News Feed

Asset allocation isn’t just about performance, it’s all about the client, advisors said in a panel discussion at the Money Management Institute Fall Solutions conference Thursday.

Morgan Stanley reported on Thursday that its global wealth management business saw it pre-tax income fall to $239 million, down from $356 million one year ago, and net revenue of $3.34 billion, up from $3.23 billion in the third quarter of 2011, as the firm closed its acquisition of the next stake in the Smith Barney joint venture.

In a financial services version of Woodstock 2012, more than a dozen exchange-trade fund providers including iShares, Vanguard and State Street have come together in an attempt to make ETFs as much a part of retail investors’ lexicon as mutual funds.

Greg Smith, the former Goldman Sachs Group Inc. salesman who publicly accused the firm of ripping off its clients, was denied a raise and a promotion in the weeks before he resigned in March, documents provided by Goldman show.

Royal Bank of Canada will probably miss its 2015 target of C$2 billion ($2 billion) in annual earnings from asset management because of low interest rates, executive George Lewis said.

Think target-date funds are the default choice du jour for define contribution plan sponsors? Think again.

Curian, Putnam Investments and the John Hancock Funds have won top honors in the 10th Annual NOVA Awards, which honor outstanding leadership and achievement in mutual fund operations and marketing.

Riverbridge Partners, which recently agreed to a deal with Northhill Capital, is making a play for the retail space with its new partner.

Kevin Keller, the CEO of the CFP Board, discusses what it will take to attract advisors to become CFPs and dispels some of the biggest myths and misconceptions about the credentials.

Could the 2012 holiday shopping season be the best one since the recession? Planners seeking clues to the performance of the U.S. retail sector should consider an industry group’s projection that sales for the November-December time period will increase 4.1% this year.