Wealth management

In an effort to match competitors, Fidelity Investments has reduced commissions for online U.S. equity trades made by retail investors and financial advisers.

TD Bank Financial Group said Wednesday it is "transitioning out of" its financial advice business.

MetLife is in talks to buy one of American International Group Inc.'s largest international life-insurance units, but MetLife's top executive says his company does not need such deals to grow.

Some analysts said Bank of New York Mellon's latest deal is a defensive move to box out Northern Trust from becoming a top competitor in asset servicing.

While some banking companies continue to hoard capital, Bank of New York Mellon Corp.'s top executive said expansion remains its top priority. But some analysts said its latest deal is clearly a defensive move to box out Northern Trust Corp. from becoming a top competitor in asset servicing.

Citigroup Inc. plans to sell or split off its $10 billion Citi Private Equity unit, expanding the list of money management businesses the company is disposing of to reduce debt, people familiar with the matter said.

Many large money managers have been divesting in the past few years to focus on core businesses, but Invesco Ltd. retained its trust unit, Atlantic Trust. The decision is paying handsome dividends.

A Colorado community bank has found success in wealth management using a most unusual model.

With more banks expected to shed fund units to raise capital, deep-pocketed investment managers are poised to get even bigger.

Fund managers participating in a government program to buy mortgage-backed securities from banks had invested less than 15% of the money available to them as of Dec. 31.

Progressive Asset Management of Oakland, Calif., has agreed to buy the brokerage firm GunnAllen of Tampa, Fla., according to published reports.

The ETF Council, a trade organization for exchange-traded funds, is set to launch this month.

An overwhelming majority of American workers to believe it's time for a new and improved model for workplace retirement programs, Prudential Financial found in a survey.

VantisLife, of Windsor, Conn., plans to "go west" by selling its life insurance products through banks in the Midwest and California.

The actively managed exchange-traded funds sector is increasingly going mainstream, and Grail Advisors is riding right along with it.

Bank of New York Mellon Corp. is in final-stage discussions to acquire a unit of PNC Financial Services Group Inc. for close to $2.5 billion, said people familiar with the matter.

Janus Capital Group Inc.'s fourth-quarter earnings surged as the money manager rebounded from the financial crisis.

Steven Black will drop his role as executive chairman of JPMorgan Chase & Co.'s investment bank to become a vice chairman of the company, reporting to Chief Executive Jamie Dimon.

Confidence among affluent investors grew slightly this month.

E-Trade Financial Corp. says it wants to cater to a greater number of long-term investors, as well as to its traditional base of active traders.