Columbia Management Advisors, LLC (CMA), a subsidiary of Bank of America Corporation, has agreed to sell its Colonial closed-end fund management business to MFS Investment Management (MFS).
Deals & People
Barclays Global Investors has appointed Sue Thompson, formerly of Vanguard, as the National Sales Manager of the Registered Investment Advisor (RIA) Team for its iShares business in the U.S.
Prudential Financial, Inc.’s mutual fund family JennisonDryden has named Michael Rosenberg, formerly of Goldman Sachs, as its senior vice president to lead Prudential’s mutual fund expansion in the defined contribution market.
The nation's oldest CEO celebrated a birthday this week.
Lincoln Financial Network, the retail distribution division of Lincoln Financial Group, has tapped Dee Morgan and David Taksen for its financial planner/adviser recruiting group.
Salient Wealth Management LLC will now be included in Fidelity Investments’ Wealth Advisor Solutions, which gives customers of the financial services firm the opportunity to build relationships with Fidelity’s network of registered investment advisers.
California-based National Retirement Partners Inc (NRP) has signed RolloverSystems to help with its asset-retention and rollover strategy.
California-based VisionLink Corporate Insurance Services, LLC (VCIS) has become a member firm of M Financial Group, a network of independent insurance, investment, and executive benefit firms.
Informa Investment Solutions, Inc. (IIS) is set to expand its wealth management services with the acquisition of Investment Scorecard, a company that provides fully outsourced, integrated client reporting and wealth analytics solutions for the wealth management industry.
Mercer HR Services has announced it will use the technology of Wealth Management Systems, Inc. (WMSI) to enable former retirement plan participants to easily rollover assets into an Individual Retirement Account (IRA).
The investment management arm of State Street Corporation is making some changes to the structure of its financial intermediary group, which was created in 2001 to service investors such as financial advisers, broker-dealers, registered investment advisers (RIAs), and family offices.
MG Advisory Services, a wholly-owned subsidiary of Matrix Settlement&Clearance Services (Matrix), will provide retirement account services to third party administrator Sunwest Pensions’s retirement plan participants.
The program, offered in conjunction with The 401k Coach, is designed to help advisers grow and more effectively manage their retirement plan business.
Intercare Insurance Solutions, a benefits consulting firm, has acquired retirement planning firm SFG Benefits Financial.
National Retirement Partners, Inc. (NRP), announced its acquisition of Bryan, Ohio-based broker/dealer Oberlin Financial Corp.
Standard&Poor's is selling its mutual fund data business to Morningstar, including mutual fund data on performance, rankings and holdings on more than 135,000 funds in over 30 countries, as well as desktop applications and data feed products, for $55 million in cash.
Charles Schwab Corp. has tapped Walt Bettinger II, head of its investor services unit, as president and chief operating officer.
Former U.S. Representative Harold E. Ford Jr. has been hired by Merrill Lynch&Co.
AIG SunAmerica Retirement Markets has announced a partnership with plan administrator PAi, Inc., as part of AIG’s Polaris401 (k) program for small- to medium-sized companies.
XShares Advisors LLC has announced its agreement with Elliott Wave International, Inc. (EWI) to create exchange traded funds (ETFs) based on technical methods developed or validated by EWI.