RIA Industry Rife With M&A Activity
Since 2006, the average number of annual deals among registered investment adviser (RIA) firms rose 37% in the last two years, to 48, and the increase in acquisitions...
News
Massachusetts Charges Merrill with Fraud over ARS Sales
The Massachusetts Secretary of the Commonwealth has charged Merrill Lynch&Co. with fraud over charges it marketed auction-rate securities while not accurately disclosing the potential market risks.
MetLife Offers Morningstar Resource to Non-ERISA 403(b)s
MetLife Resources has enhanced its suite of solutions for 403(b) plans not subject to the Employee Retirement Income Security Act (ERISA) with the launch of ExpertSelect.
Turner Introduces Long-Short Fund
A suburban Philadelphia money manager has unveiled a 130/30 mutual fund.
The Online 401(k) Adds 16 New Adviser Relationships
The Online 401(k) expanded its network of financial adviser partners by 16 during the second quarter of 2008.
Mutual Fund Assets Drop 5% in June
The combined assets of the nation's mutual funds decreased by $612.42 billion, or 5%, to $11.678 trillion in June, according to the Investment Company Institute (ICI).
Pax Fined $500k in SRI Violations Case
A New Hampshire socially responsible investment (SRI) money manager has agreed to a $500,000 settlement with federal regulators in charges it improperly bought securities despite its own SRI...
Attention “Deficits?″
Mothers always seem to feel a special responsibility for their children – and new research seems to offer yet another reason to worry.
Fidelity Sticks with Controversial Ads
TIAA-CREF has agreed to pull a controversial ad urging federal employees to roll over their assets, but Fidelity refusals to halt a similar ad.
PIMCO Ventures to ETFs
PIMCO filed documents with the Securities and Exchange Commission (SEC) to launch its first bond exchange-traded fund (ETF), according to published reports.
John Hancock Redesigns Adviser Web Site
John Hancock Funds says its new Adviser Center will allow advisers to access all information in two clicks or less.
401(k) Participants Pull Out from Equities
401(k) participants continued to flee equity holdings in June 2008, according to Hewitt’s 401(k) Index.
Good Investment Performances Equals Investor Satisfaction
Raymond James led in investor satisfaction among 19 full service investment firms, according to a study from J.D. Power and Associates.
DoL, SEC Ink Information Sharing Pact
The U.S. Department of Labor (DoL) and the U.S. Securities and Exchange Commission (SEC) signed a memorandum of understanding pledging to continue sharing information about retirement plan investments.