Deals & People

Madison Benefits Group, a Houston-based employee benefits brokerage and consulting firm, announced Tuesday plans to join forces with Higginbotham&Associates, a national insurance brokerage firm.

John Hancock's Investment Management Services (IMS) group announced it expanded its role of providing investment manager selection and review services within its parent company, Manulife.

Fidelity Investments said 55 new “breakaway brokers″ have selected the company as the custodian for newly established independent registered investment advisory (RIA) firms.

Sallie Krawcheck is expected to leave her post as the head of Citigroup Inc’s wealth-management unit, The Wall Street Journal reported Monday.

USI Consulting Group announced its new defined contribution consulting practice based out of its New York City office.

Faced with extraordinary market volatility, the Board of Trustees closed the institutional Putnam Prime Money Market Fund, effective Wednesday at 5 p.m.

Dow Jones&Company announced that Kraft Foods Inc. (KFT) will replace American International Group Inc. (AIG) in the Dow Jones Industrial Average, effective September 22.

UNIFI Companies is consolidating the operations of its two affiliated mutual funds: Summit Mutual Funds and Calvert Group, Ltd.

A New Jersey-based 403(b) benefits administrator specializing in the K-12 market has acquired an Ohio 403(b) consultant.

Bank of America Corporation has agreed to acquire Merrill Lynch&Co., Inc. in a $50 billion all-stock transaction.

The Prudential Insurance Company of America has entered into an agreement to acquire MullinTBG Insurance Agency Services, LLC (MullinTBG).

Securian Financial Group, Inc., today announced plans to purchase Capital Financial Group, Inc., and its broker/dealer affiliate, H. Beck, Inc. of Rockville, Maryland.

National Retirement Partners (NRP) announced Wednesday that it acquired four new members.

401(k) Producer Services, an affiliate of 401(k) Advisors, announced it has beefed up its practice management tools for advisers under the new name Retirement Plan Advisory Group.

PIMCO Co-Chief Executive Bill Thompson will retire at year-end 2008, the company announced.

Lincoln Financial Advisors Corp. (LFA) said John R. DiMonda was named managing director for the North Central Ohio Regional Planning Group, effective immediately.

Genworth Financial, Inc., launched its new wealth management division, Genworth Financial Wealth Management, Inc.

FundQuest’s Institutional Spectrum platform is now available to financial advisers at Fintegra Financial Solutions.

Scott Fremer will lead business development efforts for Schneider Downs Wealth Management Advisors’ growing 401(k) practice, the company said.

Ameriprise Financial, Inc. today announced the acquisition of H&R Block Financial Advisers and named Donald Froude the president of the U.S. Advisor Group.