Money Management Executive Latest News

ALPS Mutual Fund Services, a third-party vendor of administration, distribution, fund accounting and transfer agency services, has promoted Sean McLean to VP of fund accounting.

With fund companies slashing their budgets in this protracted market slump that was made only worse by the terrorist attacks of Sept. 11, consultants are offering firms a bit of advice: Don't cut so much that you eviscerate your ability to communicate with investors.

Allianz Life Insurance Company of North America is replacing Fred Alger Management as subadvisor on two funds offered through its variable annuity and life products, according to a document the company filed with the Securities and Exchange Commission.

A weak economy coupled with the Sept. 11 terrorist attacks has forced online portfolio provider, FOLIOfn to lay off 36% of its staff and significantly cut its executives salaries, said Michael Bell, the company’s chief administrative officer.

Phoenix Investment Partners has signed an agreement to acquire a majority stake in Capital West Asset Management, LLC, the company announced today. Capital West will become Phoenix’s tenth investment management affiliate.

Average 401(k) investors are contributing 6.8% of their before-tax salaries to retirement accounts, according the latest data provided by an ongoing joint research project conducted by two well-known industry groups.

Affluent women represent a viable market for fixed annuities, according to a new survey by Nationwide Financial.

Morningstar has launched a broker-dealer platform on its advisor Web site that allows users to compare the products and services offered by participating broker-dealers.

The National Association of Variable Annuities may have found a sponsor for its proposal that would award tax breaks to annuity distributions.

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