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There’s been a death in the Vanguard Family. Howard B. Schow, co-founder and chairman emeritus of PRIMECAP Management Company and longtime co-manager of several Vanguard funds, has passed away at 84 years old.

Saturna Capital Corporation, investment adviser to the Amana, Sextant, and Idaho Tax-Exempt Mutual Funds, has launched the Sextant Global High Income Fund, a flexible mandate fund which seeks high income from a globally diversified portfolio of debt and equity securities.

Steve Sanduski, The Prosperous Advisor, says that advisors who want to reach the pinnacle of their profession need to make sure the “under the hood” of their office is as excellent as the shiny exterior their clients see.

Charles Hart, who had been an independent advisor since 1982, has joined Ameriprise’s employee broker-dealer division. Hart, who managed $114 million in client assets, is now based Ameriprise's Plano, Texas, office.

FINRA is taking comments on its proposal to change the rules for its current procedures for removing complaints about advisors from a central database. But time is running out, as the comment period ends May 21.

Lincoln Financial Advisors looks to Tom LaBrie to spur business in New England.

George-Lucas-Manages-Chaos

A recovering economy has done little to change the bleak retirement that Baby Boomers see in their future.

A group of alternative mutual funds is kicking off its second annual advisor road show today in hopes of educating advisors on the benefits of alternative investing and, ultimately, winning business.

Mutual funds managed $2.5 trillion of the assets held in 401(k), 403(b), and other defined contribution plans at the end of December, up from $2.3 trillion at the end of September. Mutual funds managed 55% of DC plan assets at the end of the fourth quarter.

The usage of defined contribution plans and collective investment trusts is growing quickly, resulting in a big impact on the ways that pension holders invest for the future, according to research released by SEI.

Financial advisors are increasingly turning towards alternative investments and tactical asset allocations in response to market turbulence, according to a survey released by Curian Capital.

New York Life's Investments Group, which offers retail mutual funds through its MainStay Funds family, set new sales records for MainStay mutual funds.

Nervous money, spooked off last year by banking analyst Meredith Whitney's prediction on "60 Minutes" of widespread defaults, is now flocking back to the tax-free debt of cities, states and other public entities such as colleges and toll bridges.

Invesco says shareholders of the Invesco High Income Municipal Fund and the Invesco U.S. Mid Cap Value Fund have approved a plan to merge those funds into the Invesco Van Kampen High Yield Municipal Fund and Invesco Van Kampen American Value Fund, respectively.

The first criminal trial involving muni market executives accused of bid-rigging is scheduled to begin next week in a federal court in New York City, unless they enter into plea agreements.

In a partnership with the micro-blogging platform Twitter, Dataminr said it has developed and is launching “an early warning system” for traders, based on tweets.

It’s almost a done deal.

Chicken Little was wrong about municipal bonds and the funds that invest in them.

The Dow Jones Industrial Average fell another 130.55 points Monday to close at 12,929.59 while the Nasdaq and S&P 500 lost 33.42 points and 15.88 points, respectively.