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A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
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Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
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A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
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Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
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Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
July 26, 2006 at 11:26 AM
The Principal Financial Group Inc. plans to acquire the mutual fund management business of Washington Mutual Inc. for $740 million.
Principal, Des Moines, Iowa, has agreed to buy WM Advisors Inc. from Washington Mutual, Seattle, for cash. WM Advisors manages the WM Group of Funds and its subsidiaries.
WM Advisors has more than $26 billion in assets under management, including about $21 billion in the WM Funds. The firm provides investment advice for mutual funds, variable trust funds and asset allocation portfolios for about 800,000 fund shareholder accounts.
The transaction would bring managed assets for the insurer’s Principal Mutual Funds division to about $49 billion, from the current total of $28 billion.
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