Wealth management

A four-year study of how the life and annuity industry functions found a "striking" variance in approaches to dealing with the industry's most pressing issues.

Paul Reilly, who recently took over as the chief executive of Raymond James Financial, wants to take the company to a new level.

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Six months ago, 45% of bank executives thought the economy was on the right track, but a survey by Grant Thornton and Bank Director magazine found that only 15% of bankers think the economy will improve in the next six months.

As 13 certified financial planners found out recently, crime doesn't pay if you want to keep this prestigious designation.

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Nexity Financial Corp. in Birmingham, Ala., which has been operating under bankruptcy court protection, is shedding its wealth management division.

Although the industry often tends to gauge the success of a firm's technology platform by how much money is spent on it, a study from Charles Schwab Advisor Services finds that independent registered investment advisers who actively manage their tech services generate more income, while also spending considerably less money on it.

Morgan Stanley, one of the largest sponsors of managed accounts in the United States, has outsourced its middle- and back-office services for its managed account platform Alphas.

Conflicting numbers from the Phoenix Marketing International bimonthly survey of affluent and high-net-worth investors suggest that while respondents are gloomier than usual about the economy's prospects, they're also investing more in the market than they were.

Global bond and equity investors are no longer relying on the United States to power world economic growth, said presenters at a Natixis Global Asset Management press luncheon.

Two weeks after announcing an adviser-sold 529 college savings partnership with the state of Nevada, Putnam Investments said it would expand sales of the Putnam 529 for America program nationally.

Still reeling from the economic turmoil of the past three years, many pre-retirees are pessimistic about their financial future, including when they will be able to retire.

Center State Bank of Florida NA in Winter Haven seems to have entered the correspondent banking business at the perfect time.

Over the past two years, the Chicago-based business has made inroads servicing asset managers at home and abroad.

BlackRock, John Hancock Mutual Funds and Fidelity Investments topped Kasina's list this year of best websites for advisers.

Advisers who want to forge a tighter bond with affluent black American clients — or potential ones — should understand cultural differences, say officials at Northern Trust, which recently released its second biannual survey on the issue.

The stake purchase fits within Credit Suisse's asset management strategy of focusing on alternative investments, asset allocation and emerging markets business globally, Singh said.

JPMorgan Chase & Co. led in global investment banking revenue in the first nine months of the year, with $3.3 billion and a 7.7% market share, according to preliminary data from Dealogic.

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