An index-based mutual fund complex said this week that it has altered the objective of a mutual fund that invests in European interests and has adopted a new benchmark index for the fund.
Altering the objective to reflect the new index provides shareholders "with exposure to large-cap European companies, but with a more diversified number of countries and at an anticipated lower cost," said ProFunds chairman Michael Sapir.
The CFP Board promised to enhance its review processes after an investigation found major shortcomings. A new analysis of CFP data found that the problem has only gotten worse.
Terri Kallsen will precede him next year as chair of the Board of Directors; Seay will take over that role in 2027.
The popular industry recruiting and retention barometer provided another window into the challenges facing LPL Financial with its latest major acquisition.
The Wall Street powerhouse has built its wealth division in large part through big deals but is not "looking to make acquisitions just for the sake of it, " said CEO Ted Pick.
The Treasury Department and the IRS will need to roll out guidance to explain the bill's newer provisions and how they differ from earlier tax legislation.
But the Bank of America subsidiaries nonetheless reported rises in AUM and net revenue in the second quarter while adding thousands of new client relationships.
