Subject Root Tag

Herbert Allison Jr., the onetime president of Merrill Lynch & Co. who oversaw the U.S. government’s bank-bailout program following the financial crisis that led to his former company becoming a unit of Bank of America Corp., has died. He was 69.

USAA Investments has added two new mutual funds to its lineup.

Pimco’s Bill Gross added to holdings of Treasuries in his flagship fund in June while betting incorrectly on gains in U.S. inflation- indexed securities during the first half of the year.

Bond funds netted redemptions of $59 billion (excluding exchange-traded funds) last month, according to Strategic Insight.

The Financial Industry Regulatory Authority fined four firms $106,000 and fined and suspended an individual for municipal securities rule violations.

Exchange-traded funds that made bets on the gold sector were punished in the first half of the year with poor returns and redemptions amid a two-year low in price for the precious metal.

When Wells Fargo Advisors held a conference to discuss elder financial abuse, it seemed at times like nearly every one of the 200 people in attendance was personally acquainted with a family member or friend who has been victimized. But Danny Ludeman, the CEO of Wells Fargo Advisors, write that perhaps that’s not surprising, given the scope of the crime and the rate at which it’s growing.

Exchange-traded fund risks and the use of ETFs in portfolio construction were ranked as the top two topics that advisors understood the best, according to new findings from Cerulli Associates.

To put it bluntly, James Gandolfini’s estate is a mess. His faulty estate planning provides a good lesson of the types of complications that can arise for clients who rely heavily on a will.

Eaton Vance has hired Vincent Leon as director of offshore sales, reporting to John Moninger, managing director, retail sales. Leon hails from 3D Asset Management where he served as national sales manager.

Here’s a sampling of bank reps who were recently promoted or moved to new organizations to assume roles of greater responsibility.

AdvisorShares is launching the AdvisorShares Athena International Bear ETF (HDGI) on July 19. HDGI is subadvised by Greenwood Village, Colo.-based AthenaInvest Advisors.

Bloomfield, Mich.-based Flexible Plan Investments has launched The Gold Bullion Strategy Fund (QGLDX), which the firm is touting as the industry’s first gold bullion fund offered to retail investors through a mutual fund product

Readers weigh in on HSBC’s decision to put its advisors on salary.

Regions Insurance opened a new office in Columbia, S.C., its first in South Carolina. The new office is the third significant addition to Regions Insurance in the last six months.

Bond funds netted redemptions of $59 billion (excluding exchange-traded funds) last month, according to Strategic Insight.

Alternative mutual fund shop Collins Capital has appointed Casey Wamsley as a director, focusing on both the mutual fund and limited partnership businesses of Collins Capital.

To help financial services firms adhere to corporate and regulatory standards when it comes to social media communciations, Actiance unveiled review and approval capabilities to its Socialite social-media management program.

USAA Investments has added two new mutual funds to its lineup.

Generating referrals is not a numbers game. Referral Coach Bill Cates says that it is better to get one great referral than a litany of names.