Mutual funds

When Fidelity Investments expanded FutureStage last year beyond New York to help young people in underserved public schools in Los Angeles, Boston, Houston and Chicago realize their potential through the performing arts, it had no idea how incredibly life-altering and ambitious FutureStage would become.

Citi has expanded its proprietary managed accounts connectivity hub with CitiConnect, specifically designed for separately managed accounts (SMAs). Developed by Citi's securities and fund services business, CitiConnect is the most comprehensive hub to date for straight-through processing of reconciliation, trading and allocations in the managed accounts industry.

Full Force: SEC Fills All Commissioner Positions

With consumers nervous about their financial health, banks such as Wells Fargo and Citizens Bank see this need as an opportunity. Wells Fargo is making licensed brokers available to customers to discuss risk, assets and investment strategies. The bank's goal is to reach customers who aren't high-net-worth, but still have a mix of products across a number of institutions: deposits, loans, retirement plans, mutual funds and education financing.

Clapp Accepts Sales Post With Fred Alger Mgmt.

As the stock market continues to stumble along, high-net-worth investors are becoming increasingly pessimistic about the economy and dissatisfied with the performance of their financial services providers.

Given the turbulence in financial markets, now may seem an inopportune time for financial advisers to make drastic changes to the way they interact with investors.

If you can't say anything nice about someone, don't say anything at all.

The Securities and Exchange Commission could mandate the use of eXtensible Business Reporting Language (XBRL) in mutual fund risk return summaries by as early as the first quarter of next year, according to industry experts, putting many fund companies on the data-tagging fast track.

A Florida-based law team is working to help investors of the failed Charles Schwab YieldPlus Fund recuperate some of their losses.

Total money market mutual fund assets rose $32.09 billion to $3.56 trillion for the week ending Aug. 6, according to the Investment Company Institute.

Nationwide Mutual Insurance Co. of Columbus, Ohio, said it has agreed to buy all of the outstanding publicly held class A common stock of Nationwide Financial Services Inc.

Fulton Financial Corp. in Lancaster, Pa., is preparing to offer a fee-based advisory service for its retail investment customers, the head of its wealth management and trust businesses said.

Asset manager Threadneedle International Limited has launched two new mutual funds in the U.S., reaffirming its commitment to the U.S. marketplace.

In spite of their strong records, two Vanguard funds that have been suffering steep redemptions will now be reopened to investors—and industry observers say this is an indication of investors’ skittishness in this weak economy.

Vanguard is now permitting its largest international fund, the Vanguard Total International Stock Index Fund, to purchase foreign stock directly, rather than through other Vanguard index funds.

Given the turbulence in financial markets, now may seem an inopportune time for financial advisers to make drastic changes to the way they interact with investors.

MassMutual’s retirement services division is offering a customized 401(k) tool for plan sponsors and retirement plan advisers, based on asset allocation tools from Morningstar.

After years of waiting to be compensated for damages done to their investment holdings by market timers and late traders, Janus investors will finally receive $100 million worth of restitution.

Morningstar has added global real estate and currencies as two new categories it will track for mutual funds, and alternative investments as a new broad asset classes.