Lee Conrad

The FBI has reportedly interviewed employees at the bank’s wealth management unit.

The fifth-biggest bank in the U.S. strikes a deal with BlackRock's FutureAdvisor to offer automated investing service.

Putnam Investments announced a new suite of income-oriented funds designed to help advisers better serve their clients' retirement issues.

Baird expanded its wealth management business Tuesday by recruiting new advisers overseeing a total of $450 million in client assets to two of its new offices.

Bank of America Corp. officially announced Monday the introduction of Merrill Edge, a platform geared to the mass-affluent customer segment.

The Barclays wealth management division has pinpointed more than 1,200 investor types along with specific strategies for how to advise them.

Cambridge CTO, which will provide high-level technology expertise to hedge funds and private-equity funds, has begun operations. The firm said it will be able to provide the equivalent services of a full-time chief technology officer at a fraction of the cost.

UBS' Americas wealth management division continued its hiring spree, adding million-dollar producers in New York and Houston.

Independent advisers are still "somewhat conservative" in their outlooks, but their expectations include some bright spots, according to a survey by Charles Schwab.

Flows into U.S. open-end funds grew overall in July, to $14.1 billion, from $13.5 billion, according to numbers from the Morningstar research firm. But within that increase were mixed messages regarding investors' risk appetite.

UBS Wealth Management Americas has struck an agreement with Richard Bernstein Advisors, which it says will enhance its research capabilities.

UBS AG recently made three new additions to its adviser staff, in two different Florida offices.

Asset managers are not in financial reform's crosshairs, Keefe, Bruyette & Woods said in a report.