Wealth management

Metavante Technologies has introduced the option for financial institutions to add financial planning and advice technology from AdviceAmerica to Metavante's existing wealth management offering.

UMB Financial is set to make its first — and promises not the last — acquisition as part of a strategy to "substantially" expand its insurance services unit.

Morgan Stanley paid $950 million to buy back warrants issued to the federal government as part of its capital infusion to banks.

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Despite strong variable annuity sales and better than average performance, TIAA-CREF's ability to continue adding assets at this pace has analysts split.

Investment managers are developing lower-cost alternatives to annuities to help customers — and advisers — spend their savings after retirement.

The insurance broker Marsh & McLennan said it swung to a second-quarter loss that it attributed in part to the effects of divestiture and continued weakness in its consulting businesses.

Credit Suisse Group AG has hired Trevor Randolph from BNP Paribas Securities as a senior sales executive for its fund-linked products unit, a source said.

The funds arm of UBS reported Tuesday that in the second quarter inflows into its institutional equities strategies rose for the first time in over three years, though ...

Umpqua Holdings Corp. plans to aggressively expand its private banking unit as other, smaller banks divest such businesses. Donna Huntsman, who was hired Monday to be a senior vice president of private banking, said she expects the Roseburg, Ore., company to have at least $900 million of private banking assets under management in three years.

Alternative assets under management fell 37.25% from a year earlier, to $2.496 trillion as of March 31, according to a survey released Tuesday.

Dow Jones Indexes said Tuesday that it has hired Tariq Al-Rifai as its director of Islamic indexes.

American International Group Inc. has hired Robert H. Benmosche, formerly of MetLife Inc., as president and chief executive officer.

Foundation Source, a Fairfield, Conn., company that provides support services for private foundations, announced Tuesday that it has hired Frank M. Maiorano as executive vice president of sales.

A Charles Schwab survey says that 39% of mutual fund investors have changed their portfolio allocations since the stock market began to decline.

BNY Mellon Asset Servicing, a Boston unit of Bank of New York Mellon Corp. that provides securities servicing, announced Monday that it will supply outsourcing support to managed accounts covering more than $200 million in client assets at Mesirow Financial, a Chicago financial services firm.

Huntington Funds, a unit of Huntington Bancshares Inc. in Columbus, Ohio, announced Monday that it had introduced three asset allocation funds.

With the wire houses buckling in the heat of the economic meltdown and ownership of what were once the mightiest brokerages changing hands, more and more wire house advisers are giving independent firms a careful look.