Financial planning

by Bob Rywick

by Melissa Klein

FPA Lauds Disclosure of Fund Conflicts, Urges NASD to Expand Disclosure: The Financial Planning Association has lauded a rule that was proposed by the National Association of Securities Dealers to expand disclosure of sales incentives by stockbrokers in the sale of mutual fund shares, but said that it doesn’t go far enough.

by Bob Rywick

by Cynthia Harrington

E*TRADE to Rebate Fund Fees: Online broker E*Trade announced plans to rebate half of the fees that it usually collects from its mutual fund shareholder customers to lure investors.

Atlanta - Non-wrap mutual funds were cited as the most widely used investment product, both in terms of the number of practitioners using mutual funds and the percent of client assets allocated to funds, according to a report by the Financial Planning Association and Financial Research Corp.

by Bob Rywick

by Melissa Klein

Former Block Exec Named Investors Management Group Prexy: Investors Management Group, an institutional asset management firm focused on serving foundations, endowments, financial institutions, insurance firms and public funds, has named James I. Mackay as its president.

by Bob Rywick

by Melissa Klein

State Street to Sell Private Asset Management Biz to Schwab: U.S. Trust Corp., a subsidiary of Charles Schwab, signed an agreement to acquire the private asset management business of State Street Corp. for about $365 million in cash.

by Bob Rywick

by Melissa Klein

Veteran Tax Lobbyist Joins FPA: Veteran tax lobbyist William R. DeReuter has joined the Washington staff of the Financial Planning Association as assistant director of government relations.

Washington - The Internal Revenue Service is streamlining its system of voluntary correction programs designed to help retirement plan sponsors and administrators retain the favorable tax status of their plans, including simplifying the fee structure for voluntary submissions.

by Bob Rywick

by Cynthia Harrington

Americans Increasingly Worried About Finances: Many Americans, particularly the young and the least affluent, are increasingly worried about their personal finances, according to a survey by the Consumer Federation of America and the Financial Planning Association.