Wealth management

Broker-dealer Invest Financial Corp. plans to announce today that it will add 57 financial institution relationships through a purchase of contracts held and operated by PFIC Securities Corp., a subsidiary of Morgan Keegan & Co. Inc.

Millionaire households increased their charitable donations more than 20% last year, but such gifts are expected to decline this year, according to a survey.

Exante Financial Services has developed three different kinds of health savings accounts to expand in the market.

Dreyfus Corp., the New York mutual fund arm of Mellon Financial Corp., has hired Penny Hill as regional director of its Southern sales division.

National Bank of Canada and BNP Paribas SA have formed a joint venture to offer hedge fund managed accounts.

Bank Investment Consultant

Lehman Brothers promoted Roger B. Nagioff to global head of its fixed-income division, which is based in London.

Fidelity Investments Life Insurance Co. of Boston has launched five proprietary funds available through its variable annuity and life insurance products.

With strong returns from its international businesses, MetLife Inc. exceeded analysts' expectations when it reported that first-quarter earnings increased 37.7% from a year earlier, to $983 million, or $1.28 a share.

City National Corp. of Beverly Hills said it has completed its acquisition of Lydian Wealth Management, a Rockville, Md., investment manager for ultra-affluent individuals and families.

Charles Schwab Investment Management launched its first proprietary real estate securities fund.

Columbia Management, the Boston investment management arm of Bank of America Corp., has hired Patrick J. Ford as managing director and senior portfolio manager for cash investments.

American Life Insurance Co., a Wilmington, Del., subsidiary of American International Group Inc., named Joyce A. Phillips its president and chief operating officer.

PFPC Worldwide Inc. announced Tuesday that it will supply back-office services to BB&T Asset Management Inc.'s mutual funds.

Jackson National Life Insurance Co. has introduced three guaranteed minimum withdrawal benefits, a guaranteed minimum accumulation benefit, and several subadvised options in its annuities.

Fifth Third Bancorp is laying the groundwork for distributing its mutual funds through third parties.

TD Ameritrade Holding Corp. launched a family of target-date portfolios made up of exchange-traded funds.

Lexington Insurance Co., a subsidiary of American International Group Inc., introduced a product for accounting firms.