Subject Root Tag

U.S. Treasury Secretary Timothy Geithner yesterday urged the Securities and Exchange Commission to pursue new rules for money-market mutual funds, triggering fresh opposition from industry leaders who had beaten back similar proposals and are pursuing a weaker overhaul.

The Investment Company Institute and the chairman of the ICI Money Market Working Group, William McNabb, who is also the chief executive officer of Vanguard, are speaking out against the Financial Stability Oversight Council’s meeting yesterday to discuss money market fund regulation.

Wells Fargo Advisors has promoted David Kowach to serve as president of the firm’s Private Client Group.

Some planners join boards. Others volunteer for local causes. Sun Group Wealth Partners in Irvine, Calif., decided to build bridges with its community by funding memberships for about 1,000 families of kids with special needs like autism to a unique educational museum called Pretend City.

Prudential Retirement has strengthened its stable value team with the appointment of Michael Davis as its new head of stable value.

Many talented individuals are getting hired on Wall Street. But while it is great to hear that others are doing well, the first thing every job seeker wants to know is this: "How can I be one of them?"

In fact, a couple age 65 might need $387,000 saved in order to be confident of covering their health care costs in retirement, not including outlays for long-term care.

One could only imagine what George Jefferson — the wise-cracking character who was “movin’ on up” on the 1970's TV hit, The Jeffersons — would have said about this predicament. The body of actor Sherman Hemsley, who played George Jefferson, has been kept on ice for the last 3 1/2 months.

The Schwab IMPACT 2012 Conference opened Tuesday in Chicago. The annual gathering of independent investment advisors, now in its 21st year, will go on through Friday bringing together the industry’s best and brightest advisors.

An advisory committee organized under the Treasury Department on Tuesday voted unanimously to move forward with a set of proposed rules intended to stabilize money-market funds and prevent a run on assets similar to the jolt the market experienced during the financial collapse of 2008 and 2009.

Financial services companies that cater to advisors have a lot of room for improvement—especially insurance companies.

Since the implementation of a new set of registration requirements under the Dodd-Frank financial reform bill, the regulatory landscape for investment advisors has shifted dramatically, according to data compiled by the SEC's Division of Investment Management.

Change is in the air for money market funds and this time it looks like proposed reforms, in whatever form they may take, are going to stick.

“The financial advisor is critical, as he or she has the job of opening the estate and trust accounts," Peter Lang wrote in a white paper. "This can only be done once the will has been probated, the executor has been appointed, and a Tax Identification Number has been issued by the IRS.”

The Board of Trustees of the Praxis Core Stock Fund has decided to fold it into the Praxis Growth Index Fund citing poor performance on the part of the Stock fund, according to a recent Securities and Exchange Commission filing.

Thirty-seven percent of investors say they are now refraining from investing in stocks because of current economic or market conditions, and as many as 76% of investors say they are only somewhat or not at all willing to take on more risk to obtain a potentially higher yield.

Invesco Distributors, the US distributor for Invesco Ltd.'s retail mutual funds, exchange-traded funds and institutional money market funds, has launched an iPad app for advisors who work with defined contribution retirement plans.

Robert Hagstrom has joined Legg Mason Investment Counsel as Chief Investment Strategist, responsible for communicating Legg Mason Investment Counsel’s strategies and market views.

Equities stand to benefit from a boost in the housing market and stabilization in Europe while fixed income could lag come 2013.

Bank of America Corp.’s commercial customers are already reacting to the “fiscal cliff” looming over the U.S. budget by putting off purchases, Chief Executive Officer Brian T. Moynihan said.