Margarida Correia

Northern Trust hired Randall S. Burkert, a 20-year Goldman Sachs veteran, as managing director of development for its wealth management arm.

Almost one quarter of Americans (23%) have less than $100 in emergency savings while 46% report having less than $800, according to a new national survey by online lender CashNetUSA.com.

As PenFed moves investment program back to former third-party marketer CFS, it sets sights on previous AUM mark of $250 million.

For the week ended Sept. 12, investors pulled an estimated $2.75 billion from funds that invest long-term in U.S. stocks, marking the eighth consecutive week of outflows.

Wintrust Financial Corp. plans to acquire HPK Financial Corp., the parent company of Hyde Park Bank and Trust Co.

Michael Mortensen, the former president and CEO of PNC Investments, will oversee Union Bank's brokerage operation and all the registered representatives.

North America led the drop in global confidence, falling 8.7 points to 84.4.

More than 75% feel confident they will have enough money to live comfortably in retirement, even though nearly 40% of Baby Boomers and about two-thirds of Gen Xers have less than $100,000 in retirement savings.

Eighty-three percent employers made 401(k) advice available to plan participants, up from 42% in 2005, according to new data from Charles Schwab.

BOK Financial Corp. has acquired The Milestone Group, a Denver registered investment advisor. The acquisition enhances BOK's presence in Denver and brings its assets under management and administration across all its subsidiaries to nearly $50 billion, the company said in a statement. BOK has maintained a presence in Denver through its local bank brand, Colorado State Bank and Trust, a 100-year-old company. The acquisition will strengthen the Colorado bank's wealth management business. .

For the week ended Aug. 15, investors pulled an estimated $2.67 billion from funds that invest in U.S. stock mutual funds, substantially less than the $3.56 billion withdrawn the week before.

Drew Brahos and Bruce Wetter will advise clients on portfolio management strategies and contribute to the team's investment research.

New tools to help bank advisors are getting top billing at LPL Financial's annual Focus Conference. But a key new hire to help in those efforts may not be announced officially until the three-day conference is over.

Annuity sales in the second quarter of 2012 totaled $57 billion, down 8% from the year-ago quarter, according to LIMRA.

More than three in four advisors expect to continue selling variable annuities and allocate 11% of their assets under management toward these products, according to Cogent Research.

The stock fund exit stampede continued last week, but at a slower pace. Investors withdrew $3.56 billion the week ended Aug. 8, down significantly from $5.65 billion the previous week.

Norman Greenidge will be responsible for meeting the wealth management needs of professional athletes through Northern Trust's core services of financial planning, investment management, trust and estate planning and private banking.

Susan Pickering will lead a team of relationship managers for high-net-worth clients and retirement plan services for institutions.

Seventy-five percent of variable annuity buyers, 86% of indexed annuity buyers and 86% of traditional fixed annuity buyers reported being satisfied with their annuities.

Since the beginning of the year, U.S. stock funds have lost more than $64 billion in outflows.