Global investing

People working in higher education are concerned about retirement but few are changing their investment strategy or planned retirement date or seeking the help of a financial adviser, ING U.S. Retirement Services found in a survey conducted in conjunction with Synovate.

Sixty-five percent of equities and 58% of options traders believe the S&P 500 Index will rise between 5% and 20% in 2010, according to a survey of 240 investors by online broker TradeKing. Many said they are more confident about the stock market now that the Obama administration has shifted its focus from healthcare reform to job creation.

The 4% decline in the Dow Jones Industrial Average in January could portend worse things to come for the stock market and the economy, Mohamed A. El-Erian, co-chief investment officer of PIMCO, recently wrote in a Bloomberg News column.

Among financial services firms well known to investors, affluent investors have the most favorable impression of Fidelity, Vanguard and American Funds. This is according to a Phoenix Marketing International survey of 850 investors age 35 to 64 with household income and investable assets, excluding workplace retirement plans, of at least $100,000 conducted this past November.

Following the financial crisis, advisers are most likely to recommend financial services companies they perceive as ethical and trustworthy, Phoenix Marketing International research shows. Conducted this past November, the Phoenix study shows that American Funds, Vanguard, John Hancock, Franklin Templeton and Fidelity command the most favorable impression among firms well known to advisers. In terms of brand recognition, advisers cited Hancock, Prudential, Vanguard and MetLife as leaders.

BNY Mellon has signed a definitive agreement to buy PNC’s Global Investment Servicing business for $2.31 billion in cash. The unit provides custody, fund accounting, transfer agency and outsourcing.

Advisor confidence in the economy and the stock market rose in January, according to Rydex SGI AdvisorBenchmarking.

Now that BlackRock Inc. has become the elephant in the room, the New York-based money manager plans to spend 2010 expanding internationally, developing its exchange-traded fund and defined contribution businesses.

After spending much of the past two years repairing its balance sheet, E-Trade Financial Corp. plans to shift its customer base from just active traders to include more long-term investors.

The Spectrem Millionaire Investor Confidence Index advanced one point in January to -9, marking the sixth straight month it has been in neutral territory. It declined six points in December.

New York Life Insurance has secured the rights as the presenting sponsor of the 2010 Big East Men’s and Women’s Basketball Championships. The men’s championship is taking place March 9-13 at Madison Square Garden, and the women’s games will be held March 5-9 at the XL Center in Hartford, Conn.

401(k) investors aided by professional investment advice—be it in the form of a target-date default investment, managed accounts or bona fide online advice—earn nearly 2% more (186 basis points) than those who do not receive such help, according to a joint study by Hewitt Associates and Financial Engines.

Bank of America’s Merrill Lynch Wealth Management unit has launched a new U.S. marketing campaign, “help2retire_____,” to illustrate individuals’ evolving retirement priorities and personal aspirations. Budgeted at $20 million, it launched Monday and is scheduled to run through the end of April on broadcast network and national cable TV, as well as print and online consumer and trade magazines, including sister publication Financial Planning.

Blackstone Advisory Services Vice Chairman Byron R. Wien, who has made annual predictions for U.S. markets and the economy at the start of the year for the past quarter century, believes there will be a number of welcome surprises in 2010—not least of which will be GDP growth surpassing forecasts of 5%.

Financial institutions will increase information technology spending 2.9% in 2010, after cutting budgets by 2.5% in 2009, according to research and consulting firm Celent.

Last year was a record year for breakaway brokers and this year could be even stronger, according to an executive at Fidelity Investments.

Despite the fact investors are more conservative after getting slammed by the recession, advisers and their clients are optimistic about the year ahead, with advisers looking to grow their business and improve their use of technology.

AXA Distributors, the annuity wholesale distribution unit of AXA Equitable, has created a comprehensive retirement income planning curriculum for financial professionals it is calling “Cracking the Code.”

Wells Fargo, advisor to the Evergreen funds, is renaming the funds Wells Fargo Advantage Funds and merging and reorganizing many of the portflios. The end result will be a family of 128 mutual funds, variable trust funds and managed account shares, down from 177.

More high-net-worth and ultra-high-net-worth investors considered themselves “conservative” last year as compared to a year earlier, according to a Spectrem Group survey.