Money Management Executive Latest News

Investors pulled a net $37.97 billion out of mutual funds in November, according to the Investment Company Institute. Most of the outflows throughout the month came from equity funds and most of the inflows were posted by money market and fixed-income funds.

Volatility, the fear of a second worldwide recession, continued aversion to equity funds and uncertainty over Dodd-Frank regulatory fallout-all headlined 2011.

Financial advisers will remember 2011 as "The Year of Volatility" or "The Year of Uncertainty," according to a survey of 200 financial advisers polled by the SEI Advisor Network.

After Congress, the Federal Reserve, the Federal Housing Federal Agency and, last but not least, the Securities and Exchange Commission all failed to recognize the hazardous levels that mortgage-backed securities were reaching in 2008, regulators realized something was seriously wrong.

Union Bank has promoted bank veteran Terry Negendank to regional managing director of The Private Bank, in charge of wealth management in Northern California.

Morgan Keegan's brokerage force has stayed in wait-and-see mode as parent firm Regions Financial looks to sell that business, but that could all change if uncertainty about the firm's future persists or if a new deal presents unfavorable terms, experts say.

For Patrick Colle, international is not enough. For BNP Paribas Securities Services to be successful, he believes it has to be global.

As a client takes distributions, a money manager ultimately becomes more important than asset allocation as the sequence and volatility of market returns rises.

Here is to wishes for a successful New Year for those in the asset management industry and the investors it serves.

Three mutual funds that might do well next year all have one thing in common: they weren’t chosen because they were the absolute top performers in 2011. Instead, they were chosen on the basis of diversification, strong performance, level of risk and cost basis, said S&P Capital IQ mutual fund analyst Todd Rosenbluth.