Wealth management

BB&T Corp. has introduced a unified managed account platform, and — unlike similar bank-owned wealth management providers — the Winston-Salem, N.C., company plans to transfer all its equity assets under management onto the platform.

Federated Investors Inc., a Pittsburgh investment manager, announced a definitive agreement with Touchstone Advisors Inc. to buy two of its mutual funds.

Silver Bridge Advisors, a Boston wealth advisory firm, said Monday that it had hired Lynne Dombroski as a principal and a client adviser.

From recommending different products to rethinking their risk management strategy, some bank-affiliated financial advisers say they have changed their approach in the wake of last year's market slump.

Banc of America Securities-Merrill Lynch Research, a unit of Bank of America Corp., announced Monday that it had hired Ethan Harris to head North America economics and David Bianco to head U.S. equity strategy.

Citigroup Inc. and Morgan Stanley completed their joint venture Monday, creating the world's largest brokerage, with about 18,500 financial advisers and combined annual revenue of about $14 billion.

Wealth management companies are lowering fees on 529 college savings plans to attract and retain assets.

Most financial services companies wouldn't consider themselves "lucky" to have bought two mortgage providers last year amid a wicked housing slump. Then again, maybe they didn't have MetLife Inc.'s ulterior motives.

First-quarter sales of variable annuities dropped 27% from a year earlier, to $30.7 billion, Limra International Inc. reported Wednesday.

After years of rapid expansion, exchange-traded funds' growth has slowed as the economy shrinks.

Provident Financial Services Inc. of Madison, N.J., plans to double its wealth management assets under advisement over the next three years, to $600 million, by targeting wealthy customers as many small and midsize banking companies divest similar businesses.

Raymond James Financial Inc. of St. Petersburg, Fla., said it has completed its acquisition of Lane, Berry & Co. of Boston.

New York Life Insurance Co. said it had hired John Grady as a senior vice president in the corporate finance department.

John Hancock Financial Services, a Boston unit of Toronto's Manulife Financial Corp., has promoted James R. Boyle to president.

Northeast Bank Insurance Group Inc., a Lewiston, Maine, unit of Northeast Bancorp, said it has bought Goodrich Insurance Associates.

BB&T Corp. is hoping some well-performing mutual funds can help its fund family recoup the assets it lost in the past year.

RBC Wealth Management, a unit of Royal Bank of Canada, announced that it has hired a Credit Suisse investment team, led by Marina Galli, that managed more than $3 billion of client assets.