Money Management Executive Latest News

Jackson National Life Insurance has expanded the sub-accounts available for its variable annuities and variable universal life products with the addition of six of the funds in the American Funds Insurance Series.

Ameriprise Financial has put the finishing touches on its nearly $1 billion purchase of Bank of America’s long-term asset management business Columbia Management. The original agreement dates back to last September.

Working within existing regulations for 401(k)s and other defined contribution plans, Nationwide Financial Services is proposing 401KIncome, a new choice for workplace savings that includes an annuity option.

Putnam Investments has appointed Kelly Marshall as head of investment product management.

With the fresh spring breeze may come a breath of fresh air for The Hartford Financial Services Group Inc., which this week reported a first-quarter profit and improved investment results. This is particularly good news for the insurer, which earlier this month repaid $3.4 billion in Troubled Asset Relief Funds.

Bank of America’s U.S. Trust unit is embarking on a new advertising campaign aimed at ultra-high-net-worth individuals. The “What Is Worth?” campaign is an attempt to demonstrate to potential clients U.S. Trust expertise in managing both their tangible and intangible assets.

WASHINGTON -- The Retirement Savings Project, a leading policy research group backed by The Brookings Institution, The Heritage Foundation and Georgetown University, and affiliated with FINRA and the AARP, is advocating new approaches for defined contribution plans, Social Security and tax policies to insure Americans' retirement future.

It's an unmistakable market reality: asset managers have recognized they can no longer be all things to all people. They have come to the realization that they cannot always develop every aspect of the ever-broadening range of increasingly complex portfolio products that their clients demand. As a result, more and more are leveraging their internal capabilities in conjunction with external niche-market expertise by implementing a manager-of-managers (MoM) investment model.

If you're reading this on your cell phone, congratulations. You are one of the 33% of Americans using a cell phone or smart phone to access the Internet. If you are reading this using an e-reader device, yours is one of the 2.5 million devices sold in 2010-more than twice the number of units sold in 2009. If you're using a smart phone with a touch screen, you are one of the 23.8 million subscribers today-a 159% increase over 2009. If you're reading this online, you are already among the majority of Americans demanding electronic choices for how they receive information and do business.

Over-the-counter derivatives, once known for their obscurity, are center stage in the Securities and Exchange Commission's lawsuit against Goldman Sachs and President Obama's financial reforms. When values went south in 2007 and 2008, an inability to properly judge and react to the risks contributed to the bankruptcy of Lehman Brothers and the near-failure of AIG.