Merrill Lynch is leading the charge as top U.S. wealth managers increasingly seek to grow their businesses by expanding overseas.
The nation's stock exchanges and a major trading platform have entered into new arrangements with Google and Yahoo to provide last-sale trade data at no cost to online users.
The combined total launches last year of exchange traded funds, variable annuities and closed-end funds surpassed open-end mutual fund launches for the first time, according to Boston-based research firm Cerulli Associates Inc.
AIG Advisor Group, continuing to play a game of musical chairs with the executives in charge of its various broker-dealers, has replaced James Cannon with Jeffrey Auld as president and chief executive of both AIG Financial Advisors Inc. of Phoenix and American General Securities Inc. of Houston.
Personal-injury lawyers are once again jumping into the risky — and costly — arena of securities litigation, teaming up with plaintiff's attorneys to troll for clients who claim that broker-dealers wronged them when they bought auction rate securities.
AIG Advisor Group continues to play a game of musical chairs with the heads of its various broker-dealers, this time replacing James Cannon with Jeffrey Auld, who becomes president and chief executive of both AIG Financial Advisors Inc. of Phoenix and American General Securities Inc. of Houston.
Faced with an increasingly global market in which the United States plays a diminished role, asset management companies must rethink how they approach investing.
American International Group Inc. has been hit with $13 billion in write-downs over the past year stemming from the securities lending accounts of 12 of its insurance units.
Being a contrarian and seeking out companies that other managers ignore could be the key to a successful strategy, said asset managers.
A Morningstar platform for advisers will offer a portfolio analysis feature, and E*Assist is offering form generation.
