Money Management Executive Latest News

Fidelity Investments has launched its first international high-yield fund, the Fidelity Global High Income Fund.

The Financial Industry Regulatory Authority has proposed that broker-dealers disclose any revenue-splitting arrangements they have with mutual funds at the time they sell their shares to investors.

Advisory clients, attorneys and other members of the public previously had to contact the staff at Financial Industry Regulatory Authority (FINRA) to get copies of disciplinary actions for firms and registered representatives.

LAS VEGAS - The federal budget deficit is estimated to skyrocket to $1.6 trillion in 2011, but Andrew H. Friedman of The Washington Update told a standing-room only crowd at the Investment Management Consultants Association's annual conference that there are still opportunities for investors.While the substantial deficit is here to stay, the $2 trillion in stimulus that has flooded the economy has made for huge growth in the stock market, Friedman explained. “We need to be careful what happens when the stimulus stops,” he added.

Kasina has named Vanguard, Fidelity, TIAA-CREF, iShares and The Hartford the five most successful users of social media among asset management firms.

A perfect storm of eroding Social Security trust funds, high unemployment and a flood of Baby Boomers all hitting retirement age at the same time will put enormous strain on Social Security for the next two decades, forcing retirees and their advisers to come up with alternative retirement income plans and strategies to make ends meet.

Many investors are unaware of the options available for their 401(k) left with a previous employer, Fidelity Investments found. Nearly one-third, 30%, who made a job transition are unsure of what to do with their workplace retirement savings.

Northern Trust said it plans to acquire technology-driven hedge fund administration firm Omnium from Citadel, the large Chicago asset manager and market-making firm.

Nearly 150 hand-picked and already highly successful Bank of America Merrill Lynch financial advisers next month will embark on what amounts to retirement training boot camp at The Retirement Advisor University (TRAU) in pursuit of a Certified 401(k) Professional designation to further their defined-contributions expertise and differentiate themselves from other DC practitioners.

Mass affluent investors, those with $100,000 to $1 million in investable assets, are pessimistic about investing, a survey of 596 individual investors and 610 financial advisers by MFS Investment Management found.