Wealth management

Thomas X. Geisel faced his share of challenges early this year when he took over as president and chief executive of Sun National Bank in Vineland, N.J.

Investment losses and poor performance in variable annuity businesses pulled down major life insurers' third-quarter results.

(To see this graphic in full, click on the image in the box to the right.)

Adviser confidence in the economy and stock market sank this month for the second consecutive month, according to Rydex AdvisorBenchmarking Inc., a Rockville, Md., unit of Rydex Investments.

Massachusetts Financial Services Co., a Boston investment management firm that does business as MFS Investment Management, has launched a business development unit for the "defined contribution investment only" market.

ING Financial Services Inc., a Windsor, Conn., unit of ING Group NV, launched an online plan administration platform for sponsors of 403(b) retirement plans.

Invesco Aim Management Group Inc., a Houston investment management unit of Invesco Ltd., announced that it has launched the Aim V.I. PowerShares ETF Allocation Fund.

National Planning Holdings Inc., a Santa Monica, Calif., broker-dealer unit of Prudential PLC, said that its revenue in the first nine months of the year increased 7.4% from the same period last year, to $472 million.

Wells Fargo & Co.’s deal to acquire Wachovia Corp. has not stopped Wells from launching new investment products, including a new socially responsible fund.

Most observers agree massive aid for ailing households and failing institutions is necessary, even if it inadvertently rewards those most culpable.

Oppenheimer & Co., a unit of Oppenheimer Holdings Inc. of New York, said it has purchased the restructuring group from the privately held Fulcrum Strategy Partners.

U.S. Bancorp did not envision the current market turmoil when it launched its unified managed accounts last year, but it says the volatility is one reason they have been well received.

Prudential Financial Inc.'s fixed-income asset management unit hired Sara Bonesteel as the head of the structured asset management group.

T. Rowe Price Group Inc. said Friday that its third-quarter net income dropped 13% from a year earlier, to $152.8 million, or 56 cents a share, as lower market valuation and the flight of worried investors lowered assets under management.

Banks and other financial companies that are willing to stomach a few more quarters of volatility could find themselves well positioned to acquire wealth management companies or talent, according to analysts and industry executives.

Scottrade Inc. said it will open its first South Dakota branch.

Janus Capital Group Inc. said its third-quarter net income more than doubled from a year earlier, to $25.4 million, or 16 cents a share, though clients assets dropped along with the stock market.

Boston Private Financial Holdings Inc. reported a third-quarter loss of $273.36 million, or $5.92 a share, after reporting a profit of $17.42 million, or 44 cents a share, a year earlier.