- Money Management Executive
Fidelity Investments has expanded the sales and relationship management team at its registered investment advisor group by hiring 10 additional staffers, bringing the total number on the team to nearly 125.
June 28 - Money Management Executive
The Securities and Exchange Commission is investigating potential securities fraud with respect to the securitization and sale of subprime loans, SEC Chairman Christopher Cox told Congress Tuesday, Dow Jones reports.
June 28 - Money Management Executive
Although in April, Edward Jones proposed settling investor lawsuits over hidden revenue-sharing agreements for $127.5 million, the firm is now trying to postpone approval of that settlement from July 20 to Oct. 1, the St. Louis Daily Record reports.
June 28 - Money Management Executive
Principal Global Investors has signed a definitive agreement to acquire stable-value manager Morley Financial Services, which has more than $14 billion in institutional assets under management.
June 27 - Money Management Executive
The MainStay division of New York Life Investment Management is planning a series of five MainStay Retirement Funds, target-date funds with retirement dates spanning from 2010 to 2050. NYLIM’s equity investors group will manage the funds and New York Life Retirement Plan Services will distribute them.
June 27 - Money Management Executive
On a new twist from the recent trend of mutual fund companies acquiring hedge fund and other alternative investment money managers, BlackRock announced Tuesday that it is acquiring the funds-of-funds division of Quellos Group for up to $1.7 billion. The division runs funds-of-funds that invest in mutual funds, hedge funds, private equity, real estate and hybrid offerings.
June 27 - Money Management Executive
The Alliance in Support of Independent Research has asked Securities and Exchange Commission Chairman Christopher Cox to reconsider repealing Section 28(e) of the Securities and Exchange Act of 1934 that permits soft dollars to pay for investment research.
June 27 - Money Management Executive
Many financial advisers are still grappling with how the Pension Protection Act permits them to give advice to 401(k) plans, Investment News reports. And a good majority doesn’t want to move to fee-based accounts from commissions.
June 27 - Money Management Executive
For the first time since the bear market of 2000-2002 and the mutual fund trading scandal that so tarnished its image, Janus Capital appears to be rising out of “purgatory,” Kiplinger’s Personal Finance reports.
June 27 - Money Management Executive
Testifying before Congress on Tuesday, the five Securities and Exchange Commissioners said they were doing a good job of policing corporate America.
June 27