Investments

The $1.7 billion Strategic Advisers Emerging Markets Fund has hired Acadian Asset Management as a new sub-adviser to the fund alongside Pyramis Global Advisors, according to a Securities and Exchange Commission filing.

"We provide all the tools a broker needs to thrive," said Russell Gebhard, president of Sovereign Investment Group in Houston."If the advisor is successful, it's more than likely the clients will be, too."

Cynthia Egan, head of retirement plan services at T. Rowe Price, is retiring on December 31.

After garnering over $1 billion that ended a nearly month-long, outflow pattern last week, tax-exempt money market funds were back in negative territory this week as they lost $449.9 million and total net assets settled at $269.80 billion for the week ended Sept. 17, according to The Money Fund Report, a service of iMoneyNet.com.

Investor demand outlasted the end-of-summer doldrums with robust inflows to municipal bond mutual funds. But the past week saw those flows to weekly reporting funds fall to more modest levels, $256 million in inflows for the week ended Sept. 19.

Merrill Lynch Wealth Management has decided to increase its minimum equity trade fees to $75 from $50 following a year of research on how its pricing fits the market.

Gabelli Adds Hedge Fund Vet to Alt Unit

Cynthia Egan, head of retirement plan services at T. Rowe Price, is retiring on December 31.

Pewaukee, WI-based Capital Innovations is currently prepping a fund that will bet on timber and farm-related, the Journal Sentinel reports.

Broadridge Financial Solutions has launched Broadridge Fluent, a new service that aims to significantly improve communications between financial services firms and their customers via marketing, transactional and regulatory communications.

Even as a new video has brought negative attention to Mitt Romney's campaign, a new poll finds financial advisors still think he's the best pick to lead the country.

In 2013, asset managers will face the challenges of volatile markets, ramped up regulations, increased need for capital preservation, and a general tendency towards risk aversion. Yet even in a globally compressed economy, there are pockets of underlying opportunities and under-served investors. From our friends at Ceruilli, here are trends for advisors (and their clients) to watch in 2013.

Abigail Johnson, the newly minted president of Fidelity Financial Services, the parent company of mutual fund giant Fidelity Investments, was notched at #27 in the recently published Forbes 400 List of the Richest People in America, leading all other members of the mutual fund world, including a member of her own family.

AllianceBernstein has hired two new executives for its alternative business, which the firm has targeted for expansion.

Total estimated inflows to long-term mutual funds were $6.12 billion for the week ended Wednesday, September 12, according to data from the Investment Company Institute.

For the week ended Sept. 12, investors pulled an estimated $2.75 billion from funds that invest long-term in U.S. stocks, marking the eighth consecutive week of outflows.

Total estimated inflows to long-term mutual funds were $6.12 billion for the week ended Wednesday, September 12, according to data from the Investment Company Institute.

Emerging market shop Mirae Asset Global Investments is shelving two funds from its Mirae Asset Discovery Funds trust, according to a Securities and Exchange Commission filing.

Emily Colella has joined Palmer Square Capital Management as a managing director, business development, Money Management Executive has learned.

Hatteras Funds has added Yuri Khalif as Executive Director for the Northeastern region.