The trustees of the $36 million John Hancock World Bond Fund have proposed merging the fund into the $1.1 billion John Hancock Strategic Income Fund. If approved by a shareholder vote on Feb. 10, the merger would occur on Feb. 19. The World Bond Fund's trustees believe that the broader investment mandate of the Strategic Income Fund could provide shareholders with the ability to participate in foreign bond investments without being as vulnerable to potential downturns overseas, John Hancock Funds said in a statement. The Strategic Income Fund's flexible strategy permits it to invest in high yield U.S. corporate bonds, U.S. government bonds as well as foreign bonds. This more diversified approach can both reduce volatility and permit the fund to seek opportunities in the strongest sectors at any time.
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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.
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Terri Kallsen will precede him next year as chair of the Board of Directors; Seay will take over that role in 2027.
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The popular industry recruiting and retention barometer provided another window into the challenges facing LPL Financial with its latest major acquisition.
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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.
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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.
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The accusations led to the end of 16 years at the firm.
July 15