Wealth management

The global financial crisis and consolidation in the financial industry are helping TD Ameritrade Holding Corp. get new retirement business, an executive with the brokerage said.

Arthur J. Gallagher & Co. of Itasca, Ill., announced that it has bought Roberts & Roberts Insurance Service Inc. in Greensboro, N.C.

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New York Life Insurance Co. announced Thursday that it will not participate in the Treasury Department's Capital Purchase Program.

Nationwide Financial Services Inc. swung to a third-quarter loss on large investment losses related to the recent financial crisis.

Lincoln National Corp. hired Daniel Hayes as head of funds management and retirement solutions.

Vanguard Group Inc. announced that it plans to merge the $3.2 billion Vanguard Insured Long-Term Tax-Exempt Fund into the $2.8 billion Vanguard Long-Term Tax-Exempt Fund on Dec. 12.

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Curian Capital LLC of Denver, a registered investment advisory unit of Prudential PLC of London, hired Kevin Ramsier as divisional vice president for the West region.

Citigroup Inc. said it will provide hedge fund administration services for Fortelus Capital Management LLP's distressed debt fund.

Hartford Financial Services Group Inc. is going ahead with overseas expansion plans, an executive says, after a quarter it called "the most challenging in its history" and the announcement of a $2.63 billion loss that knocked the share price down 58% last week, forcing the company to announce job cuts Tuesday.

Davidson Investment Advisors of Great Falls, Mont., has launched its first mutual fund.

Fidelity Investments' brokerage assets fell 9% to $1.78 trillion in the third quarter.

Bank of New York Mellon Corp. has announced the hiring of a former Bank of America Corp. executive to run its Asian payment and trade services business.

Money market funds had net inflows of $4.41 billion in the week ended Tuesday, according to iMoneyNet's Money Fund Report, as retail investors pulled $14.37 billion from taxable money funds.

It may not be an issue that settles a swing state, but as Election Day nears executives who have a business stake in health savings accounts say the outcome of the vote could play a significant role in the outlook for their niche.

Scottrade has announced it plans to open a branch in Northridge, Calif., Nov. 10.

The high-net-worth card industry may face a tough year ahead as many people's investments shrivel and they drop from the ranks of the high-net-worth; still, Bank of America's acquisition of top-tier brokerage Merrill Lynch gives the Charlotte NC-based behemoth "a special edge" in this segment where it once lagged, says Brian Riley, a research director with Needham, MA-based TowerGroup.