Money Management Executive Latest News

Investor optimism declined slightly in November, thanks to a consistently weak economy. According to the Index of Investor Optimism, a joint effort of UBS PaineWebber and the Gallup Organization, the overall index decreased 13 points to 117 from 130 the prior month. Conducted monthly, the Index had a baseline of 100 when it was established in October 1996.

In an effort to expand its presence in Japan, Toronto fund complex AGF Management Limited said today that it will acquire a minority stake in a Japanese brokerage firm called Maruhachi Securities.

Domestic equity funds reported inflows of $2.1 billion for the four-day week ending on Tuesday, Nov. 20, according to AMG Data Services, a fund tracker in Arcata, Calif. International equity funds, however, experienced net outflows in all emerging and developed regions, according to AMG.

CIBC announced that it has reached an agreement with Merrill Lynch Canada to acquire Merrill’s Canadian retail brokerage, asset management and securities services businesses, for its CIBC Wood Gundy unit. The acquisition price is between $475-$650 million, but the final purchase price is expected to be between $500-$600, according to CIBC.

Mutual Fund Market News will take a break to celebrate the Thanksgiving holiday on Thursday. Our staff will resume posting breaking news to the Web site on Friday. Have a great holiday.

Fidelity Investments decided this week that it will not charge an annual fee to clients with low account balances if retail assets for their households total at least $100,000 or they have recently opened a retirement account, a company spokeswoman said today.

This piece was adapted from Financial Planning magazine Financial advisers have grown savvier about their clients this year and have the assets to prove it, says a new report from Rydex Global Advisers’ AdvisorBenchmarking.com.

This piece was adapted from Financial Planning magazine Employees want to ensure security when they retire -- so much so that 57% would prefer better retirement benefits over a higher salary.

Net flows into equity and balanced funds totaled about $11 billion in October as stock and bond prices began to rebound, fund research firm Strategic Insight said today.

Online education company Kaplan College said this week that those who complete a course it offers in financial planning will now qualify to be included in a referral network offered by the International Association of Registered Financial Consultants.