Wealth management

Hartford Financial Services Group Inc. announced Tuesday that it had completed its previously announced equity and debt offerings so that it can repay the Treasury for its Capital Purchase Program funding.

GunnAllen was has been shuttered by Finra for net capital violations, but client money will be safeguarded, said a source close to the situation.

The recruiting wars raged on Tuesday as Merrill Lynch lured a million-dollar producer from Morgan Stanley, and Morgan Stanley, in turn, recruited an adviser from Merrill, plus a team from UBS AG.

A new company wants to shake up the way Americans invest by providing individuals with direct access to institutionally priced mutual funds and other investments.

Fidelity Investments expects more gains in sales of its 401(k)s through third-party financial advisers to small and midsize companies — and it will reduce fees to capture additional share.

Buyers of long-term-care insurance are reacting to the economic turmoil in just the way many executives in the insurance industry thought they would: with thrift and caution.

Last week's initial public offering by the Palo Alto, Calif., company, a retirement plan adviser co-founded by a Nobel Prize winner, affirmed investor belief in a business model offering low-cost sophisticated retirement advice to individual investors.

Wells Fargo Advisors plans to close all five of its Latin America offices and is inviting roughly 100 financial advisers there to relocate and continue to serve clients from its U.S. branches.

Yale University, whose endowment is the top performer in the U.S., is cutting its target allocations in hedge funds to allow for bigger stakes in private equity and real estate, the asset classes that hurt the fund last year.

Senior managers at Morgan Keegan & Co. argue that their restructuring moves last week are a break with the past — and a sign that the securities unit still has a future with its parent company, Regions Financial Corp.

Despite advisers' bullish predictions, average production dropped by 11%, to $14,930, in January from $16,728 in December.

Fidelity Investments' Charitable Gift Fund is growing, a trend seen in donor-advised funds in general as a post-crisis sense of normalcy returns to the market.

For more information on this data, visit Novantas LLC and Market Rates Insight.

Bank of New York Mellon Corp. said Thursday that it had promoted John A. Fiore to chief information officer.

The Hartford Financial Services Group Inc. has announced that it will use funds raised from debt and equity offerings as part of a plan to repay the $3.4 billion it got from the government under the Troubled Asset Relief Program in 2009.

By avoiding gimmicky riders, benefit reductions and higher prices, Jackson National Life Insurance Co. reported its best year for annuity sales through banks in 2009.

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American investors remain confused about this economic recovery, according to monthly data from Morningstar Inc.

The Investment Company Institute is on board with many government reforms intended to make money market funds more secure, but not all of them.

As firms try to figure out how to retain and recruit new clients, MetLife is looking at the once-ignored "emerging investor."