Investment Instruments

Vanguard attracted a record amount of net cash inflow through November 2012, surpassing a previous record set by JP Morgan in 2008.

Sun Life Financial's decision to unload its U.S. annuity business through a sale to Guggenheim Partners may expose some of the difficulties in financing the products.

Getco is buying rival trading firm Knight Capital in a cash-and-stock deal that could be worth more than $1 billion. The deal comes just four months after a major software malfunction at Knight roiled markets and threatened the company's survival.

The private equity firm Cerberus will sell off its ownership in a major U.S. firearms company, a nod to complaints from the California teachers' pension system.

Bonuses on net new assets in 2013 are tied to fee-based flows, loans and other products, though benefits for retiring advisors can be generous.

While pre-retirees look for guarantees and stability in their investments, more innovative annuity solutions will come to the market in the new year.