Money Management Executive Latest News

Dealing with the ramifications from a client's divorce and helping a married couple who have distinctly different ideas about how to handle their finances are two of the biggest problems advisors face when consulting with wealthy clients, according to a member poll by the Dow Jones Wealth Management Advisory Council.

In a reversal from its previous position that it would not sell its subsidiary Putnam Investments, Marsh & McLennan is now exploring how much it could get from such a sale.

Fidelity Investments announced the launch of the Fidelity Research Institute Wednesday. Drawing upon the talents of Fidelity's own investment professionals, the group will work with academics, policy-makers and other financial service providers to help educate the public, the media and the government on investing issues ranging from retirement to health care to insurance to real estate to college savings.

Milberg Weiss Bershad & Schulman announced Tuesday it is investigating whether Dell violated its fiduciary responsibilities to its 401(k) plan by offering company stock as an investment option in the plan and not releasing the firm's true financial condition.

Ed Rogers, who headed Deutsche Bank's prime services business in Japan through May and now runs, is planning to launch a $500 million Japan hedge fund-of-funds and is working with Wolver Hill Asset Management to raise the money, Bloomberg reports.

Workers at MFS Investment Management fear their jobs could be at risk once parent Sun Life Financial sells the company, the Boston Herald reports.

The New York Stock Exchange and other regulators are shifting the focus of their market-timing investigations from mutual fund companies and hedge funds to individual brokers and their supervisors, Susan Merrill chief of enforcement for the NYSE said, The Wall Street Journal reports.

The NASD Tuesday fined three MetLife Securities companies $5 million for allowing late trading of mutual funds, providing inaccurate and misleading information to the NASD and failing to produce e-mails in a timely fashion.

Three-quarters of the flows to mutual funds so far this year, or $113 billion, have been to international funds, Bloomberg reports.

Morningstar has published commentary urging the Securities and Exchange Commission not to back down on its independent chairman rule.