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Advisor transparency in Morningstar platform

Advisor transparency in Morningstar platform

Posted by RJ & Makay on April 9, 2012

Morningstar announced last week that it would begin to include advisor fee and commission data from PriceMetrix Inc. in its advisor workstation platform.  The news was generally received well by advisors though many were concerned that greater transparency would lead to lowball pricing.  Detailed pricing information provides insights into advisor ...

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advisor-fee-models, advisor-fee-transparency, assets-under-management, financial-advisor, morningstar, pricemetrix, wealth-management

Net variable annuity sales strongest since 2007

Net variable annuity sales strongest since 2007

Posted by RJ & Makay on March 14, 2012

Net variable annuity (VA) sales in 2011 were the strongest since 2007, the Insured Retirement Institute (IRI) reported Monday.  The insurance segment’s total year’s net sales came in at $27.7 billion, a 28% increase from 2010.  Fourth quarter 2011 net VA sales rose almost 35%, to $7 ...

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beacon-research, fixed-annuity-sales, gross-variable-annuity-sales, insured-retirement-institute, morningstar, net-variable-annuity-sales, total-annuity-sales

American Funds continues slide

American Funds continues slide

Posted by RJ & Makay on January 23, 2012

Mutual fund company American Funds had outflows of $82 billion in 2011, or 9% of total assets, according to Morningstar.  Once a favorite of financial advisors, the fund group has had lagging performance for the past several years, and recent outflows represent an industry record, far more than the $28 ...

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american-funds, cerulli-associates, diversified-funds, etfs, fidelity, morningstar, risk-aversion, vanguard

Mutual funds underperform in 2011

Mutual funds underperform in 2011

Posted by RJ & Makay on January 5, 2012

Mutual fund performance in 2011 brought some surprising results, according to Standard and Poor’s and Morningstar analysts.  Despite the positive outlook at the beginning of the year in emerging markets such as China, India and Brazil, portfolios heavily weighted in emerging markets had some of the largest losses for ...

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emerging-markets, fairholme, ing-corporate-leaders-trust-fund, janus-overseas, morningstar, mutual-funds, sequoia-fund, standard-and-poors, sun-america-focused-dividend-strategy-portfolio, vanguard-emerging-markets-stock-index-fund

ETF shake out may prune offerings

ETF shake out may prune offerings

Posted by RJ & Makay on October 25, 2011

In the first six months of 2011, 248 new Exchange Traded Funds (ETFs) hit the market. This brings the total number of ETFs to over 1,000.  The industry seems to be thriving with these funds that offer easy access to a diverse range of investment opportunities.  But a deeper ...

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assets-under-management, brad-reynolds, etf, etf-trading-volume, expense-ratios, holdrs-funds, ishares, ljpr, morningstar, sp-capital-iq, todd-rosenbluth

Morningstar will utilize color designations for upcoming analyst rating system

Morningstar will utilize color designations for upcoming analyst rating system

Posted by RJ & Makay on September 29, 2011

Morningstar has changed how they will designate ratings in the upcoming release of its forward-looking analyst rating system.  Instead of its previously announced AAA, AA and A positive ratings, the system will use color-designated ratings of Gold, Silver and Bronze. The move is designed to head off any confusion between ...

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analyst-color-ratings, analyst-picks, don-phillips, morningstar, morningstar-star-ratings

TIAA-CREF to manage California’s 529 college plan

TIAA-CREF to manage California’s 529 college plan

Posted by RJ & Makay on June 20, 2011

California has chosen TIAA-CREF to manage its college savings plan that contains about $4 billion in assets. The ScholarShare Investment Board that oversees the state’s 529 program voted this past Monday to award the investment management firm a five-year contract. TIAA-CREF will replace current manager Fidelity Investments, whose contract ...

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california-529-plan, federal-taxes, fidelity-investments, joe-deanda, management-fees, morningstar, scholarshare, scholarshare-advisor, state-taxes, tiaa-cref, tom-dresslar

Bank of America sells its remaining Blackrock shares to Blackrock

Bank of America sells its remaining Blackrock shares to Blackrock

Posted by RJ & Makay on May 23, 2011

Bank of America is selling its remaining 7% stake of Blackrock to Blackrock for $2.5 billion.  Blackrock is buying the stake, 13.6 million shares, at 187.65 a share, a 3.6% discount on the average closing price of the shares over the past 15 trading days.

The ...

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asset-management, bank-of-america, basil-iii, blackrock, glenn-schorr, gregory-warren, jerry-dubrowski, lawrence-fink, merrill-lynch, morningstar, mutual-funds, nomura, standard-poors-500, tom-montag

Two large Janus funds dropped by Merrill

Two large Janus funds dropped by Merrill

Posted by RJ & Makay on May 19, 2011

Janus Capital Group Inc. (JNS) had two of its largest equity funds pulled from a Bank of America Merrill Lynch model portfolio, according to insiders familiar with the situation.  The Denver-based mutual fund company has been struggling to reverse almost two years of customer withdrawals.

The Janus Twenty Fund and ...

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alternative-investments, bank-of-america, charles-schwab, customer-withdrawals, janus-capital, janus-forty, janus-twenty, merrill-lynch, michael-kim, model-portfolio, morningstar, onesource-select, outflows, richard-m-weil, sandler-oneill

BATS Global Markets going public

BATS Global Markets going public

Posted by RJ & Makay on May 16, 2011

BATS Global Markets has filed for a $100 million initial public offering as it seeks cash during the busiest time of industry takeovers.

The electronic platform, which started trading shares with two Nasdaq customers about five years ago, has grown into the third largest exchange in the U.S. with ...

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bank-of-america, bats, chi-x-europe, citigroup, credit-suisse, dave-cummings, electronic-platform, getco, ipo, joe-ratterman, london-stock-exchange, michael-wong, morgan-stanley, morningstar, nasdaq, nyse-euronext, tabb-group