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.
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.
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 — Although institutional investors have hopped on the socially conscious investing bandwagon, individual investors may be wondering whether it really pays to allow their conscience to dictate their investment strategies.
PHILADELPHIA — When it comes to voting their proxies in elections for corporate directors, mutual fund companies prefer not to stand out from the crowd.
NEW YORK — The needs of aging clients and their aging parents are compelling financial advisers to become more knowledgeable about elder-care issues.
BOSTON — The Hartford Mutual Funds, where assets have more than quadrupled since 2000, added three funds last week, including two requested specifically by financial advisers.
What has four feet, lives in a stable and could be your next investment? With the 139th Belmont Stakes coming up this Saturday, horse money can be found not just at the betting window but also in the thoroughbreds themselves.
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.
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.
