Sanders Morris Harris Group Inc. posted a small drop in first-quarter earnings on an after-tax decline of $1.6 million in the income from its merchant portfolio and its ownership interest in limited partnerships net of minority interests.
Despite the continued – if slowing – growth of hedge funds, mutual funds will continue to dominate money management for the foreseeable future, said market observers at the ICI annual conference today.
As they examine the 401(k) retirement plan system, policy makers would be wise not to focus all their attention on fees, Martin L. Flanagan, chairman of the Investment Company Institute of Washington said today at the ICI’s general membership meeting.
Morgan Stanley & Co. Inc. will pay $7.9 million for its failure to provide best execution to certain retail orders for over-the-counter securities, the Securities and Exchange Commission announced today.
Fidelity Investments, in cooperation with Oracle Corp. and Emerging Information Systems Inc., has created two web-based customer relationship management and financial planning systems for registered investment advisers, the Boston-based firm announced today.
Van Eck Global launched the Market Vectors-Global Alternative Energy Exchange Traded Fund on the New York Stock Exchange today.
As part of effort to spiff up its fee business, the ING Advisors broker-dealers have cut fees that their advisers pay for two key advisory offerings.
Conseco, Inc. in Carmel, Ind. today reported $14.6 in net operating income for the first quarter of 2007, down from $55.8 million for the same period a year ago.
Legg Mason Inc. posted a 15% increase in net income as increased advisory fees drove assets under management to record levels.
Fortress Investment Group LLC has announced that it will buy Florida East Coast Industries Inc. in a deal valuing the Jacksonville, Fla.-based real estate developer at $3.5 billion.
