Deals & People

Newark-based insurance company Prudential Financial today said it plans to sell its minority stake in Wachovia Securities to Wells Fargo.

Nationwide Financial Services, Inc. has selected Cain Hayes to lead its bundled retirement plan services.

Lincoln Financial Group announced that Tom McGirr has joined the company as head of IRA Strategies, Retirement Solutions.

PlanSource said it will now be able to manage a broker’s entire book of business under one solution.

The Depository Trust&Clearing Corporation (DTCC) said FolioDynamix, a provider of technology platforms and services to the managed accounts industry, has joined DTCC’s Managed Accounts Service.

Putnam Investments President and CEO Robert Reynolds continues to bring in former Fidelity Investments executives.

Securian Financial Group acquired Capital Financial Group, Inc. (CFG) and its broker/dealer affiliate, H. Beck.

New York Life Investment Management (NYLIM) said its Equity Investors Group (EIG), will become Madison Square Investors LLC on January 1.

Lincoln Financial Advisors named Gregory Rieke as managing principal of the Kansas City Regional Planning Office, based in Overland Park, Kansas.

Benefit Advisors Network, a national network of independent benefit advisory and consulting companies, has named Raleigh, North Carolina’s Progressive Benefit Solutions (PBS) as its newest member.

The board of trustees of Vanguard Morgan Growth Fund has named two new firms to the fund’s investment advisory team.

Fidelity Investments named Charles Goldman, former executive vice president and head of Schwab Institutional, as president of Institutional Platforms for Fidelity Institutional Products Group.

Putnam Investments announced that Daniel C. Farrell has joined the company as its head of Equity Trading.

Nuveen Investments has announced an agreement to acquire Winslow Capital Management.

The Hartford Financial Services Group, Inc., announced a new organizational structure for its Employer Markets Group (EMG).

Sigma Planning Corporation (SPC) and FundQuest announced the launch of a new managed account platform for Sigma's national network of 500 investment adviser representatives.

MassMutual’s Retirement Services Division has added two new positions to its support organization for third-party administrators (TPAs).

Fidelity Investments today named Michael Durbin as president of Fidelity Institutional Wealth Services, provider of trading, custody, and brokerage services to registered investment advisers (RIAs).

GE Asset Management Incorporated (GEAM) on Tuesday announced several additions to its institutional sales team, expanding the firm’s presence in both the public and corporate plan markets.

In order to boost the equity side of Putnam Investments, CEO Robert Reynolds said the firm will undergo several changes, including an elimination of staff positions, the merging...