Money Management Executive Latest News

WASHINGTON - Less than half of 401(k) participants say they are "very satisfied" with the service providers that handle recordkeeping and investments, according to Warren Cormier, president of Boston Research Group of Hopkinton, Mass., and co-chair of the Spark Research Group of Simsbury, Conn.

Ibbotson Associates has introduced iManager, a software and support program mutual fund for wholesalers to create customized mutual fund fact sheets. Ibbotson consultants are available to help wholesalers create peer group comparisons and other custom details.

SEI Investments, a global provider of asset management, fund processing and investment technology solutions, announced a new product Friday called Product Analysis.

Securities regulators have launched a formal investigation into the sales practices of annuity brokers at New York-based brokerage firm Prudential Securities, The Wall Street Journal reports.

Morningstar announced Friday it will acquire mPower, a privately held firm that specializes in serving the large plan sponsor retirement market. Founded in 1995, mPower was a pioneer in providing online retirement advice.

Seven Vanguard funds have started tracking new indexes developed by Morgan Stanley Capital International (MSCI), Vanguard announced last week.

Securities regulators have launched a formal investigation into the sales practices of annuity brokers at New York-based brokerage firm Prudential Securities, The Wall Street Journal reports.

Gathering the largest percentage of inflows into all types of mutual funds in 2002, funds of funds received one out of every seven dollars that flowed into the worldwide mutual fund industry last year, according to a recent Cerulli Associates study.

Federated Investors has launched a 529 plan sponsored by Oregon and administered by State Street Corp.’s Schoolhouse Capital.

Charles Schwab & Co. has introduced a small-cap equity fund that will use its in-house equity ratings. The Schwab Small-Cap Equity Fund is designed for a broad range of investors interested in long-term capital growth of small companies through a single investment.