Friday's Headlines: Are portfolios-to-go Wall Street's next big thing?

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Low-cost portfolio managers that sell prepackaged portfolios such as MarketRiders and Folio Investing are being eyed as the new wave of investing, as such products have attracted more than $3 billion in assets over the last three years, according to Businessweek .

These services are designed to tap the market of attract smaller, self-directed investors with monthly fees as low as $10 -- an underserved group, as traditional brokerages are focusing more on high-net-worth individuals. The article quotes the head of one such firm: "We're trying to deliver institutional-class asset management to the masses."

Other news:

JPMorgan Chase paid its CEO Jamie Dimon $20.8 million last year, up from $1.3 million in 2009 and marks his first bonus since 2007. [DealBook]

Goldman bought a 12% stake in China's Taikang Life Insurance. [Reuters],?p>

Cerberus and Centerbridge are among the five firms bidding for Citigroup's U.S. consumer-lending unit. [Reuters]

Private equity firms are turning to deep-pocketed LPs as they chase bigger deals and seek to avoid conflict with rivals. [Reuters]

California Institute of Technology ranked No. 1 in Bloomberg's ranking of colleges for return on investment, with a 30-year ROI of more than $1.8 million. [Bloomberg]

Royal Bank of Canada is seeking buyers for its money-losing consumer bank in the U.S. [Bloomberg]

UBS's wealth management division added a net of 7 advisers and $4 billion in assets, the most of any firm. [Investment News]

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