September 2009

SPECIAL REPORT: THE BATTLE FOR WEALTH

SPECIAL REPORT: THE BATTLE FOR WEALTH
Lyle LaMothe (L), head of U.S. Advisory, and Mark Alexander, managing director, head of technology, operations and Broadcort clearing for global wealth and investment management, Merrill Lynch

Wall Street Strikes Back
Brokerage firms such as Merrill Lynch, RBC and Fiduciary Trust are confidently investing in data integration projects and financial planning, asset allocation, rebalancing, risk analytics and client performance tracking and reporting tools to attract and retain high-performing advisers and wealthy clients.

Small Advisory Firms Look to Clouds, Aggregators
Small wealth management firms are saving money with a new wave of hosted technology, theyŐre aggregating data with services such as ByAllAccounts and CorrectNet.

State of the Merrill/BofA Union
According to Merrill wealth management executives the merger with Bank of America is exceeding expectations.

The New Wealth Management Landscape
As investors change their habits, the large wirehouses face a host of new competitors in the wealth management field.

The New Online Wealth Management Competitors
Sites such as MarketRiders and FiLife come closer to providing the type of financial advice typically doled out by financial advisers.

FOREIGN EXCHANGE
Forex Trading Provider Gain Capital Overhauls IT
Gain Capital has had to buy new networks, servers and software -- for the best of reasons: to accommodate a 50 to 60 percent increases in trade volume and spikes in the currency markets.

INNOVATION
Amidst the Gloom: Driving IT Infrastructure Innovation
With growth projects on hold, J.P. Morgan CIO Guy Chiarello says, now is the time to invest in infrastructure, clean up IT operations and drive hard bargains with vendors.

INTEGRATION
Wells Fargo Tech Exec Discusses Wachovia Integration
Much of the IT integration work still lies ahead in the closely watched acquisition.

FROM THE EDITOR
Making Sense of the Jobless Recovery
Even with advanced technology initiatives under way, many firms are taking a cautious approach to hiring during this long recovery.

CLOSE-UP
Central Clearing of Derivatives Could Help Prevent "Too Bigger to Fail"
WS&T Editor-at-Large Ivy Schmerken spoke with Chris Edmonds, CEO of the International Derivatives Clearing Group, about the value of central clearing in the interest rate derivatives markets.

ASSET MANGEMENT
Investment Adviser ProfitScore Capital Management Promises Hedge Fund-Like Returns In a Separate Account
Innovative quantitative advisory firm ProfitScore relies on multiple managers for index exposures while leveraging active mutual funds from inside a separate account.

UPFRONT
Professors Unveil Low-Cost Way to Diagnose Network Latency
University of California, San Diego, and Purdue University computer scientists today presented a way of identifying data center network delays as short as tens of millionths of seconds.

Shakeup of Wall StreetŐs Grid Vendors
DataSynapse has been acquired by Tibco, Platform Computing has bought HP clustering technology, and grids are trying to become clouds.

IBM, Omaha College to Offer Green IT Degree
Big Blue and Metropolitan Community College to turn out techies who can design energy efficient data centers.

Site Promises to Make Investing a Piece of Cake
Cake Financial introduces an automated premium service to analyze customer holdings and identify potential asset allocation improvements.

Do-It-Yourself Wealth Management Site, Mint.com, Adds Features
The competition between full-service wealth management firms and self-service websites has been kicked up a notch.

INDUSTRY VOICE
The Five Cs of Counterparty Credit Risk
In a punishing market for those who improperly handle risk, these tenets of credit risk management can be the difference between success and failure.

PERSPECTIVES
Regulators, Be Careful What You Wish For
While some change may be necessary, regulators must remember that even the smallest shifts in policy can have wide-ranging and unpredictable effects on the markets.