Wealth management

TD Ameritrade Holding Corp.'s move to buy thinkorswim Group Inc. would give TD Ameritrade scale and dominance in the online options trading business.

The Treasury Department and the Internal Revenue Service issued a ruling that allows 529 college savings plan account owners to change their investment strategy twice this year.

U.S. money market fund assets increased nearly 1.2% this week from a week earlier, to a record $3.805 trillion, according to a report released Wednesday by Informa PLC's iMoneyNet.

XL Insurance, the global insurance arm of XL Capital Ltd., has promoted Mike Martin to chief property underwriter for the Americas.

TD Ameritrade Holding Corp. said it has hired Peter Sidebottom as its executive vice president of product and marketing.

Assets held by American millionaires have declined 30% during the economic crisis, according to a November survey by Spectrem Group.

Fidelity Investments has hired Peter Cieszko, the former president and chief executive officer of Wachovia Corp.'s Evergreen Investments, as the president of Fidelity Investments Institutional Services Co. Inc., and Ed Orazem, managing director of global wealth management for Citigroup Inc., as the president of Fidelity Family Office Services.

Janus Capital Group Inc. in Denver said it has hired Todd Bitzer to be a vice president and team leader of corporate, foundations, and endowments in the company's institutional group.

With organic growth expected to stay in the single digits this year, BB&T Corp. is positioned to continue buying independent insurance agencies.

American International Group Inc. has announced the promotion of Russell Johnston to president and chief executive officer of AIG Environmental, a unit of AIG Commercial Insurance and one of the largest pollution liability insurance providers.

John Hancock Financial's fixed annuities unit has announced the promotion of Bill Swartz to a national sales manager.

New York Life Investments announced Tuesday that it had hired John C. Siciliano to be a senior managing director and head of its investment boutiques.

WisdomTree Investments Inc., a New York exchange-traded fund provider, has retained Ernst & Young LLP to be its independent registered public accounting firm and dismissed Marcum & Kliegman LLP.

Most wealth management companies are preparing to tighten their belts this year, but Aviva Investors North America plans to add staff and develop additional products to increase assets and sales.

Variable annuity sales sank in 2008 as the stock market's swoon scared investors off.

U.S. money market fund assets grew 0.6% during the week that ended Dec. 30, to a record $3.759 trillion, according to Informa PLC's Money Fund Report.

CBiz Inc., a Cleveland benefits services firm, said last week that it has closed its deal to buy the non-attest business of Mahoney Cohen & Co., a New York provider of accounting and management consulting services.

The St. Louis investment firm Scottrade Inc. is opening a branch today in North Las Vegas, Nev.