Money Management Executive Latest News

Attorneys with Schiffrin & Barroway announced this week plans to file a class-action law suit in the United States District Court for the Eastern District of New York on behalf of investors who purchased "shelf-space finds" from American International Group's Advisor Group broker/dealers between June 30, 2000 and June 8, 2005.

The Tinman's missing heart may make it hard to feel, but he'd probably do pretty well in the market, according to the Associated Press.

Individual investors might consider bulking up their portfolios using "mutual fund barbells" modeled after other types of barbells found among professional investors, suggests Bloomberg columnist Chet Currier.

PowerShares Capital Management has hired Robert C. Brooks of State Street Global Advisors, in an effort to further strengthen its upper management team. Brooks joins the company as senior vice president and national sales manager.

Pacific Life has decided to offer the Roth 401(k) option in its Individual(k) program, allowing small business plan participants to designate any contributions as pretax salary deferrals or after-tax Roth contributions.

Banning brokers from voting mutual fund shareholders' proxies for fund directors could potentially empower mutual fund investors, but could create a problem for some companies, The Wall Street Journal reports.

The Securities and Exchange Commission filed charges last Friday against California-based CMG Capital Management Holding Co. and its key executive, Keith Gilabert, Compliance Reporter reports. The SEC alleges that not only did Gilabert and the firm pocket funds, they also misled investors about returns.

Concerns that separating research and trading fees violates brokerage firms' exemption under the Investment Act of 1940 are probably unwarranted, according to a Securities and Exchange Commission official, The Wall Street Journal reports.

401kDirect will next week begin offering exchange-traded funds through qualified 401(k) retirement plans through its 401k Professionals program.

Mutual fund shareholders have seen strong investment gains in recent times; however it is the shareholders of the actual fund companies who should be celebrating, as they are the ones who have really profited, according to MarketWatch.