BOSTON — The Hartford Mutual Funds, where assets have more than quadrupled since 2000, added three funds last week, including two requested specifically by financial advisers.
NEW YORK — The Financial Services Institute Inc. is gearing up for a fracas with regulators over the highly contentious issue of 12(b)-1 fees, an embedded annual charge in almost all mutual funds.
Principles-based rules won’t be a panacea for financial services and, in fact, could create more regulatory risk, some industry observers say. The concept of flexible rules is being pushed hard by business interests and regulators as the way to improve and modernize regulation.
Bank of America Corp. is counting on a new advisory business to help retain ultrahigh-net-worth clients once its $3.3 billion deal to acquire U.S. Trust Corp. from San Francisco-based Charles Schwab Corp. closes next month.
BOSTON — In an effort to reverse outflows and attract new assets, American Century Investments is stepping up its efforts to sell mutual funds through financial advisers.
CHICAGO — Life cycle fever seems to be spreading from 401(k) plans to variable annuities. At ING Variable Annuities, for instance, assets in LifeStyle portfolios — which were introduced as ING-managed subaccounts in mid-2004 — reached $8 billion at the end of April, up from more than $4 billion at the end of 2005.
CHICAGO — According to a new white paper, although 83% of plan sponsors who used financial advisers were very satisfied with them, 42% of surveyed sponsors didn’t even use one.
NEW YORK — A key roadblock to health savings account acceptance is that many people know little or nothing about HSAs and their required high-deductible health insurance plans, according to industry experts.
The Hartford Mutual Funds, where assets have more than quadrupled since 2000, added three funds last week, including two requested specifically by financial advisers.
Trying to reverse outflows and attract assets, American Century Investments is beefing up its adviser channel.
