Wealth management

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.

After a strong fourth quarter that saw assets under management and investment fees surge, T. Rowe Price Group Inc. still plans to follow a more conservative strategy than some of its peers.

Boston Private Financial Holdings Inc. hopes last year's strategic about-face becomes this year's growth.

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Socially responsible investment funds outperformed their benchmarks last year in almost all asset classes.

After completing its $13.5 billion purchase of Barclays Global Investors, which closed in December, BlackRock more than doubled its assets under management, to $3.3 trillion, from $1.3 trillion a year earlier and became the industry's largest money manager as measured by assets.

Earnings at Goldman Sachs Group Inc. and Morgan Stanley could drop by a 10th under President Obama's "Volcker Plan," but selling affected businesses would also hand the companies tens of billions in new capital, analysts said Tuesday.

In trying to help the middle class save for retirement, President Obama may also have given a boost to the annuities business.