Wealth management

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New York Life Investments has agreed to acquire a majority stake in Private Advisors LLC, a fund of hedge funds manager in Richmond, Va.

Dynasty Financial Partners of New York has hired Michael C. Brown as a partner and director of wealth management.

The brokerage firm Benjamin F. Edwards & Co. of St. Louis has extended its reach to North Carolina with a branch opening and the appointment of Steven R. Perry as the branch's manager and vice president of investments.

The private-equity giant Carlyle Group agreed to acquire a majority stake in a Claren Road Asset Management, a $4.5 billion long-short hedge fund.

The average immediate annuity premium is $107,000, and 90% of policyholders purchase additional riders that either keep payments flowing to heirs, or that return the balance of the contract to heirs, if the contract holder dies unexpectedly early, according to Limra research.

PrimeVest Financial Services, Inc. has tapped into substantial demand for third-party marketing services among banks and credit unions that want temporary solutions or want to limit their level of commitment.

The formula employers use for matching contributions in their 401(k) plans serves as a strong cue to workers for how much to contribute, according to an analysis by Principal.

A London-based pioneer in commodity exchange-traded funds has quickly made a splash in the United States and says he plans to become a force here.

When clients confide about a newly diagnosed condition, plans must be adjusted not just financially, but to also ensure that the client's wishes and dignity are protected — while they are still able to voice them.

State Street Corp., the third-largest custody bank, said it will cut 1,400 jobs beginning this week and trim real estate costs as interest rates near zero erode profit.

With the Department of Labor poised to toughen rules for consultants and advisers to retirement plans, industry practices are under a new spotlight.

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UBS Wealth Management Americas named Mike Ryan chief investment strategist as brokerage head Robert McCann continues to put his stamp on the firm's research department.

JPMorgan Chase & Co. will give its investment bankers iPads to provide an additional mobile tool as Apple Inc. expands its domain to Wall Street, threatening Research in Motion Ltd. in a market it traditionally dominated.

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Franklin Templeton's 2020 Vision campaign makes the case for investing in equities in the decade ahead. It aims in part to focus investors on the market's history of long-term growth. It is also designed to help correct many investors' misperceptions.

The $3.5 billion offering has a whopping 24% of its assets in the technology sector, largely because there are so many appealing businesses selling at substantial discounts.

Some advisers are finding that offering full financial plans casts a halo effect on their businesses, even if most clients don't get one.