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BlackRock forming an RIA advisory council
After seeking input from advisers on a new ETF lineup, BlackRock wants more so it plans to build an RIA advisory council.
Company was born after the third bourbon
Founded in 2009 by brothers Mike and Ryan Alfred, and Dan Weeks, Brightscope Inc. provides an online ranking service that tracks advisers and retirement plans. On the adviser side, the company provides information on -performance, experience, certifications, fees and conduct. On the retirement plan
Envestnet nabs Prudential Financial's wealth unit for $30 million
Envestnet Inc. has acquired Prudential Financial Inc's Wealth Management Solutions unit in a $30 million-plus deal to continue building its wealth management platform.The turnkey technology provider today announced a deal to pay $10 million in cash once the deal closes, plus a contingent
Size matters: Gundlach says DoubleLine will cap assets around $100 billion
Star fund manager says he doesn't want to resort to 'shadow markets' like derivatives.
Google the new Apple of big investors' eyes
Google Inc. was the favorite stock of both mutual fund and hedge fund managers at the end of last year, replacing Apple Inc., according to research from FactSet Research Systems Inc. and Citigroup Inc. The king of Internet search was among the top 10 holdings of 19 of the top 50 actively managed
OppFunds nabs ex-Columbia team for value funds
OppenheimerFunds is trying to give its value funds a boost with the help of a rival's team. The company last Thursday said that it has hired Laton Spahr, former manager of the $5.3 billion Columbia Dividend Opportunity Fund (INEGX), along with three other Columbia Funds veterans, to take over
Kashkari's Pimco exit may be more about performance than politics
Neel Kashkari said his desire to return to 'public service' was the only reason he left PIMCO.Two months before his unexpected departure in January as head of global equities at Pacific Investment Management Co., Neel Kashkari told top California Republican Party officials he was giving up the
Fees, rates, redemptions hit Fidelity
Investors pulled $5.3 billion in 2012; better than the $36.3 billion yanked in 2011.
BlackRock fixed-income chief Fisher moving to research
Peter Fisher, head of fixed income at BlackRock Inc., will leave his post to join the company's group that provides market research and analysis, according to a memo sent to employees.Fisher, 56, will become senior director of the BlackRock Investment Institute following the completion last year of
BlackRock going after individual investors
BlackRock Inc.’s Robert Kapito, president of the world’s largest asset manager, said the firm sees an opportunity to grow by selling more funds to individuals.“Retail is an enormous growth opportunity,” Kapito said today at the Credit Suisse Financial Services Forum. New York- based BlackRock is
American Funds back in the black, boosted by shift to equities
Buoyed by the flood into equities, American Funds finally recorded net positive inflows last month. The question: Where to from here?
Legg Mason close to naming new CEO: Report
Legg Mason Inc. (LM) is rumored to be close to announcing a new chief executive officer at some point this week, which would wrap up a five-month search and put interim CEO Joseph Sullivan into a new role in the company.Representatives at the Baltimore-based asset management firm did not respond to
Lawsuit against iShares puts spotlight on securities lending by ETFs
Exchange-traded funds' securities lending is back in the spotlight because of two pension funds that want a bigger cut of the profits. The Laborers Local 265 Pension Fund of Cincinnati and the Pipefitters Local No. 572 Pension Fund of Nashville have filed a lawsuit against BlackRock Inc.'s iShares
Investors flood Vanguard with record $24.3 billion in January
Vanguard Group Inc., the biggest U.S. mutual-fund firm, attracted a record $24.3 billion from clients in January, mostly into stocks, as signs of an improving U.S. economy have prompted investors to return to equities. January’s deposits were more than 40 percent greater than the previous monthly
Vanguard's got its own 'Apple' problem
Like Tim Cook at the iPad maker, Tim Buckley has some damn big shoes to fill.
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Mary Beth Franklin, InvestmentNews