Wealth management

Boston Private Financial Holdings Inc. has installed new leadership and a new strategy at its Los Angeles banking unit to right the ship after the unit suffered losses related to its residential and construction loan portfolio in the past year.

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Federated Investors Inc. of Pittsburgh, a money market fund manager, announced it will pay its first-ever special dividend.

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Forward Management LLC, an asset manager based in San Francisco, hired Jeffrey P. Cusack as president.

Fisher Investments, a Woodside, Calif., independent investment manager, has announced the purchase of Lighthouse Capital Management LP in Houston.

Transamerica Life Insurance Co. has announced the introduction of Transamerica Principium II, a variable annuity.

Working women are less likely than men to have adequate life insurance coverage, according to a study by MetLife Inc.

Many wealth managers are reluctant to recommend annuities to their clients, while providers try to disassociate themselves from the product's scandal-plagued past.

Fintegra Financial Solutions announced that it will make FundQuest's Institutional Spectrum platform available to its financial advisers.

Assets that were held in U.S.-based exchange-traded funds increased 0.5% in July, to $578 billion, according to a monthly report from State Street Global Advisors, a unit of State Street Corp.

BNY Mellon Wealth Management, a unit of Bank of New York Mellon Corp., has announced the hirings of Frank S. Levin and William S. Wyman as senior directors.

Envision Financial, a credit union in Langley, British Columbia, said that it has chosen Qtrade Financial Group as its new partner for comprehensive wealth management services.

Assets held in hedge funds grew 4.41% during the second quarter, to $2.973 trillion, according to data released Monday.

Wachovia Corp. will buy back more than $8.5 billion of auction-rate securities as part of an agreement to end investigations by state regulators into the marketing of the complex securities.

Jettisoning a big chunk of its health savings account business at the end of 2006 has produced dividends for First Horizon National Corp., the head of its HSA unit said.

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