Practice

Wachovia Corp. says its retail retirement group is drawing assets by having advisers work face to face with customers at every income level to create a retirement plan.

Millionaires became slightly more optimistic about the future of the U.S. economy in May, according to Spectrem's Millionaire Investor Index.

JPMorgan Chase & Co. has a pair of initiatives designed to strengthen its position in the asset management market.

Walter Ricciardi, the Security and Exchange Commission’s deputy director of the Division of Enforcement, announced he will retire this month to join the law firm of Paul, Weiss, Rifkind, Wharton & Garrison LLP as a partner.

Iowa has launched a “Baby 529 College Savings Giveaway” program in which it will randomly award $1,000 in money toward a 529 plan to one baby a month at participating Iowa hospitals. Every family that registers their child, however, will also receive a small “welcome home” gift, courtesy of Iowa State Treasurer Michal L. Fitzgerald.

Welcome to Money Management Executive's 6th Annual Fund Operations Awards.

This Tuesday, June 3, the Senate Banking Committee will consider three nominations to the Securities and Exchange Commission, possibly paving the way for a number of mutual fund measures to be decided upon.

Many mutual fund industry analysts are skeptical that the Securities and Exchange Commission will take final action on any of its outstanding proposals this year, but if it does, the summary prospectus and XBRL tagging are likely to top the list, with a proposal on changes to 12b-1 fees to follow in 2009.

While not exactly a national victory for the mutual fund industry, a recent court ruling regarding "excessive fees" could set a strong precedent for further disputes.

After spending the past 10 months as acting chief, Securities and Exchange Commission Chairman Christopher Cox finally decided to name Rosalind Tyson the official director of the commission’s Los Angeles office – a region that covers Southern California, Nevada, Arizona, and Hawaii.