Money Management Executive Latest News

After two decades of exponential asset growth, fund complexes have developed new outlets for selling their funds - including all points in the electronic universe, from the telephone and mail to PCs and web-enabled personal digital assistants.

Schwab Institutional of San Francisco, went online last week with M-Pact, a Web-based application for automating and streamlining its separate-accounts sales, advisory and proposal process.

Fidelity Investments of Boston, distributed, tracked and closed twice as many sales leads in less than half the time of its old system with its new enterprise marketing solution, according to Gartner Inc., of Stamford, Conn.

Information from the historical databases for U.S. stock, indices, bond and mutual fund securities maintained by the Center for Research in Security Prices (CRSP) at the University of Chicago School of Business will be integrated into the upcoming release of financial analytical tools made by Insightful Corp., of Seattle.

A "new breed" of information technology (IT) consultancy focusing on banking, insurance and financial services was launched last week by Select Inc., a 15-year-old IT solutions provider in Westwood, Mass., whose clients include John Hancock, State Street and the Boston Stock Exchange.

T+1, the security industry's big technological initiative, is rolling through corporate financial systems, seemingly far removed from mutual fund portfolio managers' trading floors, or even their busy back offices.

ORLANDO, Fla. - As evidenced by advertising on the financial cable networks, financial services companies are eager to give retirement plan rollover assets a home, but effectively capturing those assets may not be so simple.

The last three years have shaken investors to the core, depleting their confidence in Corporate America and the stock market and leaving many unclear about what to believe and what to stay away from. While some companies have tried their best to regain the trust of the investing public, measurable success is hard to come by at this point.

In the wake of the three-year bear market that has seen stocks drop almost 50%, two mutual fund groups say they are successfully attracting hundreds of millions of assets by automatically rebalance diversified portfolios.

Thomas McCullough, EVP and COO of DST Systems, has been awarded the Robert L. Gould Award, which recognizes outstanding achievement in the mutual fund industry and is supported through the contributions of DST. The award was established in 1987 by NICSA's board in memory of Gould, who made a significant contribution to the financial services industry by improving shareholder services. At the time of his passing, he was president of DST Systems.