Money Management Executive Latest News

Americans are facing retirement with diminished expectations and an emphasis on protecting their assets, two recent studies find.

Financial advisers will have an important piece of investment management industry research available to them for the first time thanks to a collaborative effort announced this week by AdvisorCentral and Financial Research Corp. (FRC)

Following The Boston Globe’s report Tuesday that Putnam Investments will be charged with at least two counts of civil securities fraud within the next few days, Massachusetts Secretary of State William F. Galvin confirmed to Reuters he is weighing this serious matter. He said he will make a decision in the next few days – emphasizing that market timing is far more widespread than he originally thought.

Thanks to an increase in customer stock trading and perhaps also because of a lower payroll, Charles Schwab Corp. reported a third-quarter profit of $127 million Tuesday, compared to a $4 million loss at the same time last year, Reuters reports.

Looking to tap its 800 independent broker/dealer clients and 100,000 reps already using its Pershing subsidiary for custody services, The Bank of New York has created a way for these B/D firms to rent a managed account platform for their advisers.

Companies with 401(k) plans may not be immune to liability stemming from the mutual fund probe, The Wall Street Journal reports.

Australia’s Computershare, a global transfer agent and technology provider for the financial services industry, announced Monday an agreement to acquire New York-based shareholder services firm Georgeson Shareholder Communications for roughly $115 million in cash.

NEW ORLEANS – As the industry verges on the edge of a full-fledged crisis, executives at the Investment Company Institute’s annual operations conference here opted not to speak bluntly about what needs to be done in the wake of potentially damning revelations by New York State Attorney General Eliot Spitzer.

Bank One’s fund family took a heavy hit in September, according to monthly fund flow figures released Friday by Lipper Inc.

The Securities and Exchange Commission’s probe into the mutual fund industry has now expanded to an investigation at the heart of how fund timing and/or late trading could have occurred in the first place: whether some fund companies allow large investors to peek at their holdings, officials told Reuters.