Wealth management

Toronto-Dominion Bank's TD Asset Management Inc. of Toronto launched two funds and added series extensions for three other funds Tuesday.

Manulife Financial Corp. of Toronto said it has completed its acquisition of Berkshire-TWC Financial Group Inc.

The Hartford health care benefits company Aetna Inc. has an agreement to acquire Goodhealth Worldwide, a Bermuda underwriting agent for international private medical insurance, from Primary Group Inc.

Despite a plunge in revenue, the makeover at Comerica Insurance Services is going exactly as planned, according to its top executive.

BancorpSouth Bank of Tupelo, Miss., and Northeast Bancorp said they are expanding their respective insurance operations.

EMC Insurance Group Inc. of Des Moines posted a quarterly dividend of $0.17 per share of common stock payable Sept. 17.

Fulton Financial Corp. has used acquisitions and a decentralized model to expand, but to build its wealth management arm, it is taking the exact opposite approach.

Nationwide Financial Services, Inc. announced enhancements to its lifetime income rider.

The Pittsburgh investment manager Federated Investors Inc. has completed its acquisition of Rochdale Investment Management LLC's $365.7 million Rochdale Atlas Portfolio, a mutual fund that invests in international stocks.

Merrill Lynch & Co. Inc. promoted Albert Lee to chief executive officer and chairman of its Taiwan operation.

Hedge fund assets increased 2.5% during the second quarter, to $1.67 trillion as of June 30, according to the Lipper Tass database.

Money Management Executive

First Horizon National Corp.'s Msaver Inc. health savings account unit has about half the customers as it did at the end of last year, but that is by choice, according to E. Craig Keohan, the unit's president.

State Street Corp.'s stock price declined Tuesday after a British newspaper reported it has significant exposure to asset-backed commercial paper conduits, which have caused problems for European banks.

Deutsche Bank Alex. Brown, the U.S. private-client services division of Deutsche Bank Securities Inc. and Deutsche Bank Private Wealth Management in New York, has announced the hiring of Russell Smith by the firm's Houston office as a vice president and client adviser.

New York Life Insurance Co. has announced the return of Steven D. Lash to the company as a senior vice president in the corporate finance department and the promotion of Richard J. Witterschein to first vice president and treasurer.

Advisers are less optimistic about the U.S. economic and political landscape than they were early this year, according to a study of independent investment advisers that was conducted by Schwab Institutional.

Mutual of Omaha Insurance Co. has formed a thrift holding company under which it would consolidate its three recent community bank acquisitions, according to an application filed with the Office of Thrift Supervision last month.