Money Management Executive Latest News

Steve Gresham doesn't mince words.

Money Management Executive and Source Media are accepting nominations for the third annual Fund Operations Awards.

Attorney General Eliot Spitzer, a 2006 Democratic candidate for governor in New York, said his office reaped a record level of financial recoveries in 2004.

Fidelity Investments, already top dog among U.S. mutual fund complexes in the retirement field, is positioning itself to get an even bigger chunk of the market.

San Antonio, Tex. - President Bush's plan to fix Social Security through the creation of individual accounts does not solve the problem and may make matters worse for some, according to Kenneth S. Apfel, the Sid Richardson Chair of Public Affairs at the University of Texas and former Commissioner of Social Security. Apfel discussed his analysis of the Bush plan at the Retirement Conference Series, sponsored by LIMRA, LOMA and the Society of Actuaries.

Federal regulators are sending a new message to some of the industry's best performing funds: double-check your math.

Jeff Thomas Allen, the former CEO of Advanced Investments Management (AIM), a Pittsburgh, Pa..-based firm that once managed more than $6 billion in pension assets, has agreed to pay a $175,000 fine to settle a Securities and Exchange Commission allegation of fraudulent trading. Allen, who has not admitted wrongdoing, has been barred from trading.

Spectrem Group said Wednesday that its affluent investor index fell two points in March.

Borrowing a strategy straight from the playbook of its longtime chairman, Edward "Ned" Johnson III, Fidelity Investments has quietly built one of the industry's biggest brokerage houses.

Putnam Investments' chief executive officer says the rehiring of a leader for its institutional sales division last week is another step in the right direction for the Boston fund company's turnaround from its regulatory scandals.