Wealth management

Chicago-based FPL Advisory Group, an executive search and consulting firm with clients such as real estate investment trusts, real estate managers and private-equity managers says it now wants to represent top talent in asset and wealth management, too.

Technological advances are increasingly leading financial advisers to use unified managed accounts to oversee all of their affluent clients' assets.

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ING plans to launch a registered indexed annuity next month and will voluntarily register it with the Securities and Exchange Commission in anticipation of Rule 151A.

Victory Capital Management Inc., the asset management arm of KeyCorp's KeyBank, says it is positioned to quickly expand the assets it manages in collective investment trusts, or CITs, for defined contribution plans, but the effort will not lack challenges.

Despite strong market returns in 2009, a majority of advisers believe their clients will have to work three to five years longer than they had planned in order to maintain their standard of living in retirement, a recent survey revealed.

Beginning in 2013, people earning more than $250,000 a year will see the Medicare tax on their income rise to 2.35%, from 1.45%, and the same group will be hit by an additional 3.8% Medicare tax on investment income.

Divorce settlements for executives such as bankers who rely on bonus payouts are becoming harder to negotiate as some companies give employees less cash and more long-term incentive awards.

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Credit Suisse Group AG, Switzerland's biggest bank by market value, said Tuesday that it plans to hire more than 130 salespeople for its investment bank this year.

Former New Jersey Gov. Jon S. Corzine is returning to the business world as the chairman and chief executive of MF Global Holdings Ltd., the New York brokerage said Tuesday.

A former head of Merrill Lynch's family-office services has left to join the Fulbright & Jaworski law firm in Houston.

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.