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OppenheimerFunds today officially closed the book on its acquisition of SteelPath Capital Management and SteelPath Fund Advisors.

Gemini Fund Services has announced that its Two Roads Shared Trust, which launched in April, will soon include alternative mutual funds from Alternative Road Investment Advisers, Belvedere Asset Management, and LJM Funds Management.

Morgan Stanley Wealth Management has added eight financial advisors from rival firms Merrill Lynch and Barclays.

“[A] segment of wealth managers appear to live in denial, clinging to investment methodologies that have patently failed twice over the past decade and are likely to fall short again,” the authors of a white paper accompanying the survey results wrote.

With yields low and the uncertainty of retirement looming in the minds of Baby Boomers and current retirees, maximizing social security benefits become ever-more important. Unfortunately not all retirees are doing that.

The new platform will allow advisors to spend less time managing regulatory and compliance issues, and more time growing their businesses.

Industry wide, however, annuity sales dropped slightly in the third quarter, according to a report by Morningstar and Beacon.

House Minority Leader Nancy Pelosi, D-Calif., said she would try to use a procedure known as a discharge petition to bring a Senate-passed bill for extending the middle-class tax cuts to the floor of the House.

CFOs in the U.S. remain uncertain about the future of the economy and their own businesses, according to a new survey.

House Republicans, rejecting President Obama’s demand for higher tax rates, countered with a $2.2 trillion deficit-cutting plan that would trim Medicare and Social Security and cap tax deductions for top earners.

For the better part of two years, Mary Schapiro told anyone who would listen that the federal government could not afford another bailout and that the money market mutual fund industry would have to backstop itself.

The fiscal cliff. Deteriorating fundamentals. Volatility. Is the market about to fall? There is always uncertainty, but the question remains: How will you keep your clients happy when the next bear market comes?

“We always have an opinion,” said James Odorczuk. “That’s what clients want. You can’t just ‘set it and forget it.’ A lot of clients are unhappy with a passive investment style.”

Phoenix -- David Blitzer, managing director, S&P 500 Dow Jones Indices, took home the lifetime achievement award at The William Sharpe Indexing Achievement Awards Ceremony held today at IMN’s newly-named Global Indexing & ETFs conference (formerly the Super Bowl of Indexing Conference) in sunny Phoenix, AZ.

The NASDAQ OMX Group has launched the NASDAQ Global Index Family, which represents more than 98% of the global equity investable marketplace and will result in the development of 24,000 indexes.

MountainView Securities, a broker/dealer focused on the fixed income markets, has hired Amber Lindsay as Managing Director of Fixed Income Sales.

The New York City based wealth advisory firm appointed Lyle LaMothe as Non-Executive Chairman of the board and Greg Franks as a managing partner and president. Chris Lappas joined the firm as the chief operating officer.

For the better part of two years, Mary Schapiro told anyone who would listen that the federal government could not afford another bailout and that the money market mutual fund industry would have to backstop itself.

Ben Johnson, who has led Morningstar’s passive fund research in Europe and Asia, has been named director of passive fund research globally.

Few Wall Street professionals were thrilled about the implementation of Dodd-Frank and other forms of regulation. But it seems to have been a blessing for those who specialize in compliance.