Turnkey Asset Management
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Wirehouse Assets: Still Leading, but Losing Market Share
By Janet LevauxThe four wirehouses continue to dominate the list of sponsors of separately managed accounts for the second quarter of this year, according to a research report just issued by the Money Management Institute and Dover Financial Research.
August 30, 2010
Wirehouse Watch: Why Merrill Lynch's Results Top Morgan Stanley'sProfits and margins at BofA-Merrill are well ahead of those at Morgan Stanley Smith Barney, despite MSSB's larger advisor force.
August 25, 2010
Baird Hires Nine FAs From Morgan Stanley, Adds Two BranchesBaird on Tuesday has hired nine financial advisors from Morgan Stanley Smith Barney in Charleston, S.C., and Fort Worth, Texas, with about $1.3 billion in total client assets.
August 23, 2010
Columbia-RiverSource to Streamline 62 FundsThe proposed mergers are part of Ameriprise's acquisition of the asset management business, which has about $330 billion in AUM.
August 23, 2010
Columbia-RiverSource to Streamline 62 Fund OfferingsColumbia Management Group says that it has proposed 62 fund mergers as part of the sale of its long-term asset-management business to RiverSource Investments, which is owned by Ameriprise Financial.
August 11, 2010
Clearbrook Wins Away IPC Business From Troubled Jesup & LamontIndependent Portfolio Consultants (IPC) has transferred 1,400 client accounts worth over $1 billion away from troubled broker-dealer Jesup & Lamont Securities Corp. to the broker-dealer subsidiary of Clearbrook Financial.
August 06, 2010
Allianz SE Loses Profits, as PIMCO Helps Unit Double EarningsThe European insurer's North American life insurance unit says premiums were "ahead of expectations."
August 06, 2010
Allianz SE Loses Profits as PIMCO Helps Unit Double EarningsAllianz SE (AZSEY), Europe's largest insurer, said its second-quarter profits fell nearly 50%, largely due to the sale of shares in Industrial & Commercial Bank of China and a write-down in its investment in Hartford Financial Services Group Inc.