NEW YORK — Despite continued consolidation, the clearing industry in some ways is becoming more crowded, with increased competition for the clearing business of top independent-contractor broker-dealers.
BOSTON — Say goodbye to the Green Mountain Boy. As part of an ambitious growth strategy designed to get its mutual funds noticed by distributors, Montpelier, Vt.-based Sentinel Asset Management Inc. is retiring its decades-old icon.
NEW YORK — Asset managers are raking in plenty of business from baby boomers but are missing the boat when it comes to boomers’ children, according to a recent report from KPMG International.
NEW YORK — An increasing number of independent-contractor broker-dealers are doing business with more than one clearing partner, adding to the stiff competition among some clearing firms.
NEW YORK — Wholesalers seeking an adviser’s good graces should forget the freebies and concentrate on developing solution-oriented consultative relationships.
CHICAGO — While the Department of Labor has yet to issue final regulations on default options for 401(k) plans, many companies are jumping ahead and incorporating a qualified default investment alternative into their retirement plans.
PHILADELPHIA — Morningstar Inc., the mutual fund research company, is backing off its long-held position that fund boards that oversee multiple funds are less effective stewards than those responsible for just a few funds.
NEW YORK — A new tool on the Securities and Exchange Commission’s website that provides investors with a list of companies involved in countries designated as “state sponsors of terrorism” is raising eyebrows among lawyers and politicians.
The Senate opened an investigation into insurers that use suspect tactics when dealing with seniors.
401(k) participants should get concise annual summaries of expenses—preferably online, according to a trade group.
