Wealth management

To sell more products through financial advisers, Fidelity Investments is reorganizing hundreds of its employees, it announced Monday.

Union Bank of California is turning to licensed bankers to boost its advisory business.

Kohlberg Kravis Roberts & Co. filed to list its shares on the New York Stock Exchange in a bid to broaden its U.S. investor base.

Convergent Wealth Advisors is closing offices in Atlanta and suburban Philadelphia to focus on regions with stronger potential.

Eighty-five percent of financial services professionals under the age of 50 are using social media such as LinkedIn and Facebook in their work, a survey found.

A recent Fidelity Investments survey of almost 500 tax advisers found that 40% of investors working with tax advisers are eligible for a Roth IRA conversion now that income limits have been removed and 35% were expected to complete a conversion by yearend.

To fuel expansion in its new retail brokerage unit, Huntington Investment in Columbus, Ohio, plans to recruit veteran brokers from national and regional firms, only not with promises of big signing bonuses.

An upstart online financial management firm from Washington has found a unique way to market to low- and middle-income investors: Through water and electric bills.

Citigroup Inc. plans to double the size of its private banker force in North America over the next several years.

MetLife Inc., the insurer spending $15.5 billion to buy an overseas unit from American International Group Inc., said lower growth in the U.S. market is prompting expansion abroad.

Apollo Management agreed to buy Citigroup's real estate investment unit in a move that will more than triple the value of the private-equity firm's property assets, a person with knowledge of the deal said.

Buyout funds sitting on half a trillion dollars committed by investors may need more than a decade to put the money to work if mergers and acquisitions continue at the current pace.

New York Life Insurance Co. bucked industry trends last year, increasing sales by 14% and surpassing $1 billion in sales for the first time in its history.

Americans' confidence in their ability to retire appears to be stabilizing, according to an annual survey by the Employee Benefit Research Institute in Washington.

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Citi Private Bank's North America CEO Peter Charrington said he would like the unit to roughly double the size of the unit's private banker force over the next several years.

Many hedge funds expect Greece's debt crisis to spread to other countries, and some managers in the $1.5 trillion industry think the country's problems will lead to the breakup of the euro, according to a survey released Tuesday.

The number of U.S. households with a net worth of $1 million or more, not including a primary residence, increased 16%, to 7.8 million last year, according to a report.

In an effort to offer an array of college savings products, SLM, the education lending and savings company better known as Sallie Mae, announced it had introduced FDIC-insured, high-yield online savings accounts and certificates of deposit.

It's been a tough few weeks for Morgan Keegan. The Memphis brokerage unit of Regions Financial recently lost big in two arbitration cases and failed to get a court order blocking discovery in a state court case brought by the retirement system for Louisiana's firefighters, which allegedly lost nearly $50 million by investing in Morgan Keegan bond funds.