Money Management Executive Latest News

A study conducted in 2007 by Merrill Lynch and consulting firm Capgemini Group found that the rich are getting richer worldwide, The Hamilton Spectator reports. Last year, people worth more than $1 million increased 6% to around 10.1 million.

Bowne & Co. recently acquired Capital Systems for $13 million.

As high school and college seniors graduate, many are faced with the financial predicament to spend versus save. Despite some college programs, like St. Johns University, which offers computers to its incoming freshmen, high school graduates have many expensive needs for college, leading many to spend their graduation money, the Poughkeepsie Journal reports.

Last week’s Morningstar Investor Conference in Chicago may have echoed with many of the same old solutions of the past, but for those who listened carefully to Mohamed El-Erian’s message, “This time it’s different.”

Economists throughout the U.S. continue to weigh in on their predictions, rationalizations, and remedies for the current market crisis. As many forecasts indicate, hard times are still ahead for the American economy, The Christian Science Monitor reports.

Balancing saving for college and retirement has grown increasingly difficult in the recent generation, according to a research paper from Putnam Investments. The paper, called “College or Retirement? How to Calance Two of Life’s Biggest Savings Goals,” indicates a variety of reasons for this dilemma concerning families throughout America.

In November of last year, the SEC proposed a rule to decrease the prospectuses of mutual fund firms to summaries of around three pages that could be accessed online, Mortgage Banking reports. According to a report produced by research firm Aite Group, if this rule takes effect, the financial service industry stands to save more than $65 million per year in printing and postage in addition to the rescue of over 42,000 trees annually.

Morningstar Builds Up Adviser Workstation

JPMorgan Chase has expanded its collateral management service for over-the-counter derivatives by adding automated reconciliation through the triResolve solution of Stockholm-based TriOptima.

Massachusetts Secretary of the Commonwealth William Gavin has charged UBS AG's UBS Securities, LLC and UBS Financial Services with fraud and dishonest conduct regarding the firms retail sales of auction-rate securities.