- Money Management Executive
Most broker/dealers recommend that clients buy or hold onto stocks of companies until the day those companies file for bankruptcy, according to a study by Weiss Ratings. Despite widespread concerns about dubious ratings following scandals at Merrill Lynch and other brokerages, in the fourth quarter of 2002, Weiss found that only 10 out of 30 broker/dealers switched their recommendations to "sell" before companies went bankrupt.
January 21 - Money Management Executive
Dalbar has awarded a dozen fund complexes its Mutual Fund Service Award, the firm said this week.
January 21 -
WASHINGTON - Securities and Exchange Commission officials intend to finalize a controversial proposal to force mutual funds to disclose how they vote in proxy decisions this week.
January 20 -
Securities and Exchange Commission Chairman Harvey Pitt this month urged mutual fund directors to ensure that their investors are not being overcharged by brokerage houses in the form of fees levied on securities transactions (see MFMN 1/13/03).
January 20 - Money Management Executive
Michael Lane is director of adviser services at TIAA-CREF. Lane joined the company just over a year ago to help market TIAA-CREF products to registered investment advisers. During his tenure, the department has grown from five to 18 staff dedicated to the adviser distribution channel.
January 20 - Money Management Executive
Fund companies have learned that retaining assets can be even more important than attracting new assets. Predicting which customers' behavior patterns signal they are about to jump ship can often help savvy fund sponsors intercede and possibly avert redemptions. That's one area where customer relationship management technology (CRM) is useful.
January 20 - Money Management Executive
Prudential Financial has appointed Janet Mariconti as senior VP at Prudential Investments. She will report to Keitha Kinne, a SVP and director of investment management services with the firm.
January 20 - Money Management Executive
Timothy Pettee has joined SunAmerica Asset Management Corp. as its chief investment officer and director of research.
January 20 - Money Management Executive
Metavante Corp. a technology subsidiary of Marshall & Isley Corp. has hired Douglas Smith as VP and general manager for its trust processing and 401(k) services group.
January 20 - Money Management Executive
Fidelity Management and Research Co. has filed with the Securities and Exchange Commission a notice that it intends to close accounts that do not maintain a minimum balance.
January 20