Subject Root Tag

Bank of America Merrill Lynch has hired UBS financial Advisor Christopher Bollenbach to its Century City, Calif. office.

Assets flowed out of ETFs in May, the first time flows have reversed direction since August 2010, according to State Street Global Advisors, which just released its latest Snapshot report tracking ETF funds.

UBS Wealth Management Americas has hired financial advisor David Mattia from Convergent Wealth Advisors to serve in its Rochester, N.Y. office.

Rule changes brought on by the Dodd-Frank Wall Street Reform Act are expected to produce the most change in the way trading in contracts involving interest-rate commitments.

The Investment Company Institute has asked the Department of Labor’s Employee Benefits Security Administration to make electronic delivery the default method of communicating with 401(k) plan participants, unless a shareholder expressly asks to receive paper delivery.

Following passage of a new state law aimed at assuaging investor fears of bankruptcy, the city of Ecorse next week will sell $9.3 million of financial recovery bonds, making it one of Michigan’s only municipalities to enter the bond market while under state-controlled receivership.

When the Build America Bond program ended there were two schools of thought. One argued that BABs would become an orphan class, with prices in the secondary market suffering from illiquidity. Another group thought there would be some scarcity value to the product and they would appreciate in value.

Giant financial institutions and wirehouses that spent fortunes attracting and retaining top-producing brokers and wealth managers over the past few years may be about to get socked with a big wave of departures this year and, especially, in 2012.

Banks appeared to be gaining the upper hand in their battle against retailers to delay pending interchange fee caps, but the fight was far from over.

Morgan Stanley Smith Barney plans to continue to trim underperformers from its financial advisor force in addition to the 300 positions that it severed in the first quarter, a spokesperson for the firm confirmed on Tuesday.

Giant financial institutions and wirehouses that spent fortunes attracting and retaining top-producing brokers and wealth managers over the past few years may be about to get socked with a big wave of departures this year and, especially, in 2012.

Former Morgan Stanley Smith Barney Complex Manager and Senior Vice President Frank LaRosa’s public records have been updated with details of an investigation into alleged spending violations following his sudden discharge from the firm in May.

A new report from MetLife this week suggests that financial advisors need to do a better job of educating their clients about the importance of managing their emotions as well as their spending and investing behavior during and close to retirement just as they did -- presumably -- when they were younger and saving up for their golden years.

Jefferies Group this week tapped Clifford Lanier as its new managing director and head of fixed income cross product sales.

A former employee pleaded guilty Monday in federal court to helping Bernie Madoff create false records for investors.

Bank of America Merrill Lynch has hired Morgan Stanley Smith Barney financial advisors Matt Burton and John Cate to its Carmel, Ind. office.

Forget ATM machines. Financial institutions that want to stay competitive are going to have to work the phones if they want to hang on to their customers in the future. That is to say, they’ll have to make their services accessible by smartphone.

Credit Suisse Asset Management has re-launched the Credit Suisse Floating Rate High Income Fund, previously known as the Credit Suisse High Income Fund.

Peter Drake, vice president of retirement and economic research at Fidelity Investments Canada, spoke of five retirement risks in a speech Monday at the Canadian Institute of Financial Planners’ annual conference in Ottawa.

State Street Corp. this week said it will roll out a new mobile application for executive-level portfolio and fund managers' iPads in the fall, giving clients real-time access to portfolio and risk exposure data on their beloved mobile devices.