Money Management Executive Latest News

Get ready for a new wave of low-cost, online-only financial advice companies.

A reincarnated version of an annuity that never gained much traction in the marketplace is finding fans among seekers of retirement income.

Wells Fargo's regional president of Florida operations has been promoted to a national executive.

As Gen Xers and Gen Yers put their holey jeans and futons behind them, many financial institutions are trying to lure those newly affluent age groups with high-tech services.

Bloomberg -- Bank of America Corp.’s Merrill Lynch unit agreed to pay $160 million to settle a discrimination lawsuit filed by black financial advisors, a lawyer for the plaintiffs said.

The fact that clients don’t always divulge all their personal financial information to their financial advisors comes as no surprise. The questions that need to be answered, however, are: how many clients, what is being withheld and why are they so secretive?

The Securities and Exchange Commission today sanctioned a former portfolio manager at a Boulder, Colo.-based investment advisor for forging documents and misleading the firm’s chief compliance officer to conceal his failure to report personal trades.

BLOOMBERG -- The rate New York state and its local governments pay to the $160.4 billion pension fund will drop for the first time in five years, Comptroller Thomas DiNapoli said.

As real estate recovers, non-listed REITs are soaring, but they haven’t been much of a hit with customers of Merrill Lynch.

OppenheimerFunds and Putnam Investments are among the winners of the 2013 NOVA Awards, which recognize innovation in the investment management industry.