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NEWS
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Invesco PowerShares Preps More ETFs
February 23, 2012Exchange-traded fund developer Invesco PowerShares Capital Management plans to list two ETFs that will give investors access to what it calls “high-beta strategies,’’ covering the emerging and international developed markets.
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Credit Suisse Suspends Issuance of High Volatility ETNs
February 23, 2012Due to internal company limits on the number of exchange traded notes it can have circulating in securities market, Credit Suisse said it has temporarily suspended issuance of the high volatility product VelocityShares Daily 2x VIX Short-Term ETNs.
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PIMCO Makes a Push Into Equities
February 23, 2012Bond behemoth PIMCO is making a push into the equities space with the hire of Geoffrey Johnson as an executive vice president and global equity portfolio manager. He will begin with the firm in April and will be based in the Newport Beach, Calif. office.
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RIA Glenmede Adds Business Development Manager
February 23, 2012Glenmede appoints Matthew Beardwood to the newly created position of business development manager to help bolster its client base.
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RIA Leader Capital Names Carmack Co-Portfolio Manager
February 23, 2012After one year at the company, Scott Carmack has been promoted to work alongside founder John Lekas to develop investment operations.
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Stock Funds Lose Momentum to Bonds Again
February 22, 2012Investors continued to steer money into stock mutual funds in February, though with much less enthusiasm. According to statistics released today by the Investment Company Institute, investors placed an estimated $1.04 billion into equity funds during the week ended Wednesday, Feb. 15, less than half the $3.64 billion they poured into the funds a week earlier.
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RiverNorth Stops Flows Into Strategic Income Fund
February 22, 2012RiverNorth Capital Management said its RiverNorth/DoubleLine Strategic Income Fund will be closed to new investors on March 30, but current investors and advisors can still purchase shares after that date.
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BNY Mellon Adds Two to Tri-State Wealth Management Team
February 22, 2012BNY Mellon Wealth Management has hired financial services veterans Kristopher Carney and Angela Smith Domzal to join its Tri-State wealth management team.
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Many Small Business Owners In the Dark on Retirement Plans, Fidelity Finds
February 22, 2012About 60% of those with SIMPLE-IRAs were not aware that employer tax filing is not required.
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FSI Says It Helps Get Stretch IRA Tax Rule Dropped From Federal Highway Bill
February 22, 2012“With our economy in the shape it’s in, and saving for retirement more difficult than ever, it was critical that this troubling provision be stripped from the bill,” according to a statement from FSI President and CEO Dale Brown.
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RMA Designation Program For RIAs Gets New Curriculum Director
February 22, 2012Wade D. Pfau will oversee Retirement Management Analyst designation program as curriculum director.
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RBC Nabs Morgan Stanley Financial Advisor Team
February 22, 2012RBC Wealth Management has reeled in a Morgan Stanley Smith Barney financial advisor team overseeing more than $350 million in client assets.
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Wells Fargo Tweets for Retirement Planning
February 22, 2012Wells Fargo is using Twitter to spread the word about saving for retirement. The banking giant has been promoting “America Saves Week” by using its Twitter account, @Ask_WellsFargo.
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