The bull market in broker recruitment deals has peaked.
A panel that is charged with recommending changes to the ways money market mutual funds operate is being met with skepticism by money fund experts who worry that changes might be unnecessary.
Amid shrinking assets and a flood of redemptions, mutual funds that were closed to new investors are rolling out the welcome mat again.
Consumer sentiments improved slightly in November, according to the Reuters/University of Michigan Consumer Sentiment Index.
The Hartford (Conn.) Financial Services Group Inc. today announced that it has applied to the Office of Thrift Supervision to become a savings and loan holding company.
Fortress Investment Group LLC has seen more than $4.5 billion in redemption requests from clients in the year ended Sept. 30, the giant hedge fund reported in its quarterly statement yesterday.
EMoney Advisor produces the eMoney 360 and 360Pro wealth- and goal-planning applications used by financial advisers, while Redtail provides a popular web-based client relationship management application intended for advisers.
The Reserve Management Co. Inc. said yesterday that it has begun the initial $4.5 billion distribution to shareholders of its U.S. Government Fund.
Shareholders will receive an annual dividend of 58 cents per share of common stock Dec. 19, down by about 50% from the dividend paid out in 2007.
Retail sales fell 2.8% in October to a seasonally adjusted rate of $363.7 billion, marking the largest decline since the data were first tracked by the Department of Commerce in 1992.
