Wealth management

Internal Revenue Service Commissioner Doug Shulman said the agency may reopen its voluntary disclosure program, offering a partial amnesty to tax evaders who have been hiding money in foreign bank accounts.

Most asset managers expect revenue and assets under management to grow next year, despite concerns about regulatory changes and information technology operations.

Dow Jones has formed a partnership with the Global Fund to Fight AIDS, Tuberculosis and Malaria in introducing a Dow Jones Global Fund 50 Index; a portion of revenues from licensing the index are to go to the fund.

Hedge fund, private equity, infrastructure and real estate asset management fees are down in both pooled and separately managed accounts, Mercer LLC's 2010 Asset Manager Fee Survey found.

Broadridge Financial Solutions has promoted Susan Certoma from chief operating officer to president of its brokerage processing services.

Investors who work with a financial professional report saving significantly more for retirement, according to research by ING Retirement Research.

Haverford Trust Co. prides itself on being a solid, nonflashy institution, one with an emphasis on long relationships and long-term results.

Morgan Stanley Chairman John Mack, Chief Executive Officer James Gorman and other executives won a dismissal of a shareholder lawsuit filed over $45 billion paid to the firm's employees over three years.

Bank of America Merrill Lynch announced Monday that it has introduced electronic foreign exchange options trading for institutional and corporate clients.

John Y. Kim, an executive vice president of New York Life Insurance Co., is to succeed Gary Wendlandt as chairman of its investments unit on Jan. 1.

KeyBanc Capital Markets' plans for the new year include hiring a wide range of dealmakers as part of an ongoing effort to capture more middle-market clients.

Bill Gross' Pimco Total Return Fund, the world's largest mutual fund, was the second-biggest decliner among the largest U.S. bond managers in the past month as clients pulled money for the first time in two years amid a sell-off in Treasuries.

Goldman Sachs Group Inc., which makes the most from equity trading of all Wall Street banks, is losing the head of a unit that invests in securities exchanges and two senior executives from its London equities division.

The Investment Company Institute has hired two executives on its government affairs team and promoted another person in the group.

Citi Fund Services Ohio plans to add 300 positions to its Columbus, Ohio, operations over the next three years. The center currently employs 715 people.

Long-term mutual fund inflows for the week that ended Dec. 1 totaled $1.04 billion, the Investment Company Institute said. This reverses outflows in the previous two weeks.

Individuals aren't as interested in Roth conversions as many advisers expected. According to a Mercer survey, more than half of employers said that their employees hadn't asked for the option, and 45% said they had no plans to offer it.

Thirteen percent of affluent Americans closed at least one investment account in the last year, more than double the pace in the previous five years, a report says.

According to a study by Aon Hewitt, Generation Y workers can expect stagnant wages, job insecurity and a steady decline in pension plan and retiree medical benefits.

Jerome Dodson at Parnassus Investments says growing public pessimism about the economy in 2010 persuaded him to buy stocks.