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Fidelity Investments has promoted Derek L. Young from chief investment officer to president of the asset allocation division. He succeeds Boyce L. Greer, who recently became head of institutional investments for Fidelity Asset Management and vice chairman of Pyramis Global Advisors. Young now reports to Greer.

Despite arguments that retirees should be exposed to equities in order to bring enough growth in their portfolios to last throughout their retirement, Morningstar’s president of the investment management division, Peng Chen, argues in a new article that retirement portfolios must include a conservative bent that includes longevity-insurance products.

Private equity firm Warburg Pincus has acquired a majority stake in The Mutual Fund Store as well as a minority stake in Summit Partners, which invested in The Mutual Fund Store in 2006.

Janus has launched the Janus Asia Equity Fund, which aims to deliver long-term growth by investing in both developed and emerging markets in Asia, ex-Japan.

The Securities and Exchange Commission is considering requiring money market funds to set aside 1% to 3% of their assets and lifting the $1 net asset value, sources with knowledge of the discussions told Bloomberg News. The SEC may require any fund that did not set aside the capital buffer to revert to a floating NAV within 60 days.

Organization and communication are key components of both how a financial advisory firm should be run and the work that firm does for its clients, according to Grant Rawdin, president and chief executive officer of Wescott Financial Advisory Group, which has offices in Philadelphia, Miami, Boca Raton and Washington, D.C.

The Securities and Exchange Commission voted unanimously Tuesday to require large traders to register and to share more information. The rule, yet another measure in response to the Flash Crash of May 2010, will take effect in 60 days, with traders given an additional two months to begin registering.

No one wants the kind of panic that nearly ensued when the Reserve Primary Fund broke the buck on Sept. 15, 2008. In the three days following, there was a near-run on money market funds, with $169 billion in redemptions.

European hedge fund advisors will soon be faced with the same challenges-and requirements-as their U.S. peers.

idelity Investments has named Scott Couto as the new president of its Financial Advisor Solutions unit, where he will oversee the firm's product suite, investment consulting services, product analysis and marketing endeavors.