Wealth management

Sentry Select Capital Corp. in Toronto said Thursday that it has raised the annual service fee it pays to dealers for Series A units of Sentry Select Focused 50 Income Fund from 0.50% to 1.25%.

Though an increasing number of banking companies are moving into the health savings account business, some experts say most of them should not expect the product to become a large revenue driver anytime soon.

The Greenwich-Van Global Hedge Fund Index gained 2% in November and is up 7% for the year through Nov. 30, according to hedge fund index provider Greenwich-Van Advisors LLC.

Old National Bank in Evansville, Ind., announced Tuesday its health savings account entry.

National Union Fire Insurance Co., a Pittsburgh member company of American International Group Inc., Tuesday unveiled Hedge Fund Protector, an insurance policy designed to protect hedge fund managers, directors, and officers against liability exposures and potential litigation.

Fidelity Investments suffered three straight months of outflows from its stock and bond funds in late summer and early autumn, according to Financial Research Corp., but the Boston mutual fund giant called the streak "cyclical" and said inflows were robust in November.

The first Bush tax cut will create an imperative next year for companies that sell employer-sponsored retirement plans to begin offering Roth 401(k) and Roth 403(b) plans in order to remain competitive, people in the industry say.

NASD said Tuesday that it had fined Chase Investment Services in Chicago, a unit of JPMorgan Chase & Co., in connection with alleged market timing by a hedge fund client.

S&T Bank in Indiana, Pa., said Monday that it has a definitive agreement to buy Holsinger Agency Inc. on Jan. 1.

Massachusetts Mutual Life Insurance Co. announced Monday that it had hired Mark Roellig to be an executive vice president and its general counsel.

TD Bank Financial Group's wealth management arm said Monday that it plans to terminate its family of exchange-traded funds.

A year after Zions Bancorp launched it as its asset management unit for wealthy customers, Contango Capital Advisors is drawing assets from wealthy individuals by mining the parent's network of affiliates.

TIAA-CREF elected an educator to succeed former Fannie Mae president and chief executive Franklin D. Raines on the TIAA and CREF boards of overseers.

United HealthCare Services Inc. of Minneapolis will start offering a health reimbursement account for small companies through brokers and agents on Jan. 1.

Alliance Capital Management LP of New York said its assets under management increased 3.4% in November, to $568 billion.

Lower investment minimums for hedge funds and similar alternative investments may increase regulation of how they are invested and marketed, raising compliance costs for banks and other sponsoring companies, according to several analysts.

Hedge funds returns increased in November, according to data released Friday by Standard & Poor's Corp.

RiverSource Investments LLC of Minneapolis, the investment management unit of the American Express Co. spinoff Ameriprise Financial Inc., has hired a Turner Investment Partners Inc. sales official to lead institutional and hedge fund sales in the Midwest.

Hub International Ltd. said Thursday that it had bought Impact Insurance Services and consolidated it with Hub International Midwest's financial institutions business.