Wealth management

Securities and Exchange Commission Chairman Mary Schapiro asked for market participants' "good faith" input Tuesday on the host of rules the agency must draft to enforce the financial reform law.

Affiliated Managers Group Inc. said Tuesday that its second-quarter earnings more than doubled as revenue surged.

U.S. Trust announced the hiring of nine senior wealth management executives on July 22 for its California, Arizona and Washington operations as part of a wealth management expansion effort, according to a press release.

Forty merger and acquisition deals were completed by registered investment advisory firms in the first half of the year, the best first half ever in terms of deal volume, according to data from the Schwab Advisor Services unit of Charles Schwab Corp.

For as much press as the recent financial reform legislation received, most financial advisers appear unaware of its importance for their business and clients.

Financial advisers spend 23 hours a week on the Internet visiting industry and fund manager websites as well as social networking, a survey by kasina found.

Sometimes regulatory changes that are meant to benefit investors end up taxing industry professionals, though this does not appear to be the case for the Securities and Exchange Commission's new format for investment company brochures.

A securities industry regulator investigating abuses in mortgage-linked investments has focused on the activities of Morgan Stanley, Barclays PLC and Credit Suisse Group AG, a person with direct knowledge of the matter said.

TD Ameritrade Institutional said ramping up services to help breakaway brokers paid off in fiscal 2010, with 212 brokers joining firms using it as their custodian.

Only 52% of advisers proactively offer charitable planning advice to their clients, according to a survey by the Fidelity Charitable Gift Fund.

Global assets under management have risen, yet asset managers are still struggling to earn a profit, according to a report from Boston Consulting Group.

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Morgan Stanley's chief executive, James P. Gorman, warned Wednesday that earnings could be choppy over the next few quarters because of continued market volatility, but said he expects retail investors will eventually rush back into the market.

Rising tuition fees and the uncertain state of the economy are causing more people to put their own retirement savings ahead of their children's college education.

Northern Trust Corp. said second-quarter profit tumbled as a result of declines in fee revenue and some nonperforming loans.

The AARP Financial mutual funds will cease to exist as of Oct. 1, less than three years after they launched to much fanfare.

The first blow in the fight against failures remains automating and speeding up otherwise paper-based communications between fund managers and their broker-dealers and custodian banks.

Goldman Sachs Group Inc. lost its bet that stock market volatility would diminish in the second quarter, just as a gauge of equity price swings surged to a one-year high.

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TD Ameritrade Holding Corp said Tuesday fiscal third-quarter profit increased 5%, to $179.4 million, or 30 cents per share, from a year earlier as trading volume increased.