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J.P. Morgan Asset Management has hired Richard Gray as managing director and institutional client advisor, based in New York and focused primarily on corporate defined benefit plans and public fund retirement plan clients. This is a new position reporting to Andrea Lisher, East Team Lead for Institutional Advisory Sales at J.P. Morgan Asset Management.

Banks looking to boost their profits are missing the boat on a big opportunity: marketing investment and insurance products to mass-affluent households.

Morningstar, Inc. has launched a new alternative investments center as part of several enhancements to MorningstarAdvisor.com, a free website that provides advisors with practice management information, investment trends, and industry insights.

The advisor allegedly used client money to buy a $3.35 million beach resort being developed by a relative.

Matrix Financial Solutions has expanded the functionality of TrueOpen, its core mutual fund trading platform, to address growing demands from retirement plan providers and advisors.

The odds of being single at some point during retirement are high and present unique challenges for both “ever single” retirees who never married and for those who become “suddenly single” in retirement due to divorce or death of a spouse. In fact, 43 percent of Americans age 65 and older are single due to divorce, having never married, or the death of a partner.

Seoul, Korea-based Mirae Asset Global Investments today unveiled its Global Dynamic Bond Fund, which will bet on sovereign, quasi-sovereign and corporate bonds from issuers in both emerging and developed markets, for U.S. investors.

The new process will be partially electronic, the proposal suggests, to eliminate current deficiencies and delays.

More and more often, RIAs are outsourcing certain functions so they can spend more time with clients and stay competitive, according to the firm.

Steve Sanduski, The Prosperous Advisor, offers up five suggestions for financial advisors who have successfully grown their business for years but now find themselves stuck and unable to achieve the level of success they truly desire.

With investors around the globe still nervous about the potential for more stock market volatility ahead, BlackRock chief equity strategist Bob Doll notes that it’s necessary to think globally to understand where markets are headed.

AXA Equitable has hired Amy Radin to the new position of senior executive vice president and chief marketing officer.

Wasatch Funds has launched what it touts as “one of the few no-load open-end mutual funds focused exclusively on frontier and smaller emerging market countries,” including Africa and Southeast Asia.

Pyxis Capital, formerly known as Highland Funds Asset Management, L.P., has broken away from its parent, Highland Capital Management, L.P., and taken on a new moniker and a new approach to creating alternative mutual funds.

Jackson National Life Insurance Company, a purveyor of variable annuities, is looking to offer its advisors and their retail clients access to alternative investments.

Russell Investments has introduced a series of indexes designed to allow fund managers to control volatility in their portfolios.

A new investment management shop has opened in Palm Beach, Fla., dubbed Crest Investment Partners LLC. The partnership is a subsidiary of Cypress Capital Group, itself a $830 million boutique trust and investment services firm.

Nasdaq OMX and risk analytics developer Axioma have launched a family of indexes that will give investors exposure to commodity spot prices, through the use of stocks.

Investment Technology Group said it released an algorithm that will capture matching orders in the opening auctions of the New York Stock Exchange and Nasdaq Stock Market.

Goldman Sachs said it expanded its suite of algorithms for electronic trading in Brazil, as a part of a “firm-wide focus’’ on the South America market.