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Industry pulls in new money for the third consecutive quarter

The third-quarter performance of small and midsize banks in California—long a bellwether for the nation's community institutions—has given rise to some optimism.

Plagued by bad press and a struggling stock, Bank of America tried Tuesday to buy some time by erring on the side of disclosure.

Its never too early to begin helping clients prepare for the 2011 tax season. It will become even more so as the Bush tax cuts come to an end on Dec. 31.

Investors with at least $100,000 to invest are sorely in need of guidance on fixed income risk, asset allocation and retirement readiness, MFS Investment Management found in a survey of 613 investors.

Aviva Investors has launched the Aviva Investors Core Aggregate Fixed Income and the Aviva Investors High Yield Bond funds.

“Advisors need systems in order to accomplish their goals, whether you’re a large firm or a one-man team,” said Craig Snyder, one of LPL's top managers. “You need to track your activity so you can see what else you need to do to maximize your return on investment.”

Matthews International Capital Management has launched an umbrella UCITS in Luxembourg comprised of three Asia-focused funds: Asia Dividend Fund, Pacific Tiger Fund and China Fund. It is the first time investors outside of the U.S. have had access to Matthews funds.

Americans’ financial security sentiments inched up in October for the first time in six months, increasing by 0.7 points to 64.4, the Country Financial Security Index shows.

Acquisition broadens Genworth’s wealth management platform with alternative investments, including hedge funds.

Genworth Financial has agreed to pay $35 million, plus additional performance-based payments, to acquire alternative investments platform provider Altegris. The deal is expected to close at the end of the year.

Just 11.2% of private-sector establishments offer health benefits to early retirees.

Whereas a year ago, 64% of American workers expected to work at least another three years to recoup the losses taken in their retirement accounts as a result of the financial crisis, 80% now are planning to remain in the workforce another three years to age 70 or older.

The global wealth and investment management group, which includes Merrill Lynch Global Wealth Management, U.S. Trust and BofA’s retirement and philanthropic services unit, saw fees decline 6.4% to $4.07 billion from the previous quarter.

The streamlining service handles sales of restricted shares.

Three of the new funds will invest in large-cap stocks.

Four former Financial Industry Regulatory Authority officials who left the agency in 2008 each received between $2.74 million and $4.43 million in reportable compensation and benefits that year, according to the latest form the nonprofit self-regulator filed with the Internal Revenue Service.

Russell Investments and Parametric Portfolio Associates have pooled their resources in order to offer a new joint index that will be a “vital metric for investment decisions” in the future, the two Washington-based firms said Monday. The new ...

Daniel Mendonça Barros was named CEO of the UBS broker-dealer and head of the UBS securities business in Brazil, effective when UBS' acquisition of Link Investimentos closes, expected in the fourth quarter.

Report says technical wherewithal more important than ever as industry bounces back from financial crisis.