Money Management Executive Latest News

Investment advisers can now create a customized Web site within the Invesco Funds adviser pages. The revamped Web site, which Invesco is offering at no charge, provides advisers with news and commentary and enables them to keep track of customer accounts.

Fidelity Investments is adding an account aggregation service from Yodlee to its Web site for defined-contribution investors.

American Skandia has made several changes to its mutual fund and annuity portfolio line ups. Skandia has created two new mutual funds and three new annuity portfolios, while consolidating and replacing managers on several annuity sub-accounts. The moves signal a shift in investment strategy to lower risk and provide more consistent management, according to the firm.

The Phoenix Cos. has created a new Web site to help financial planners make sense of the bevy of tax laws applying to qualified plans and IRAs. The site covers tax credits due to employers who provide retirement plans and new limits, including catch-up limits for employees.

The National Investment Company Service Assn. (NICSA) is offering a 58% discount on its Mutual Fund Industry Specialist Certificate Program through May 31 for companies that enroll five employees or more. The limited-time discount lowers the standard $1,200 tuition by $700 to just $500 a person.

Fund clearinghouse Pershing has reached an agreement with Standard & Poor’s to provide mutual fund data and analytical tools from S&P’s Fund Advisor on Pershing’s NetExchange Pro platform for broker/dealers. Through the end of May, Pershing is offering free access to Fund Advisor to the 44,000 financial advisers at 500 broker/dealers who subscribe to NetExchangePro.

Morgan Stanley is selling its self-directed online account business to Harrisdirect, a division of the Bank of Montreal Group of Companies, for $106 million.

Citizens Advisers, the investment advisor to the socially responsible Citizens Funds, has changed the design and content of its quarterly shareholder reports.

New York Life Investment Management is renaming its affiliate and products catering to medium and large retirement plans. NYLIM Retirement Plan Services is the new name for what the firm had been calling New York Life Benefit Services. New York Life has already been using the new moniker for its affiliate and products catering to small retirement plans.

Only 5% of money managers are bearish on the economy, according to a survey of 64 leading investment management firms by Consulting Group, the managed money unit of Salomon Smith Barney.