Wealth management

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T. Rowe Price Savings Bank of Baltimore unveiled Smart Ladder CDs, which allow investors to invest equally in certificate of deposit accounts with one-, two-, three-, four-, and five-year initial terms.

U.S. exchange-traded fund assets fell 5.4%, to $575 billion, in the first half, according to a study.

Despite the credit crisis — or perhaps because of it — there has never been a better time to invest in fixed-income products, particularly triple-A commercial mortgage-backed securities, according to portfolio managers at Putnam Investments.

National Retirement Partners Inc. of San Juan Capistrano, Calif., has agreed to buy the advisories Winn Gingras Financial Group of Nashua, N.H., and MHK Group of Madison, Wis.

UMB Financial Corp., a multibank holding company in Kansas City, Mo., has expanded its corporate trust and escrow services into the Indianapolis area.

State Street Global Advisors, the investment management arm of State Street Corp. of Boston, hired Chee Ooi as a senior portfolio manager in its global active equity group.

W.P. Carey & Co. LLC, a New York financial services company, has announced the hiring of Mark M. Goldberg to be president of its broker-dealer arm, Carey Financial LLC.

Wealth management firms are taking steps to better customize their services for clients with more than $1 million, industry observers say.

FolioDynamix, a New York company that sells unified managed account technology and services to financial services companies, has announced its purchase of SunGard Advisor Technologies Inc.

M&T Bank Corp. announced a significant expansion of its investment banking group.

BNY Mellon Wealth Management has announced the promotion of Joshi Gunputh to client relationship manager in its family-office services group.

Hartford Financial Services Group Inc. hired Marc Lieberman as president and chief executive officer of its European insurance arm, Hartford Life Ltd.

Despite slipping back to a net loss in the second quarter, Private Bank of California announced Monday that its bank assets increased during the quarter along with deposits and loans.

Vanguard Group Inc. said it had reopened its Vanguard Explorer Fund and its Vanguard Health Care Fund to new accounts.

Confidence among millionaires rose last month, according to a study by Spectrem Group Inc. of Chicago.

Curian Capital LLC of Denver, the separately managed account arm of Jackson National Life Insurance Co., is developing a managed account for investors who need their portfolio to produce regular income as they enter retirement.

Northern Trust Corp. of Chicago said it has hired Carl Lingenfelter, a pension trustee for the Chicago Transit Authority, as a manager of strategy for its corporate and institutional services division.