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Near-retirees and retirees are very uncertain about their future, and many are afraid they will live in poverty, a survey of more than 300 Baby Boomers by Financial Engines found.

The Bloomberg Consumer Comfort Index fell to -49.4 in the week ended May 15, a nine-month low reflecting a pessimistic outlook among consumers as the cost of fuel and groceries continues to increase.

Russell Investments and Axioma have launched a series of long-only large- and small-cap factor indexes designed to help investors better manage their portfolio’s exposure to five risk factors.

The Financial Industry Regulatory Authority fined Chicago-based Nuveen Investments $3 million for creating and distributing misleading brochures to promote the sale of auction rate preferred securities.

J.P. Morgan Asset Management has hired Benji Baer as managing director and chief marketing officer, reporting to Richard Chambers, chief marketing officer for J.P. Morgan Investment Management Americas. Baer will also serve as a member of the senior management team for Michael Falcon, head of retirement for J.P. Morgan Asset Management.

Covestor realizes it didn’t do a good job recruiting female model managers in the past and it wants to make a change- starting now.

Some ideas are transcendent. Humankind’s inability to learn from past mistakes—often reappearing in cumulatively more costly iterations as memories of yesterday’s blunders fade—is an oft-repeated theme. Scholars confirm what historical anecdotes reveal.

On Monday Bank of America Merrill Lynch announced that Cathy Bolz was hired to the Institutional Client Relationships leadership team as an Executive Client Relationship Manager, reporting to Kevin Crain.

They don't have the big-chip cache of the large-cap funds or the diamond-in-the-rough promise of the small caps, but mid-cap mutual funds have consistently outperformed both of those asset classes over the past decade and there's no reason to think that trend will end anytime soon.

Continuing a comeback after a difficult 2010, annuity sales through banks topped $4 billion in March to reach their highest level since exactly two years earlier, according to research firm Kehrer-LIMRA.