Money Management Executive Latest News

The Treasury Department has proposed several improvements for Section 529 college savings plans, including the use of age-based index funds and the elimination of home-state biases.

Kennedy Joins Lincoln as Head of Retirement Unit

Wirehouses are projected to lose $188 billion in client assets this year due to adviser migration, according to a new report from Cerulli Associates. And those losses are expected to continue over the longer term as well.

Labor Department Backs Off Proposed Retirement Advice Rule

LAKE BUENA VISTA, Florida - Mutual fund boards are grappling with their increasingly expanding roles as risk overseers, management coaches and shareholder advocates as the Securities and Exchange Commission continues to add new rules and raise its expectations, including the creation last week of the Division of Risk, Strategy and Financial Innovation.

Given the number of tactical and absolute-return mutual funds hitting the market, it appears that some fund complexes are now giving their portfolio managers more leeway. The 17 individual traders who run ProfitScore Capital Management's multi-manager long/short unified hedge account accomplish this by actively trading mutual funds within their individual specialty. They primarily buy funds from Rydex, ProFunds and Direxion, including funds that permit intraday trades. Money Management Executive recently spoke with John McClure, CEO of ProfitScore, about this unusual approach.

LAKE BUENA VISTA, Florida - With the one-year anniversary of the collapse of Lehman Brothers finally in the rearview mirror and the economy on the way to recovery, many participants in the financial services industry are questioning whether the industry still needs to undergo substantial regulatory change, and what changes, if any, could be beneficial at this point.

As expected the Department of the Treasury allows the insurance program backing money market funds to expire on Friday.

TD Ameritrade Institutional, a unit of TD Ameritrade Holding Corp., announced has introduced a Business Evaluator tool to help advisers join or start a registered investment advisory firm.

Launching the latest salvo in a price war between the top independent custodians, Schwab Advisor Services announced fee waivers and price cuts for functions that help advisers seeking to sell their businesses and maximize client referrals.