Wealth management

Raymond James Financial Services is one of the biggest names in wealth management — just not in the Northeast, one of the nation's most coveted markets. Glenn Fischer is aiming to change that.

The Security Police and Fire Professionals of America Retirement Fund said that Goldman Sachs' board breached its fiduciary duties by failing to administer bonus plans in the best interests of the company and its shareholders. The lawsuit was filed Monday in state court in New York, the fund said.

Focus Financial Partners LLC in New York, partnership of independent wealth management companies, announced Monday that LLBH Private Wealth Management has joined as a partner firm.

Affiliated Managers Group, a Boston asset manager, announced Monday that it has agreed to acquire Highbury Financial, an investment management holding company based in New York.

Charles Schwab Corp. said net new assets from new and existing clients in November totaled $6.0 billion, but lower interest rates and slowing client trading volumes are expected to hurt fourth-quarter earnings.

Latinos are the fastest-growing segment of the U.S. work force but are also among the least inclined to take advantage of employer-sponsored retirement plans, and that poses problems for plan providers.

Northern Trust Corp. announced the hiring of Fifi Ting to head sales and client service for its asset management arm, Northern Trust Global Investments, in the Asia-Pacific region, excluding Japan.

Despite heavy losses in their portfolios, most high-net-worth investors are sticking with their financial advisers, according to the Northstar/Sullivan Rebuilding Investor Trust Survey.

New hedge funds outpaced liquidations during the third quarter for the first time since the financial crisis began, according to a Hedge Fund Research report.

BlackRock Inc. announced in a regulatory filing that it plans to introduce a portfolio to give high-net-worth investors access to difficult-to-obtain hedge funds.

A new incentive package at UBS AG's Wealth Management Americas may be not be lucrative enough to retain the U.S. brokerage unit's most productive financial advisers.

Goldman Sachs Group Inc. on Thursday said its top 30 executives would get no cash bonus for 2009 as the Wall Street bank bowed to public pressure over runaway compensation packages.

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Vanguard Group announced Thursday that it has named F. William McNabb, its president and chief executive officer, to succeed John J. Brennan on Jan. 1 and become the third chairman in the firm's history.

MarketRiders, for example, allows individual investors to type in their age, time horizon, investment experience and risk tolerance, and then sit back while a computer algorithm analyzes the information and tells them what to buy and sell.

Disenchanted with mutual funds, some investors are turning to a pair of online registered investment advisory firms to create managed accounts that mimic the investments of preselected managers.

With many of the larger integrations from its Merrill Lynch acquisition complete, Bank of America Corp. can now take advantage of some subtler cross-selling opportunities, starting with retirement planning.

New York Life Investments is expanding its lineup of stand-alone, stable-value offerings by adding products and increasing distribution to include third-party channels.

Investors are changing their lifestyles, and some are delaying retirement as a result of the financial crisis, according to a study released Tuesday by the Financial Planning Association.

Assets held in exchange-traded funds increased 7.3%, to $739 billion, in November from a month earlier, according to data released Tuesday by State Street Global Advisors.