Margarida Correia

Almost one in two consumers (47%) say they keep the majority of their assets with banks, up from 44% in 2011. Self-directed firms and full-service brokers, in contrast, had only 28% and 15% of the market, respectively.

Even though six in 10 women are concerned they aren’t saving enough to last throughout their retirement, few are taking steps to mitigate this risk.

U.S. Bank hired Joe Weidenbach as Chicago market leader for The Private Client Reserve, the bank’s high-net-worth wealth management business.

Webster Bank has recruited Daniel FitzPatrick from BNY Mellon Wealth Management to lead its recently launched private bank.

Boston-based Eastern Bank has named Michael Tyler chief investment officer of its wealth management division.

Northern Trust promoted Darius Gill to managing director of Foundation & Institutional Advisors, the bank’s advisory group for middle-market non-profit institutions.

Consumers are increasingly going online to research insurance and annuity products, but the Internet is far from displacing insurance professionals from their roles.

For the week ended Oct. 3, investors yanked an estimated $10.6 billion from U.S. stock mutual funds, bringing total outflows for the year to more than $103 billion.

More than one-third of the nation’s largest pension plans and institutional investors believe that traditional investing approaches will not be effective in 10 years.

Chris Martin and Caryn Cosentini joined the team as senior vice presidents and senior private bankers.

Some 25 million people a year are thinking about social security, opening a door to a massive market for advisors, Bill Meyer, founder and CEO of Social Security Solutions, said at the Retirement Income Industry Association conference.

Fewer people are making a clear transition into retirement and the trend is creating unique challenges for advisors.

Global wealth management firms engaged in 65 M&A deals from the beginning of 2011 to the end of the third quarter of 2012. During that time, $635 billion in assets under management changed hands.

BNY Mellon Wealth Management has added three senior portfolio managers and two senior directors for business development to its Southern California team.

Since it was formed last year, Citi Private Bank's North America Asian Clients Group has increased its client base by 10percent and its assets under management by over 40 percent.

Mary Martuscelli, a 33-year J.P. Morgan Chase veteran, will be responsible for growing and managing all aspects of the wealth management business in Washington, Oregon, California, Arizona, Nevada, Utah and Colorado.

Citi Private Bank has hired foreign exchange trading expert Oscar G. Salem as director and foreign exchange investment specialist. In this newly created position, Salem will oversee the bank's currency business in the Southwest region.

The economics that drove up the costs of traditional pension plans are showing signs of slowing down and that could augur their comeback.

Fidelity Institutional Wealth Services has long provided trust companies and banks with custody services for the mutual funds they offer. Now the firm is expanding those capabilities to become a "full-service custodian" for all bank and trust asset classes, including equity and fixed-income securities and money market funds, Fidelity announced today. …

More than four in 10 investors (41%) view themselves as "very inexperienced" with investing, up from 27% last year.