Mutual funds

In an almost immediate response, the industry created a new T share class, which replaces high, upfront commissions with trailing commissions.

Pimco's $1.5 trillion in assets under management are down 25% from a high of $2 trillion in the first quarter of 2013.

The year-old automated advice service is revealing some new ways advisers use robos — and it's quelling some big fears.

Demand for ETFs soars; costs dominate adviser concerns, plus other key trends in portfolio management.

"We're built to take advantage of economies of scale in this business," says Vanguard Chief Executive Officer Bill McNabb.

Perspectives on the state of asset management from industry leaders and experts.

ETFs are product of choice as 83% of advisers say they currently hold them in their portfolios or are recommending them to clients in the future, according to a recent survey.

The regulator says that it issued a notice in 2009 to broker-dealers regarding the risks and complexities of nontraditional ETFs. FINRA says Oppenheimer failed to implement these policies.

Investors poured an estimated $144 million into the Janus Global Unconstrained Bond Fund in May.

The proliferation of asset management firms and the growth of individual funds have forced managers to maintain too many positions and undermined returns said AllianceBernstein CEO Peter Kraus.