Mutual funds

The "do it yourself" investor crowd is not exactly new. But now it has a newfound source of power. A new tool on the market from Motif Investing makes it easier than ever for individual investors to create their own ETF-like investment funds. The timing is what makes this tool potentially troubling for established mutual fund and ETF companies. Combined with an overall mistrust of the financial industry and a general populist empowerment (social media, anyone?), it could become the next disruptive change.

Southern California-based Beacon Pointe Wealth Advisors has another notch on its belt.

The 50 largest asset managers accounted for more than US$38 trillion in assets under management at the end of 2012. This is a full US$4 trillion more than the year before, even as the biggest firms in the industry continue to enlarge, according to The Cerulli Report: Global Markets 2013.

(Bloomberg) -- Bank of America Corp. will pay $39 million to settle a discrimination lawsuit brought on behalf of women employees at its Merrill Lynch unit, according to court filings.

Bloomberg -- Morgan Stanley Chief Executive Officer James Gorman said there’s almost no chance of another financial crisis like the one that endangered his firm five years ago.

Help wanted: Must have proven leadership ability, strong sales skills and big ideas.

As the mutual fund universe becomes more crowded and the strategies offered to investors become more complex, fund managers are under pressure to further differentiate themselves and their brands from the competition.

The country’s 20th-largest independent broker has a new name and a new pitch to independent advisors.

FINRA is scaling back on "supersized" fines.

Bloomberg -- A year ago, when opposition from the asset-management industry killed her plan to make money-market mutual funds safer, U.S. Securities and Exchange Commission Chairman Mary Schapiro looked to Timothy Geithner, then the Treasury Secretary, to tackle “one of the pieces of unfinished business from the financial crisis.”

Building a successful fund requires a distinguishable brand, an effective marketing strategy, and a commitment to distribution support.

Bank of America’s Merrill Lynch has capped off the summer with a round of hires from Morgan Stanley and Wells Fargo.

BNY Mellon Wealth Management has rehired a former BNY Mellon veteran to oversee the business strategy for the wealth management business and spearhead the expansion of the sales force, the firm announced Tuesday.

Growth from both retail and institutional investors has been steady in what is now called ESG (environmental, social and governance) issues.

The country’s 20th-largest independent broker has a new name and a new pitch to independent advisors.

Oppenheimer & Co., a unit of Oppenheimer Holdings announced the appointment of Doron Barness to Head of New York Institutional Equity Sales Trading, working out of the firm's New York headquarters.

The "do it yourself" investor crowd is not exactly new. But now it has a newfound source of power. A new tool on the market from Motif Investing makes it easier than ever for individual investors to create their own ETF-like investment funds.

Morningstar today published its inaugural issue of Financial Services Observer, a research report examining the competitive shifts in the U.S. wealth management industry, companies responses to industry changes following the financial crisis, and which companies Morningstar equity analysts think are poised to be a boon for shareholders.

Bloomberg -- Bank of America Corp. is seeking approval of a $160 million settlement from a judge who thrice rejected requests by black financial advisers at its Merrill Lynch unit to sue as a group over alleged racial discrimination.

The modern version of balanced funds, these portfolios continue to make inroads with investors.