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.
Jess Polito of Turkey Hill Management says she believes her firm is the only M&A advisory firm that exclusively uses retainer fees, rather than commissions.
Proceeds from the sale of Stifel Independent Advisors, aligned with declining litigation costs, helped drive firm-wide revenue to its second-highest level on record.
Adam Cox led the wealth management division of a regional bank for 10 years. His lack of an ownership stake in the business he'd spent so much time building eventually drove him to seek independence.
A consulting and M&A advisory firm presented six prospective sellers to 17 buyers, with striking results for any advisory teams tapping into a frothy M&A market.
Ron Kruszewski led Stifel through a year that saw record revenue and strong advisor recruiting, but also a string of legal setbacks.
A three-judge panel on the Fourth Circuit Appeals agrees with Merrill that its deferred compensation policies are a bonus used to reward brokers for loyalty to the firm.
