Global investing

Genworth Financial in Richmond, Va., has launched a new wealth management division, Genworth Financial Wealth Management. The launch completes the integration of two Genworth companies: AssetMark Investment Services, which it acquired in October of 2006, and Genworth Financial Asset Management.

The Security and Exchange Commission’s 30-day rule temporarily banning short selling of Freddie Mac and Fannie Mae stock is set to expire Tuesday night.

Curian Capital LLC of Denver, the separately managed account arm of Jackson National Life Insurance Co., is developing a managed account for investors who need their portfolio to produce regular income as they enter retirement.

FolioDynamix, a provider of unified managed accounts technology and services, has acquired SunGard Advisory Technologies, which provides investment management and wealth management platform solutions to financial services organizations nationwide, including brokerage firms, RIAs, asset management firms and banks.

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.

Annual contribution limits on health savings accounts are preventing investors from accumulating enough money in them to help them gain traction, according to a report from the Employee Benefit Research Institute. For an individual, the annual contribution is currently $2,900, and for families, it’s $5,800.

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.

Many companies have moved millions of dollars of obligations for executive benefits into pension plans of regular worker to acquire greater tax breaks and pay for executives’ supplemental compensation and benefits, according to The Wall Street Journal.

The managed account solutions industry needs to adopt communications standards, according to a white paper from the Money Management Institute (MMI).

Citi has expanded its proprietary managed accounts connectivity hub with CitiConnect, specifically designed for separately managed accounts (SMAs).

FundQuest Inc. said 68 advisory firms have made its unified managed account services available to their advisers. The most recent client to sign up is United Planners Financial Services of America, an independent broker/dealer and investment adviser in Scottsdale, Ariz. FundQuest announced its agreement with United Planners on Tuesday.

BOSTON - Excessive fees in some 401(k) plans are hurting the reputation of all 401(k) plans and shaking investor confidence in what most financial experts agree is a great way for the majority of Americans to save for retirement.

BOSTON - Workers love pension plans, but providing 20 to 30 years of benefits to a huge retired workforce can cripple most companies' profits.

Despite difficult market conditions, Americans continued to save more for retirement last year, according to the Investment Company Institute.

After AARP pared down its more than 33 funds at one point during its 21-year relationship with Scudder Investments to a mere five in 2005, sub-advised by State Street Global Advisors, the new chief of its funds unit now wants to expand those offerings, with a new focus on retirement income.

Treasury Secretary Henry M. Paulson, Jr. urged Congress to finish legislation that would create a regulator for government-sponsored enterprises, Fannie Mae and Freddie Mac, and financially shore up the two mortgage financing giants.

The deadline for entries to Money Management Executive’s Sixth Annual Fund Operations Awards has been extended through Thursday, July 31, so you still have plenty of time to enter.

If elected, Democratic presidential candidate Barack Obama plans to increase the capital gains tax between five and 10 percentage points, from its current rate of 15%. The effect of Obama’s possible candidacy, along with his tax program, has already sent concern throughout the financial world, the Newark Star-Ledger reports. Some financial planners are advising investors to take advantage of the current lower rates and to drop some mutual funds and stocks.

The Money Management Institute has selected Cheryl Nash as co-chair of its technology and operations committee. She is a SVP at CheckFree Investment Services, now a division of Fiserv, and will join Kevin Miller, SVP at Dreyfus, as co-chair.