Schwab Performance Technologies said last Thursday that it has entered into an agreement to acquire Etelligent Consulting Inc., a registered investment advisory technology consulting firm.
Tudor Investment clients have pulled more than $1 billion from its Raptor hedge fund after it fell 8.5% this year.
While mutual funds continue to garner the lion's share of investment assets, their growth is trailing that of exchange traded assets and separately managed accounts.
Despite the credit crisis, the job market at large financial advisory firms is expected to be strong in 2008, according to a recent Claymore Partners LLC survey.
Jason Kavanaugh, who purchased the shares, is an executive with Questar Capital Corp.
Experts cite CRM, document management, web portals, integrated adviser platforms and RSS as areas of expected growth.
The November rise marks the largest monthly increase in two years, according to a Department of Labor report.
The hedge fund run by RK Capital Management of London lost 22% in November as copper prices fell.
The wealth-management firm will launch an open-architecture platform with O.N. Investment Management Co.
