Money Management Executive Latest News

Advisers and millionaires are not on the same page, Fidelity Investments said, citing its comparison of the findings of its Fidelity Millionaire Outlook, based on a survey of 1,000 millionaire households, and the Fidelity Broker and Advisor Sentiment Index, the result of a survey of 1,046 financial professionals.

Two years after proposing rules to avert misuse of client assets on the scale of the Madoff ponzi scheme, the Securities and Exchange Commission (SEC) proposed amendments that would strengthen oversight of broker-dealer audits.

Fifty-four percent of adults age 65 or older are confident in their retirement preparedness, according to Charles Schwab’s latest quarterly retirement pulse survey. But only 26% of those between the ages of 18 and 34 share those feelings.

Direxion has launched five new daily leveraged and inverse exchange-traded funds, focused on sectors that have attracted large assets and have high trading volume.

Enrollment in high-deductible health insurance plans that can be linked to health savings plans rose 14% in 2010, according to the trade association America’s Health Insurance Plans. And since 2008, enrollment has in such plans spiked by 87%.

IndexIQ has launched the IQ US Real Estate Small Cap ETF (ticker: ROOF), which it says is the first ETF focused on small-cap U.S. real estate.

The fund will be sub-advised by four global advisory firms.

Positive yet cautious hiring intentions are expected to persist throughout the summer, according to the Manpower Employment Outlook Survey. The Net Employment Outlook for the third quarter is +8%, up from +6% in the third quarter of 2010.

A survey of 1,009 adults by Edward Jones on their retirement savings found good news and bad news. While 15% said their portfolios have recovered from the economic downturn, up from 12% in April 2010, 25% are not saving for retirement, up from 16% a year ago.

John Hancock Mutual Funds has launched three new fundamental equity funds, the John Hancock Fundamental Large Cap Core Fund, John Hancock Fundamental Large Cap Value Fund and John Hancock Fundamental All Cap Core Fund.