Money Management Executive Latest News

The U.S. District Court in Tampa, Fla. has convicted Steven Adler, former president of Vector Index Advisors and manager of the ASM Index 30 Fund, of misappropriating $1.9 million from 11 investors [see MFMN 12/03/01].

Institutions Placing Money in Bank Accounts Instead

In an attempt to lure retail investors, FOLIOfn of Vienna, Va., recently began waiving its monthly fee and offering $4 trades. The move is intended to attract investors new to online investing who are not ready to pay monthly fees, according to Steve Wallman, CEO and founder of FOLIOfn and a former commissioner with the Securities and Exchange Commission.

Liberty Financial of Boston is spelling opportunity with a capital "Z."

Assets in managed accounts outside the U.S. will more than double in the next four years, according to a new report.

MFMN: Waddell & Reed has two different fund groups, the Waddell & Reed Advisors Group of Funds and the W&R Funds. What is the difference between the two groups?

Former Putnam Exec Joins GoldK as EVP

Just weeks after Merrill Lynch of New York settled a case with the State of New York to improve its disclosure of business dealings with the companies it analyzes, the New York investment and banking firm faces a smattering of lawsuits.

With the Oakmark International Small Cap Fund topping $325 million in assets, the fund's investment advisor, Harris Associates, closed the fund to new investors last week. Existing shareholders, however, may continue to purchase additional shares and reinvest dividends and capital gains.

Waddell & Reed has introduced a 401(k) plan for the self-employed. Called Exclusive(k), it is meant to be simpler to manage than traditional 401(k)s, according to the firm.