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Allianz will still own about 5% percent of the company, worth approximately $464 million.

A federal judge has declared that Fidelity Investments and the American unit of ABB, Inc. violated federal laws by making pension holders pay excessive 401(k) plan fees, and has ordered the defendants to pay $36.9 million in damages.

For some Dow component stocks, the first three months of the year were forgettable. Here’s an interactive slide show featuring the 5 worst-performing Dow stocks so far this year.

An arbitration panel has ordered Stifel Nicholas & Co. to pay $70,000 out of a more than $7 million claim brought against the firm by Wachovia Securities for allegedly unfairly raiding one of its Oklahoma offices.

As Morgan Stanley finishes integrating its brokerage joint venture with Citigroup Inc. and considers spending $10 billion to buy the whole business years ahead of plan, investors are anxiously awaiting signs that the long-promised profit machine will finally start to purr.

The Dow Jones Industrial Average lost 64.94 points to close at 13,199.55 Tuesday as investors digested the release of minutes from the Fed’s latest policy-setting meeting in March.

Milwaukee, Wisc.-based CliftonLarsonAllen Wealth Advisors has teamed up with Academy Asset Management, a Philadelphia, Pa.-based investment advisor to launch Innovator Management LLC, purveyor of the Innovator Matrix income Fund.

The independent broker-dealer is betting that grouping women by life events, not their ages, is the better way to reach them.

A federal judge has declared that Fidelity Investments and the American unit of ABB, Inc. violated federal laws by making pension holders pay excessive 401(k) plan fees, and has ordered the defendants to pay $36.9 million in damages.

Independent mutual fund service provider Ultimus Fund Solutions, LLC has hired Kirk Littleton as director of business development to help the company double its business within the next seven years.