Money Management Executive Latest News

Info-One, a financial services consulting and technology company, of Campbell, Calif., has acquired Financial Planning Resources of Atlanta, Ga. for an undisclosed sum, Info-One has announced. Financial Planning Resources owns The VARDS Report and the VARDS Total Reference system.

Putnam Investments of Boston has been awarded the management contract for the new college investment program sponsored by the state of Ohio. This is the first state-sponsored college investing plan management contract Putnam has been awarded.

T. Rowe Price Associates of Baltimore, Md., later this year, will begin operating under a new holding company, T. Rowe Price Group, said Steven Norwitz, a spokesperson for the company. T. Rowe Price Associates will be one of several subsidiaries operating under the new company.

The SEC has promoted Susan Nash from senior associate director to associate director at the division of investment management.

GE Financial Network last week launched a novel contest that will award financial and other prizes to individuals that find 6,000 wallets GE will purposely "lose" at various public locations in 10 major metropolitan cities. The contest will run until Aug. 6th.

Invesco Funds Group of Denver has added two external wholesalers to its sales force. Harvey Schwartz is now vice president and senior regional wholesaler, responsible for Alabama, Georgia and the Florida panhandle. Schwartz was previously a wholesaler with Massachusetts Mutual Life Insurance Company of Springfield, Mass., in the annuity strategic business division in Atlanta. Jeff Botwinick is now a vice president and regional wholesaler at Invesco, responsible for Missouri, Kansas, Oklahoma, Arkansas, Louisiana and Mississippi. He previously was a wholesaler with MainStay Investments of Parsippany, N.J.

The Investment Company Institute has asked the SEC to make changes in its after-tax rule proposal that would reduce the quantity of data funds would be required to disclose and would mean funds have to include the data in prospectuses only, not in annual reports as well.

The Investment Company Institute of Washington, D.C. last week announced its support of legislation that would revamp ERISA regulations to allow 401(k) plan providers to offer employees advice.

The Securities and Exchange Commission is considering allowing fund companies to shorten their bi-annual shareholder reports, according to a spokesperson for the SEC.

MutualFunds.com of Boston will launch its website this fall as a mutual fund site targeting three audiences - investors, mutual fund companies and financial advisors.