PHILADELPHIA — When it comes to voting their proxies in elections for corporate directors, mutual fund companies prefer not to stand out from the crowd.
OTTAWA — A funny thing happened on the way to a “hollowed out” corporate Canada. Instead of foreigners’ taking over Canadian companies and moving top jobs and decision making offshore (InvestmentNews, March 26), Canadian companies are acquiring foreign companies in record numbers.
Bank of America Corp. is counting on a new advisory business to help retain ultrahigh-net-worth clients once its $3.3 billion deal to acquire U.S. Trust Corp. from San Francisco-based Charles Schwab Corp. closes next month.
NEW YORK — The Financial Services Institute Inc. is gearing up for a fracas with regulators over the highly contentious issue of 12(b)-1 fees, an embedded annual charge in almost all mutual funds.
NEW YORK — A key roadblock to health savings account acceptance is that many people know little or nothing about HSAs and their required high-deductible health insurance plans, according to industry experts.
CHICAGO — Life cycle fever seems to be spreading from 401(k) plans to variable annuities. At ING Variable Annuities, for instance, assets in LifeStyle portfolios — which were introduced as ING-managed subaccounts in mid-2004 — reached $8 billion at the end of April, up from more than $4 billion at the end of 2005.
BOSTON — In an effort to reverse outflows and attract new assets, American Century Investments is stepping up its efforts to sell mutual funds through financial advisers.
CHICAGO — According to a new white paper, although 83% of plan sponsors who used financial advisers were very satisfied with them, 42% of surveyed sponsors didn’t even use one.
Trying to reverse outflows and attract assets, American Century Investments is beefing up its adviser channel.
It's the prefrontal cortex, stupid. That's the part of the client's brain that can scuttle an adviser's best-laid plans.
