Wealth management

Chilton Investment Co. has started a trust unit to work with ultrawealthy individuals.

Janus Capital Group Inc. said Monday that it has launched three separately managed account investment strategies for U.S. institutional investors.

Financial Planning magazine recently sat down with Tom Bradley, the president of TD Ameritrade Institutional, to sort out the industry. Bradley, who is always brimming with optimism and energy, said he believes financial planning's solution culture is changing financial services for everyone, forcing all financial advisers to think about much more than the next sale.

Though lacking the clout of big brokerages, independent firms boast an advantage with clients: no conflicts of interest.

A former broker for Morgan Stanley and Bank of America Corp. was sentenced to one year and a day in prison for receiving kickbacks in a stock-loan scheme.

Lehman Brothers Holdings Inc. is asking a bankruptcy court to authorize the payment of $10 million in insurance proceeds to its former chairman and chief executive, Richard S. Fuld Jr., so he can settle a pair of lawsuits.

Cash management is one of the strongest growth areas for Bank of America Corp.'s Merrill Lynch unit, Sallie Krawcheck, president of global wealth and investment management at B of A, said Thursday.

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Banks' combined sales of fixed and variable annuities in August regained ground lost in July, reaching $2.9 billion, level with June's volume.

Retail investors are on the hunt for fixed-income products with decent yields, but the bond market for individual investors is often opaque, making it hard for financial advisers to get a keen sense of what these investors are thinking.

To help registered independent advisers develop additional business with ultrawealthy clients, Fidelity Investments has started a program that will allow them to use the Boston company's family office services.

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State Street Global Adivsors of Boston will buy Bank of Ireland Asset Management for about $79.3 million, State Street confirmed on Friday.

Banks keep pumping out low-rate, short-term certificates of deposit despite the fact their customers do not seem to want them, according to a nine-month analysis of the product by Market Rates Insight in San Anselmo, Calif.

Over half of American donors, 55%, plan to maintain the same level of charitable giving in the fourth quarter, despite market uncertainty, according to a survey by the Fidelity Charitable Gift Fund, the largest donor-advised program nationally.

Banks can not only strengthen customer loyalty by helping users better manage their money but also leverage a comprehensive view of customers' financial positions to more effectively target relevant products.

ETF Securities has introduced the ETFS Precious Metals Basket, an exchange-traded fund that holds fixed physical weights of gold, silver, platinum and palladium.

The Financial Industry Regulatory Authority announced that it had fined the former Ferris, Baker Watts LLC $500,000 for inadequate supervision of sales of reverse convertible notes to retail customers.

Assets under management at the 500 largest advisers in the world rose 16% last year, to $62 trillion, after contracting 23% the year before, according to Towers Watson and Pensions & Investments.