Money Management Executive Latest News

Two consecutive quarters of job gains and strong fourth-quarter earnings reports will tell fund managers and investors whether or not the U.S. economy is back on track and the market correction and profit-taking that took hold in many sectors on Sept. 20 will cease.

Employees in 401(k) plans are unable to retire as early as pension recipients, but not as later as one might think. 401(k) participants retire an average 15 months later than workers with traditional pensions, a new study finds.

State regulation of the insurance market is inconsistent and erratic, according to a report from the General Account Office (GAO). Congress is looking at market conduct supervision because the current system has created a situation that does not provide adequate consumer protection and at the same time creates onerous supervision of some companies.

As regulators look to tighten up the mutual fund industry and instill greater investor confidence, they may have a difficult time proving that managers buying stocks to dress up a portfolio intend to deceive investors, Reuters reports

Janus Capital Group lost $314 million in assets between August and September as the result of accusations from New York State Attorney General Eliot Spitzer that the company allowed some investors to engage in market timing, Reuters reports.

More U.S. households are using Roth Individual Retirement Accounts (IRAs) as an investment vehicle than a year ago, according to a report released by Investment Company Institute.

Independent financial advisers dealing with Lockwood Advisors, a subsidiary of the Bank of New York, were introduced to a new product Tuesday when the company announced the launch of an Overlay Separate Account Portfolio (OSAP) program designed to help both advisers and their clients.

In an effort to further strengthen the effectiveness of mutual fund boards, the Investment Company Institute added two recommendations to its "15 best practices" platform: prohibition of close family members of fund employees, and audit requirements mirroring those set forth for companies by Section 301 of the Sarbanes-Oxley Act.

To tap into the Asian and European markets, Prudential Financial launched a new private wealth management firm Wednesday called Dryden Financial, Reuters reports.

Two consecutive quarters of job gains and strong fourth-quarter earnings reports will tell fund managers and investors whether or not the U.S. economy is back on track – and whether the market correction and profit-taking that took hold in many sectors on Sept. 20 will continue, Lipper analysts said Wednesday.