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Bob Ellis, former president of Novarica, will develop an academic program on finance and investing for the school.

Merrill Edge hopes to crowd out Fidelty and Schwab by not paying advisers brokerage fees, only for referrals.

A two-year extension to the Build America Bonds program, as well as extensions to a handful of other bond provisions set to expire at the end of the year, remain in legislative limbo as Senate Democratic leaders this week continue attempts to produce a tax bill that they can pass.

Kelleher was previously a managing partner and one of three founders of Sowood Capital Management, a multi-strategy hedge fund seeded by Harvard Management Company in 2004.Prior to founding Sowood, Kelleher spent eight years at Harvard Management.

Citi Capital Advisors, Citigroup’s alternative asset management platform, may seek $1.5 billion for private equity this year and $750 million for hedge funds, and an additional $1 billion of fundraising for hedge funds is targeted next year, this person said.

Simply put, experts respond, what goes down must come up. Florida was one of the first states to feel the pain of the crisis, and most analysts and private-equity groups see a bottoming out in the real estate and banking markets happening there before it occurs in similarly troubled states such as Arizona, California and Nevada, or in most of the other states in the Southeast.

The conference committee made critical changes to the regulatory reform bill in its first substantive week of work, but the hardest decisions are still ahead.

The big three credit rating agencies have long made the disclaimer that investors should not use ratings as a substitute for independent judgment. Now regulators want banks to prove they aren't doing that.

American Banker's front-page story lays out the details of how the financial regulatory reform bill, now at a critical juncture in House-Senate conference committee, would change the banking and retail investment management industries: http://www.americanbanker.com/issues/175_117/senate-financial-reform-1021072-1.html

Citigroup Inc. plans to raise more than $3 billion for its private-equity and hedge funds, a person familiar with the matter said Friday.

Despite the resistance of small employers, the U.S. Chamber of Commerce and the mutual fund industry in general, legislation to require companies with 10 employees or more to provide employees with a seamless lifetime savings plan through an Automatic IRA, is definitely gaining steam.

Is it possible the media has overhyped the interest level in conversions? Bank of America recently reported that its first quarter Roth IRA conversions surged beyond expectations (see MME 5/10/10). Earlier this year, MME reported that while Roth IRA conversions had the potential to put $3 trillion in play, some fund companies were treating this opportunity merely as a way to reconnect with clients to speak with them in a meaningful way about their retirement planning and tax situation.

On Friday, the New York-based company announced plans to acquire I(3)Wealth Advisors of Toronto, its first wealth management acquisition in Canada.

Wirehouses and regionals nab financial advisors and veteran executives.

The distinction between accumulation and distribution is the key to your clients’ understanding target date funds.

Currently in its pilot phase, the new software could be available to all of its advisors in August.

Advisors cite lack of interest and overly-complicated analysis as reasons for not discussing potential benefits of new rules.

The migration of advisors continues, as RBC Wealth Management hired two from UBS to expand in Portland, Ore.

While April’s sales couldn’t compete with March’s rocketing success, quarterly fees buoyed overall performance.

House and Senate conferees meeting to hammer out a financial regulatory reform bill appear to have reached an agreement that would allow the Municipal Securities Rulemaking Board to regulate financial advisers and other market intermediaries.