Deals & People September 13, 2007

Invest n Retire Offers Rydex ETFs in Retirement Plans

Rydex Investments has announced the availability of eight exchange-traded funds (ETFs) in Invest n Retire retirement plans.
Reported by

Invest n Retire provides advanced technology that enables investors to own whole and fractional shares of ETFs in their retirement portfolios without incurring the expense of opening a separate, self-directed brokerage account, a company announcement said.

Rydex has a lineup of approximately two dozen exchange-traded products. Currently, the following Rydex ETFs are available in Invest n Retire plans:

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  • Rydex S&P Equal Weight ETF,
  • Rydex S&P 500 Pure Growth ETF,
  • Rydex S&P 500 Pure Value ETF,
  • Rydex S&P MidCap 400 Pure Growth ETF,
  • Rydex S&P MidCap 400 Pure Value ETF,
  • Rydex S&P SmallCap 600 Pure Growth ETF,
  • Rydex S&P SmallCap 600 Pure Value ETF, and
  • Rydex Russell Top 50 ETF.

Invest n Retire’s proprietary system includes asset allocation models designed by the plan’s financial consultant. In addition, the system offers portfolio rebalancing‚ online enrollment‚ investment education‚ daily valuation‚ and investment options which include an array of exchange-traded funds (ETFs) and Dimensional Fund Advisors institutional index funds.

For more information visit www.investnretire.com.

More information about Rydex funds can be obtained at www.rydexinvestments.com.

Compliance September 12, 2007

Mass. Regulator Says Morgan Stanley Mined CareerBuilder.com for Clients

Morgan Stanley and two Boston-based employees were charged by Massachusetts’ top securities regulator for improperly sifting though job posting Web site CareerBuilder.com to find customers, including potential sources of 401(k) rollover assets.
Reported by

The Web site hosts resumes and includes other valuable information such as employment history, recent salary levels, and vital contact information such as cell phone numbers, according to the complaint from William Galvin, the state’s Secretary of the Commonwealth.

Galvin suggested the employment history information was used to identify potential 401(k) rollover clients.

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The complaint says Arlen Jay Fox looked at more than 1,000 resumes between August 2005 and December 2006 after his boss, David Swartz, gave him a password to access the information. He then used the information to drum up business, according to the charges.

Galvin said the two breached the terms of Morgan Stanley’s contract with CareerBuilder and violated national and state do-not-call lists, where people can ask not to be solicited by phone. However, the investment bank said it was an isolated instance.

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