Money Management Executive Latest News

UBS Financial Services Inc. is on the hook to pay $2.2 million in the largest settlement to date related to Lehman Brothers-associated investment products it once sold.

Spectrem Group announced Wednesday that its Spectrem Millionaire Investor Confidence Index rose seven points in December to end the year at 7.

Over the past couple of years, small and midsize banks have happily positioned their wealth management businesses as alternatives to those of big, wounded banks and brokerage houses.

The Depository Trust & Clearing Corporation said Tuesday it plans to add a chairman of the board, with separate duties from that of its chief executive officer, Don Donohue.

MFS Investment Management has historically been best known for its bond funds—but it’s the firm’s Municipal High-Income Fund (MMHYX) that stands out as a gem of consistency.

The State Street Investor Confidence Index, which gauges the confidence of institutional investors as measured by their exposure to equities, rose eight points to 104.4 in December, up from 96.4 in November. A reading of 100 is neutral.

In December, adviser confidence in the U.S. economy and stock market reached its highest mark since February 2007, according to the Adviser Confidence Index, a benchmark that gauges adviser views.

The Conference Board Consumer Confidence Index decreased slightly in December to 52.5, down from 54.3 in November.

The Dow Jones Industrial Average closed at 11,573.49 on the last trading day before Christmas. That's up 10.6 percent from a year ago. And 37.5% from two years ago.

With low interest rates set to persist, yield will become the all-encompassing priority for investors in 2011, prompting them to move out of government bonds and cash back into equities, corporate bonds and real estate, Aberdeen Asset Management predicts.