Margarida Correia

Regions Insurance opened a new office in Columbia, S.C., its first in South Carolina. The new office is the third significant addition to Regions Insurance in the last six months.

In the second quarter of 2013, wealth management and investment services generated $8.9 million in income, up $1.7 million, or 23%, from a year ago.

Andrea Kaempf, formerly of Bank of America, will lead the personal wealth team of U.S. Bank’s Private Client Reserve HNW unit in Washington State.

The wealth manager hired a sales director and a senior mortgage banker in Washington and added seven wealth professionals to the Philadelphia team.

The tools were developed to help the “woefully low” number of people on track for a secure retirement and compel them to take action.

Banks could boost the profitability of their wealth management programs if they integrated their private banking, trust and brokerage businesses.

One expert predicts that at least half of the top 30 U.S. banks will move advisors to a salary-based compensation system in the next two to three years.

The Milford, Mass.-based bank was drawn to Infinex’s technology and lead generation process.

Timothy Throckmorton will oversee and help grow the personal trust and estate administration business.

While most see HSBC’s decision to change advisor compensation to salary and bonus as risky, some see merit in the move.

HSBC made the switch to align the compensation structure for advisors in the U.S. with those in the rest of the global bank.

Financial markets are too complicated to navigate without an advisor, say the vast majority of affluent investors.

During the week ended June 19, investors yanked an estimated $7.97 billion from taxable and municipal bond funds.

51% of American adults would switch advisors or begin working with one for the first time if provided with a written retirement income strategy for them.

More than one in four Baby Boomers and Gen Xers who otherwise would have had adequate retirement income are projected to run out of money if rates remain as they are.

The new offerings bring the total number of Merrill Edge Select Portfolios to 12—the original 10 are primarily focused on total return.

The addition of three sales directors in Miami, West Palm Beach and San Francisco are part of the wealth manager’s long-term campaign to boost its sales force by 50% by 2014.

Financial institutions should develop distinct service offerings for young investors that speak to them at their life stage.

Cetera will provide the Wells, Minn.-based bank with wealth management services and support, including the investing tools clients need.

The Bakersfield, Calif.-based financial institution was drawn to LPL’s retirement planning capabilities, technology platform and in-house insurance services.