Practice

Rather than focus on the traditional notion of saving for retirement, asset management firms serving affluent investors with a minimum of $100,000 to invest and who are between the ages of 40 and 60 should understand that most of these people never intend to leave the workforce, according to Hearts & Wallets.

BNY Mellon this week said it will expand its treasury services group's electronic billing and payment processing services to include notifications via SMS text messaging to clients' mobile devices.

Making estate planning decisions can sometimes bring up uncomfortable topics for clients, but Holly Thomas, the founder of Holly P. Thomas, LLC, in Tampa, Fla., said it's a vital part of any financial plan.

OppenheimerFunds is paying $100 million to settle a class-action lawsuit against two of its funds, the Oppenheimer Champion and the Oppenheimer Core Bond funds

The Securities and Exchange Commission in late July voted unanimously to require large trading firms to identify themselves, so their market activities can be tracked (see Money Management Executive, 8/1/11, page 4).

The problem for many sole practitioners and small planning firms is that working with a PR firm in any way, shape or form is generally too expensive to even consider. This week, we'll talk about a more affordable option: Group Training and Empowerment Programs -- which can be a very attractive option if you can find the right group.

The Depository Trust & Clearing Corp. said that it will not change any valuations of securities required as collateral for the activities of Fixed Income Clearing Corp. as a result of Standard & Poor's downgrade of its rating on U.S. government debt.

Even though the government reached an agreement to raise the debt ceiling, 54% of Americans surveyed said the debate over the debt ceiling has made them feel less confident in the economy, the RBC Consumer Outlook Index for August found.

Barack Obama has missed his chance to see a director of the new Consumer Financial Protection Bureau take office within his first term as president.

CBOE Holdings said its net income jumped 32 percent, even as trading in futures and options declined 16 percent in the secnd quarter.