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As investors move to fee-based financial planners, rather than those paid per transaction, those planners have become more comfortable recommending exchange-traded funds, according to Strategic Insight.
February 17 -
Money market fund assets have topped $4 trillion for the first time, greatly buoyed by the Treasury Departments $1 NAV guarantees and financing to purchase asset-backed commercial paper from money funds, which has eased the credit markets.
February 17 -
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In light of all of the demanding regulations that asset managers now face at a time when the nation is gripped by a financial crisis, not to mention the inevitable additional oversight that the new presidential administration will impose on the financial services industry, chief compliance officers are taking a more critical look than ever before at their resources. One of the obvious solutions to the demands they face is outsourcing, which today has become a mission-critical reality for even the biggest fund complexes.
February 16 -
The mutual fund industry has seen significant changes in the traditional third-party distribution model, especially this past year with the collapse of several major wirehouses and a spate of merger and acquisition activity. Alongside these changes, more broker/dealers are taking on the responsibility for recordkeeping mutual fund subaccounts.
February 16 -
The 17 exchange-traded funds Northern Trust Corp. has decided to close will have plenty of company in the exchange-traded fund graveyard before the year is out, experts predict.
February 16 -
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BOSTON - For decades, annuities were shunned by money managers for their high cost and lack of liquidity.
February 16 -
BOSTON - Like gambling addicts who just need one more big win before they cash out, millions of Baby Boomers on the verge of retirement took extremely risky bets with their life savings, hoping to score that big jackpot that would make up for all their past mistakes.
February 16 -
Fidelity Investments continues to do a smart job of marketing in this tough economy with the recommendations in the February edition of its Investors Quarterly magazine.
February 12 -
FINRA has fined two Wachovia units $4.5 million for failing to pass along breakpoint and rollover discounts for mutual fund and unit investment trust purchases, as well as for suitability violations and inadequate supervisory procedures.
February 12 -
PIMCO has launched the PIMCO Unconstrainted Tax Managed Bond Fund, an actively managed fixed income fund that will invest across all investment classes.
February 12 -
ProFunds Group has hired Joanne M. Hill as head of investment strategy. In this new role at the exchange-traded fund shop, Hill is responsible for research, development and execution of investment strategies.
February 12 -
Putnam Investments announced Wednesday it will lay off 260 people, or about 10% of its staff, on Thursday, Dow Jones reports. Most of the people being let go work in distribution or operations, but a few are in sales.
February 11 -
Sens. Tom Harkin (D-Iowa) and Herb Kohl (D-Wis.) have reintroduced legislation, the Harkin/Kohl Defined Contribution Fee Disclosure Act of 2009, that would require 401(k) plan providers to clearly disclose all of the fees they charge. The senators cite AARP research that shows if a 35-year-old invested $20,000 in a 401(k) plan over 30 years that yielded 6.5% a year and cost 0.5% in fees, their remaining balance would be $132,287, but if the fees were 1.5%, they would have only $99,679, or 25% less.
February 11 -
Van Kampen has hired Elizabeth Hughes Eginton as managing director, head of product and marketing. In this new position at the firm, Eginton will report to President and CEO Jerry Miller.
February 11 -
Fidelity Investments is shaking up its stable of portfolio managers who delivered disappointing returns in 2008, The Wall Street Journal reports. In recent weeks, one manager has left the company, two were demoted to analyst and Fidelity is currently trying to reassign two others.
February 9 -