Jerry Bailey, former senior advisory director at Bear Stearns Merchant Bank, is joining Halcyon Asset Management.
Lord Abbett has lowered the front-end sales charge on three of its short-term, fixed-income mutual funds to 2.25%, from 3.25%.
The average asset-weighted expense ratio for mutual funds in 2007 was 0.90%, remaining flat from the previous year.
Five brokers at the collapsed firm have filed a $36 million arbitration complaint against National Financial Services.
The new business will take over certain operations from B-Ds that clear and custody their own trades.
"Existing-home sales could start to show a sustained increase within a few months ... ," said Laurence Yun, NAR’s chief economist.
The Association for Advanced Life Underwriting has created a political action committee, the organization announced.
Broker-dealer executives whose firms clear trades through and use the custody services of Bear Stearns Securities Corp. say that their fears have been calmed for the moment by the deal under which JPMorgan Chase & Co. will acquire parent company The Bear Stearns Cos. Inc.
Deepen client relationships and outside resources through a client advisory board.
The Hennessee Hedge Fund Index declined 1.9% last month and is off 3.5% year-to-date through March 31.
