Wealth management

Consumers' evaluation of banks' reputation has fallen four points since February, to 77 points on the biannual BAI/Finacle Index of Bank Sentiment.

Grail Advisors, a provider of actively managed exchange-traded funds that was started in January 2009, has indicated that it may be in the process of being acquired.

Janus Capital Group has announced the introduction of global bond fund and emerging markets fund portfolios — the firm's first stand-alone strategies in these categories.

Morgan Stanley named Colm Kelleher to lead operations in Europe, the Middle East and Asia outside Japan, while Paul J. Taubman will take on responsibility for Latin America and Japan.

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As 401(k) balances rebounded in 2010, the executives running defined contribution plans named retirement readiness one of their top priorities, according to the 10th Annual 401(k) Benchmarking Survey conducted by Deloitte and the International Society of Certified Employee Benefit Specialists.

The Financial Industry Regulatory Authority's arbitration panel raised its credibility in the securities industry when it imposed a hefty penalty on a unit of Ameriprise Financial Inc., Securities America, for its role in selling an elderly woman private placement notes from Medical Capital Holdings, industry professionals say.

RBC Capital Markets, the top arranger of Canadian government-bond issues for seven years, saw its market share fall to its lowest level since 2007 as National Bank Financial gained on higher sales outside Quebec.

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The Certified Financial Planner Board of Standards has appointed Edward Mora chairman of its Disciplinary and Ethics Commission, which polices the behavior of CFP designees.

Wells Fargo Insurance Services USA Inc. of Chicago has acquired Prestige Professional Plans, a single-office employee benefits insurance brokerage in Dayton, Ohio.

Only half as many municipal advisory firms are registered with the Municipal Securities Rulemaking Board as with the Securities and Exchange Commission, even though advisory firms are required to sign up with both regulators under the Dodd-Frank Act.

Jeremy Grantham, Bill Miller and Donald Yacktman, having told mutual fund investors that 2010 was a year to buy the biggest stocks, and getting drubbed by most of their peers, are sticking with that prediction.

Morgan Stanley named Jim Rosenthal chief operating officer to succeed Thomas Nides, who left to take a position at the State Department.

Two credit chiefs have left Citadel Securities along with a high-raking equities executive, according to several reports.

Steadfast Networks, which is trying to create a network for financial trading, has taken a step toward that goal by acquiring Radius IT.

Mariner Wealth Advisors of Leawood, Kan., has acquired CBIZ Wealth Management of Cleveland, an individual wealth management firm formerly associated with CBIZ Inc.

The insurance industry faces some headwinds in the new year, the most prominent of which is a persistent soft market.

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

Taxpayers who claim deductions for home mortgage interest, gifts to charity and state and local taxes will now have to wait until mid- to late February to file their 2010 returns.