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BlackRock Inc., the world’s biggest money manager, said fourth-quarter earnings increased 24 percent as its exchange-traded funds drew client deposits and assets rose.

Bank of America Corp. led decliners in the Dow Jones Industrial Average after reporting profit dropped 63 percent, hurt by shrinking revenue and more costs from cleaning up bad mortgages.

Nasdaq OMX Group said it hired Bradley J. Peterson as its global chief information officer. Peterson has served in similar capacities at both Charles Schwab & Co. and eBay.

Nasdaq OMX Group said it hired Bradley J. Peterson as its global chief information officer.

When people hear “financial planning” or “retirement income,” they tune out. Try using “lifestyle design” instead to get their attention.

After four consecutive weeks of negative flows, mutual funds finally enjoyed a week of stellar sales.

“This is the first significant change to our grid during my almost 20 year tenure at Raymond James,” Tash Elwyn, president of the firm’s Private Client Group, said. “With this new grid we have achieved our goal of continuing to offer a very competitive payout within an environment and culture at Raymond James that’s unique in that we treat our advisors with respect.”

The Internal Revenue Service is providing information on some of the retirement plan provisions of the fiscal cliff deal that was signed into law earlier this month.

DoubleLine Capital has unveiled its latest equity funds just a few weeks after hiring away two portfolio managers from TCW Group.

A Securities and Exchange Commission member said Wednesday that many improvements to the municipal securities market can be made by the SEC without seeking regulatory authority over municipal issuers from Congress.