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practice management
Taking the Bull by the Horns
Following its Merrill Lynch acquisition, Bank of America aims to make a serious play in the retirement market
MSIM Beefs up Management Team
Morgan Stanley has announced the appointment of two industry veterans to expand the leadership team within its Investment Management business
China Infrastructure ETF Launches
A new exchange-traded fund (ETF) that purports to be the first China Infrastructure ETF has launched.
FINRA Proposes More BrokerCheck Expansions
The Financial Industry Regulatory Authority (FINRA) said it wants to make available more public complaints and other information through the BrokerCheck service.
Banks Capturing More IRA Rollovers from HNW Clients
A research report indicates that banks are capturing an increased share of retirement plan rollover assets from affluent investors.
McCann Names Former Merrill Exec to Head UBS Advisory Group
Robert McCann, CEO of UBS Wealth Management Americas, has filled out the firm’s leadership team with former Merrill Lynch executives, according to news reports.
BrightScope Unveils 401(k) Fee Reports for Participants
BrightScope said its new Personal 401k Fee Report product allows 401(k) plan participants to figure out what they pay in fees.
RBC Renames U.S. Asset Management Business
Voyageur Asset Management Inc. has announced that it has changed its name to RBC Global Asset Management (U.S.) Inc.
National Planning Holdings Names VP of Due Diligence
National Planning Holdings, Inc. (NPH), said it has promoted Brian Sward to vice president of due diligence.
Piper Jaffray Picks up Chicago Asset Manager
Piper Jaffray Companies has announced what it described as a “significant expansion” of its asset management business.
BofA Appoints Moynihan as CEO
Brian Moynihan will take over as Bank of America’s (BofA) CEO and president following the retirement of Kenneth Lewis on December 31, the company announced.
Some Retiring CEOs Take Good Stock Prices with Them
A new study indicates that companies that use supplemental executive retirement plans (SERPs) could see their shares suffer when the CEO departs.
Invesco Scoops Up Van Kampen Assets
Invesco Ltd. has entered into a definitive agreement to acquire Morgan Stanley’s retail asset management business, including Van Kampen Investments.
chalk talk
The Value of Difference
No one business model is “the best”; everyone thrives by virtue of being different
BofA Sells Columbia to Ameriprise for $1B
Bank of America Corporation (BofA) signed an agreement to sell the stock and bond units of Columbia Management to Ameriprise Financial, Inc., the companies announced.
Nationwide Taps Arvia as Retirement Head
Anne Arvia, president of Nationwide Bank, has been drafted to be the new chief of Nationwide’s retirement business, as of November 1, 2009.
IMHO: Under New Management
Sitting in the audience at the ASPPA/DoL Speaks conference last week, I was reminded just how disruptive it can be to have a new boss.
Lincoln Names Head of Retirement Solutions Distribution
Lincoln Financial Distributors, the intermediary distribution company of Lincoln Financial Group, has announced John C. Kennedy has joined the firm as head of Retirement Solutions Distribution.