Money Management Executive Latest News

National Financial, Fidelity Investment’s clearing and custody company, announced a new myStreetscape portal for investors working with brokers who use the Streetscape platform.

U.S. Bancorp has launched a new exchange-traded funds service, ETF-Fusion, which helps existing or start-up ETFs with product development,administration and trade support, proprietary technology and regulation and compliance.

The Hartford will hire up to 50 in its mutual fund sales distribution unit, in a push to beef up this division.

As equity funds across different regions, capitalizations and investment styles plummeted between -15% and -26% in the third quarter, publicly traded asset managers were hit with an average 8.9% decline in fee-earning assets under management, Moody’s said Thursday. U.S. small-cap stock and emerging markets indices suffered the sharpest losses.

The Securities and Exchange Commission announced Thursday that it is accepting registrations for its next national seminar for chief compliance officers and other senior investment management executives.

Long-term mutual funds were hit with $9.24 billion in redemptions in the week ended Nov. 30, the Investment Company Institute said.

The Principal has launched the Dreamcatcher mobile application for iPhones, a companion to the Dreamcatcher web tool. This is part of Principal’s “Dream Again with The Principal” financial educational campaign aimed at helping people envision their financial goals—and putting them into clear focus.

Walmart, the world’s largest private employer, and Merrill Lynch, without admitting to wrongdoing, have agreed to pay $13.5 million in a class-action lawsuit accusing them of breaching their fiduciary duty to two million past and present Walmart workers. The suit was settled in Kansas City federal court.

Forty-six percent of Americans surveyed by Fidelity Investments cite saving more as their No. 1 financial resolution for 2012, and among this group, the median savings target is $2,400, up from $1,200 last year.

NEW YORK—“Market volatility in recent years has not been unusually large compared to historical norms,” attested Eric Noll, executive vice president, transaction services at NASDAQ.