Wealth management

Janus Capital Group Inc. said Thursday that profits rose 80% in the first quarter as assets under management grew, but analysts and the market remained cautious about the long-struggling Denver money manager.

It's not uncommon for growing banks to dump their platform programs for full-service investment operations, but Guaranty Bank in Austin, Tex., is different.

Savings Bank Life Insurance Co. of Massachusetts on Wednesday reported record 2005 sales, making it the leading writer of ordinary life insurance in force in its home state for a ninth consecutive year.

Mellon Financial Corp. announced Tuesday that it had hired Ralph G. Powell 3d to be a vice president and senior sales director in the Pittsburgh banking company's private wealth management group.

Scottrade Inc., a St. Louis online brokerage firm, reported increases Tuesday in accounts, customer assets, and trading volumes during the first quarter.

After a sleepy 2005 in variable annuity sales, the outlook is brightening, an analyst says, and Jackson National Life’s first-quarter results — its best quarter ever for variable annuity sales overall, and best sales period in banks since the third quarter of 2003 — are an example.

Invesmart Inc., a Pittsburgh retirement financial services company, said Tuesday that it had agreed to be bought by StanCorp Financial Group Inc.

Evergreen Investments, Wachovia Corp.'s primary investment management arm, announced Tuesday that two veteran portfolio managers are retiring and named their successors.

Wells Fargo & Co. said Monday that it had agreed to buy the employee benefit trust business of Chicago's LaSalle Bank Inc., a unit of ABN Amro Holding NV of Amsterdam.

MetLife Investors Distribution Co. announced that it had hired two wholesalers Monday and promoted a third executive to increase its support of the bank channel.

St. Paul Travelers Cos. said Monday that it had expanded its ability to offer worldwide commercial property coverage for companies with international operations.

Lincoln Benefit Life Co., an Allstate company in Lincoln, Neb., announced Monday that it had introduced a Legacy Secure Survivorship Life insurance policy.

TD Ameritrade Holding Corp. in Omaha fired the latest salvo in the online brokerage fee-cutting wars Monday, offering a flat rate of $9.99 for all equity trades, regardless of the number of shares traded or the order type, and dropping other fees.

Axa Distributors LLC, a unit of Axa Financial Inc., the U.S. subsidiary of Paris-based Axa Group, said Friday that it had hired a former Lincoln Financial executive to increase annuity sales across all channels.

Invest Financial Corp. said Friday that it had hired Richard J. Koll to be a senior vice president of business development.

Applications for individually underwritten life insurance in North America declined in March, according to data released Friday.

Wilmington Trust Corp. reported Friday that its first-quarter earnings totaled $44.1 million, up 13% from the year earlier on growth in each business line, a 10% rise in loan balances, and a positive rate environment.

ABN Amro Asset Management announced Friday that it had a deal to sell the distribution rights to its U.S. mutual fund business for $38.6 million to Highbury Financial Inc. but will remain subadviser to the funds.