Bloomberg

Bloomberg
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NEWS WIREHOUSES MAY 03, 2007
Wachovia to bow retirement income account

Wachovia Securities LLC is launching a pilot version of a retirement income management account, Robert Vorlop, director of investment products, told attendees of the Money Management Institute's annual meeting in Washington.

NEWS INDUSTRY NEWS MAY 03, 2007
Acquisitions drive Morningstar revenues

Morningstar Inc. a provider of independent investment research, today reported consolidated revenues of $95.4 million in the first quarter, a 36% increase from revenues of $70.1 million in the first quarter of 2006.

YOUR PRACTICE FINTECH MAY 03, 2007
Association debuts benchmarking tool

The National Association of Personal Financial Advisors has launched a new benchmarking tool that will help advisers measure their practices against those of fellow NAPFA members.

INVESTING MUTUAL FUNDS MAY 03, 2007
A.G. Edwards settles market-timing suit

A.G. Edwards & Sons Inc. of St. Louis yesterday settled with the Securities and Exchange Commission over allegations of mutual fund market timing. The firm agreed to pay $2.4 million in disgorgement and $1.5 million in penalties.

INVESTING ALTERNATIVES MAY 03, 2007
UBS to shutter hedge fund

UBS AG will close its two-year-old Dillon Read Capital Management hedge fund unit, the bank said today according to published reports.

NEWS WIREHOUSES MAY 03, 2007
Lehman appoints first head based in London

New York-based Lehman Brothers has appointed Roger Nagioff as global head of fixed income, based in London, according to published reports.

RETIREMENT LIFE INSURANCE AND ANNUITIES MAY 02, 2007
JPMorgan records shown on YouTube

JPMorgan Chase & Co is reviewing security protocols after a video posted online showed someone displaying documents found in trash cans containing customers' personal information, according to CNN.Money.com.

NEWS INDUSTRY NEWS MAY 02, 2007
Managers outsource research to India

Following the lead of investment banks, money managers are turning to India to hire research analysts at a cheaper price.

RETIREMENT LIFE INSURANCE AND ANNUITIES MAY 02, 2007
Allianz reports jump in earnings

Allianz SE noted that first quarter profits grew a hefty 80%, but results were enhanced from the sale of shareholdings in Germany. Net income crested at 3.2 billion euros ($4.35 billion) from 1.78 billion euros in the same period a year ago, reported Bloomberg.

INVESTING ETFS MAY 02, 2007
Europe likely to tryout active ETFs

The first active exchange traded funds might be introduced in the United States within the next three to six months, according to sources close to negotiations between the Securities and Exchange Commission and Bear Stearns Asset Management Inc. of New York.