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In another sign that the struggling U.S. economy is facing tough headwinds, the U.S. Census Bureau has just released a report showing that home ownership -- a key foundation of the “American Dream" -- has fallen to its lowest level since 1998.

Consumer confidence, as measured by the Discover U.S. Spending Monitor, fell for the second straight month in July, to its lowest level in two years. Since January, the monitor, based on a daily poll of 8,200 consumers, has dropped 11 points, to 82.7.

Envestnet’s platform services agreement with FundQuest 18 months ago has gone well, apparently.

Even though the government reached an agreement to raise the debt ceiling, 54% of Americans surveyed said the debate over the debt ceiling has made them feel less confident in the economy, the RBC Consumer Outlook Index for August found.

DST Systems Reviews Strategic OptionsAugust 5, 2011Chris KentourisAfter insisting it wants to stay independent, DST Systems on Friday came close to confirming it was on the block.Like what you see? Click here to sign up for Securities Technology Monitor's weekly newsletter to get the latest news and analysis that matters to the effective operation of capital markets.Last month, DST said it was not entertaining discussions with any party regarding a sale of the company and didn’t think its stock price was representative of its long-term intrinsic value. Therefore, it couldn’t entertain a takeover.But on Friday, the Kansas City, Mo. based firm which provides recordkeeping and other services to mutual funds and broker-dealers, said that it hired Bank of America Merrill Lynch and law firm Skadden, Arps, Slate, Meagher & Flom LLP to advise its board. Stinson Morrison Hecker LLP is providing legal advice.“The board of directors of DST Systems, Inc continuing its long standing practice of engaging in an ongoing review of the Company’s business plan, assets and investment portfolio,” said DST in a statement on Friday.In that same statement, DST also confirmed that it rejected a bid from Russell Glass, the founder of RDG Capital LLC, that he and two other people be added to its board. Glass said in June he made a bid to buy DST.DST’s stock dropped $2.92 a share or six percent to $45.91a share on Thursday giving the firm a market value of $2.1 billion.DST’s news on Friday followed a dismal second quarter earnings report; second quarter earnings fell 41 percent to $55.2 million from the year earlier period due to a large payment the firm received when a customer dropped its contract last year.The 2010 figure included a $58 percent termination payment. Eliminating the payment from earnings, DST’s earnings declined 14 percent to $49.4 million from $57.6 million the year earlier in large part due to a decline in the number of registered accounts it handles. Revenues declined 9 percent in the 2011 second quarter to $424.1 million.After insisting it wants to stay independent, DST Systems on Friday came close to confirming it was on the block.

Envestnet will buy FundQuest, a Boston-based TAMP specialist, for $24.4 million in cash, a deal the firm said will allow it to offer more efficient and integrated wealth management services to its clients.

Seeking U.S. backing, the Hedge Fund Standards Board in London amended its best practice guidelines to accommodate international standards. The changes strengthen disclosure and risk management practices for alternative investment funds.

Keating Capital, a pre-IPO fund, concluded its public offering, raising $86.8 million. Next, the fund plans to list its stock on Nasdaq by the end of the year.

Fund companies are insurers tend to entrust their wholesalers to manage their business independently, according to a Kasina study. In fact, 60% of asset managers fail to provide them with the tools, training or compensation tied to profitability, Kasina says.

Barack Obama has missed his chance to see a director of the new Consumer Financial Protection Bureau take office within his first term as president.