Envestnet Closes on Acquisition of FundQuest
By James J. GreenEnvestnet, headed by Judd Bergman, pays $24 million for FundQuest; $8 billion added to Envestnet platform. FundQuest CIO Clift to become chief investment strategist at Envestnet|PMC.
December 01, 2011
Timing of SEC’s Fiduciary Rule Debated at CFA ConferenceWhile optimism remains that the Securities and Exchange Commission will issue a rule putting brokers under a fiduciary mandate, the question being debated among industry and consumer officials is exactly when it will happen.
November 28, 2011
Reality CheckI was recently accused by one of my friends of being a numbers guy, which, as a former philosophy major and professional journalist, I found quite amusing.
November 28, 2011
SEC Charges Three Advisors With Compliance ViolationsThe SEC on Monday charged three investment advisors for failing to put in place compliance procedures designed to prevent securities law violations.
November 23, 2011
Disclosure UpheavalIn 2012 two new fee disclosure regulations will take effect for 401(k) and similar retirement plans. These new regulations were issued and will be enforced by the Department of Labor (DoL) and the IRS.
November 21, 2011
DeVoe Departs Schwab to Form Advisor M&A Consulting FirmWill provide strategic consulting and valuations, and arrange financing for mergers and acquisitions for advisors.
November 21, 2011
BondDesk’s New Partnership With Trade West Creates ‘Retail Supermarket for Bonds’BondDesk's deal with Trade West gives investors access to individual bond sales via third-party platforms that compete with the BondDesk automated trading system.
November 18, 2011
Asset Management Will Face Greater Headwinds in 2012: McKinsey ReportThe U.S. asset management industrys apparent resilience has temporarily masked serious challenges related to costs, productivity and growth, according to a report by McKinsey & Co.