Money Management Executive Latest News

Although the majority of 401(k) participants exhibited steady savings behavior in the second quarter, the number of loans and hardship withdrawals also increased, according to data from Fidelity Investments.

As part of an ongoing spate of new hires over the past few months, Bank of America Corp’s U.S. Trust added eight wealth management executives to its team on Friday in support of its ongoing expansion efforts.

WASHINGTON — An overwhelming majority of Build America Bond subsidy payments have been paid in full to BAB issuers, suggesting that concerns about offsets are dramatically overblown, according to new data on state issuers compiled by the Internal Revenue Service and prepared remarks expected to be delivered this morning by a top Treasury Department official.

Morgan Stanley Smith Barney recently snatched a million dollar team from UBS Wealth Management Americas.

Ameriprise’s two fund businesses, Columbia Management and RiverSource Investments, announced plans to merge as many as 62 funds in order to streamline their offerings.

Emerging market hedges funds has a net withdrawal of $1.5 billion in the second quarter, the second consecutive quarter that it has experienced a net capital withdrawal.

Ellyn McColgan, who left her job as head of global wealth management at Morgan Stanley in January 2009 after being in that position less than a year, has been recruited to serve on the board of directors at life insurance giant, Primerica Inc.

Only a third of advisors have a marketing plan and only a third of that group actively implements it, according to Quantuvis, a Redlands, Calif.-based practice-management consulting firm owned by Genworth.

When asked whether municipal bonds can continue their record-setting ways, one of the most common refrains from market participants is: "why not?"

WASHINGTON — A day after New Jersey settled securities fraud charges with the Securities and Exchange Commission for failing to disclose to bond investors that it was underfunding its two largest pension plans, offering documents for the state's record $2.25 billion short-term tax and revenue anticipation note deal included several pages of disclosures about the woefully underfunded retirement plans.