Money Management Executive Latest News

As fund companies have begun to realize that complex, feature-laden Web sites aren't generating the return on their investment they once hoped for, T. Rowe Price has taken a wider approach to the issue: Get your customers to open up their financial secrets online. But the company apparently isn't expecting a return on its investment.

But the reality, the report said, is that only 7% of U.S. households who use the Web want the services aggregation technology can provide. In many cases, consumers are afraid to disclose the passwords and usernames for their financial accounts, which is necessary for services like T. Rowe Price's to function.

In general, when a fund company merges two funds together, things are not going well with one of them.

While some funds have affiliated with consumer product companies to offer promotions and give-aways, the companies that have had the most success with affinity marketing programs have typically formed alliances with organizations whose members have a need for their products, according to financial services marketing executives.

Poof! Now your under-performing fund looks good.

Look at the list of large, well-known fund providers that offer a socially responsible investment product and the first thing you'll notice is that the list is short. Very short.

When people think of mutual fund supermarkets, they often think of Charles Schwab's OneSouce or Fidelity's FundsNetwork. But WhatifI Financial of San Francisco plans to sell its proprietary mutual fund family in a different kind of supermarket--where shoppers can pick up a dozen eggs, a fresh loaf of bread and a steak for dinner.

Craig Lamson has joined Forward Funds, a group of four retail sub-advised mutual funds, where he will serve as the director of marketing. He will assume responsibility for marketing all of the company's products, which include, small-cap equity, growth and real estate funds.

TIAA-CREF has hired Michael Lane to head a new team that serves fee-based financial advisors. Lane, who was named director of advisory services at the New York-based firm, reports to Dennis Foley, VP of TIAA-CREF's annuity and mutual fund businesses.

INVESCO Funds Group has promoted Laura Parsons from VP of public relations to senior VP of corporate affairs. The new title will not affect Parson's responsibilities, but reflects changes to the structure of INVESCO's public relations unit, according to Ray Cunningham, president of INVESCO Funds.