Money Management Executive Latest News

Fidelity Investments is offering its Fidelity Personal Retirement Annuity on the platform of managed accounts provider FundQuest. Thus, the low-cost variable annuity will be available to investors through fee-based advisers, marking the first time Fidelity has worked with a turnkey asset management firm.

Citing modest improvement in the economy and shipping volumes, Federal Express will resume its matches to employees’ 401(k) plans and resume merit pay increases up to 2%, starting Jan. 1.

U.S. District Court Judge Paul Gardephe ordered Reserve Funds to repay the remaining $3.5 billion remaining in the Primary Fund, minus the $83.5 million the company is setting aside for legal expenses, to investors. The money will be paid on a pro rata basis.

Wirehouse advisors are increasingly shunning separate account programs in which securities are directly held in favor of other types of managed accounts that use mutual funds, exchange-traded funds, annuities or other professionally managed securities because they find the latter gives them more flexibility to control their clients' assets, according to a new report from Cerulli Associates.

Dumas, Leeson, Doucet Join Putnam DC Team

DOL Drops Controversial Advice Rule

NEW YORK - Investors and money managers looking to diversify their portfolios by getting into commodities and commodity exchange-traded funds should keep in mind the volatile nature of these products, as well as the wide range of possible risks, experts say.

Two college-savings companies are borrowing a page from the consumer cash-back loyalty playbook, offering customers rebates on services including refinancing mortgages or opening online bank accounts. Futuretrust, a unit of Destination Maternity Corp., and Upromise Investments have partnered with a series of other financial services companies to offer rebates that can be swept into section 529 college-savings plans.

The financial services industry has been pulling in solid profits lately, but experts say firms should be mindful about how they dole out year-end bonuses and to keep the focus on rewarding long-term performance.

The Reserve announced that it is making its third distribution, of $200 million, to shareholders of the Reserve International Liquidity Fund.