Industry

Two brand name firms are prolonging their exchange-traded fund distribution venture.

RIAs like to think of themselves as starkly different than their counterparts in the wirehouse channel -- in terms of fee structure, fiduciary responsibility, independence and, often, income. But a new study casts some doubt on the income part of that equation.

The St. Louis firm snapped up a former Morgan Stanley advisor with $114 million in assets.

Kaminsky, who was the cable television network’s capital markets editor, will work with Morgan Stanley’s financial advisors on client development.

Small business owners prefer a Tax Code with low rates and fewer deductions, according to a new survey by the National Federation of Independent Business, but their bottom line is whether their taxes rise or fall.

Average assets under management for financial advisors in North America hit a record $81 million last year, according to a new report.

Paul Springmeyer joined the bank’s Private Client Reserve unit as a senior portfolio manager and John Ostrand joined as a trust officer.

Munder Capital Management has hired Jim Kourkoulakos, a former portfolio manager and co-head of credit research at California Public Employees’ Retirement Service (CalPERS), as a senior portfolio manager for fixed income.

Kristen Pelling has joined Putnam Investments to fill a new role focused on large market defined contribution recordkeeping sales.

Raphael Zagury, Bank of America Corp.’s head of creating derivative investments for wealthy clients at Merrill Lynch, said he resigned.