Money Management Executive Latest News

With many investors embracing target-date mutual funds, Americans are now on the right track with retirement savings, according to a Vanguard study.

WASHINGTON — Regulators are poised next week to start moving away from reliance on the tarnished credit rating agencies in the supervisory process, but finding other options likely will be difficult.

Charles Schwab announced on Thursday three new, low-cost bond exchange-traded funds with no online trading commissions for Schwab clients. This is in addition to the eight equity ETFs that Schwab already offers.

Lighthouse Financial Group, a New York-based prime brokerage and trading firm, has ceased trading activities as of Tuesday and is up for sale.

Union Bank of California's wealth management business has not increased its assets under management for three years, but you wouldn't know it from the unit's overall growth.

While it is a daunting challenge to attempt to distill the provisions of the 2,300-page Dodd-Frank Act into simple terms, one theme pervades nearly every aspect of the legislation: the expected breadth, depth and frequency of reporting to be required and potentially requested by regulators either ad hoc or periodically.

Citing “long sales cycles and pricing pressure,” SunGard Data Systems reported Thursday that its net loss increased to $21 million in the quarter ended June 30. A year ago, SunGard reported a net loss of $7 million.

The number of high-net-worth individuals in the top 10 U.S. metropolitan areas rose 17.5% in 2009, the highest growth rate in the last four years, according to the Capgemini 2010 U.S. Metro Wealth Index.

Bank of America Merrill Lynch has hired David Tyrie, formerly with Putnam Investments, as head of personal retirement services. He will report directly to Andy Sieg, head of retirement and philanthropic services division.

Rockefeller Financial has named Reuben Jeffery III chief executive officer.