Money Management Executive Latest News

Starr Joins Amvescap as Chief Financial Officer

In order to be a successful financial adviser, it is imperative to provide high-level service to clients and be knowledgeable about products, the markets and the investment management industry. But even the most adept advisers need help, via adviser education platforms, and, surprisingly, that's an area where mutual fund companies often fall short, according to a new report from Corporate Insight, a financial services market research and consulting firm based in New York.

NEW YORK - As the demand for unified managed accounts continues to grow at a brisk pace, the money management industry has an opportunity to improve the nation's savings rate, which is slower today than at any point in its history and threatens the future financial health of millions of Americans.

Compass Bancshares knew it had to dump its proprietary fund family if it wanted to make any impact as a wealth manager, and it, like many smaller banks, believes it has found an impact product in separately managed accounts.

Here we are, one full year after the Securities and Exchange Commission adopted a new compliance program through Rule 38a-1 under the Investment Company Act of 1940, requiring fund boards to adopt written compliance policies and procedures reasonably designed to prevent violations of the federal securities laws by fund complexes, including compliance oversight of certain service providers.

BlackRock Inc. and Nuveen Investments have both reported an impressive third quarter in earnings, thus, illustrating the ability of management firms to bring in new money, says The Wall Street Journal.

Exchange-traded sector funds give investors the opportunity to instantly increase or decrease their exposure to different sectors of a benchmark through a one-step equity trade and offer diversification, low expense ratios, high tax efficiency, and at the same time allow investors the flexibility of the full range of stock order types throughout the day, Lipper reports. In addition, certain sector ETFs even have the added benefit of highly liquid options trading.

Investors and debt strategists predict that developing nations' bonds will bounce back and surpass U.S. Treasuries in the next few months, Bloomberg reports.

Evergreen Investments is facing consequences for the inappropriate rewards the firm gave to financial advisers who sold Evergreen products, Boston Herald reports.

The Securities and Exchange Commission has proposed guidance on soft-dollar practices, where money managers pay above-average commissions to brokers, who in return provide goods and services helpful to money managers' investment clients.