market.

“The success of the wealth-management business is fundamental to where the stock goes over the next five years,” said Christopher Wheeler, a London-based analyst with Mediobanca SpA, who has a neutral recommendation on UBS shares. “It’s the core business, and a number of other businesses feed off it, not the least asset management.”

Janus Capital Group has appointed Michael Stern as regional sales director to spearhead the expansion of Janus’ intermediary distribution and sales in New York City.

“The smart money is coming in,” said industry consultant Tim Welsh, president of Larkspur, Calif.-based Nexus Strategy, “and now we’ll see how smart the smart money is. Can they wring efficiencies out of this model?”

Eaton Vance Corp has hired Bob Cunha as Managing Director of Marketing and Distribution Strategy, responsible for leading Eaton Vance's marketing efforts across all distribution channels, including the company's brand positioning and media relations efforts.

Aristotle Capital Management is adding to its client service and marketing team. Catalina Llinás joins the firm as a managing director on the team.

An enforcement action from the Securities & Exchange Commission is a timely reminder to advisors to disclose any financial benefits their firm may receive from the broker-dealer it recommends to clients.

The new AIG Advisor Group system will allow its advisors’ clients to select a trusted family member or friend to help them make smarter financial decisions, explains Larry Roth, president and CEO of AIG’s Advisor Group, one of the largest networks of independent broker-dealers in the country.

Community Capital Management is expanding it’s northeastern presence with a new hire and a new office.

FINRA fined Merrill $1.05 million and ordered the firm to pay more than $323,000 in restitution for over 12,000 trades executed on its ML BondMarket platform.