Margarida Correia

Michael Cabanas, a former managing director at Fiduciary Trust International, will be responsible for sales in the firm’s Southeast US region.

Projections call for a 1.9% economic growth rate, below the 2.2% average growth in the first three years of recovery since the Great Recession: TD Economics.

Anne Copeland, the newly appointed head of Private Wealth Management, anticipates a “good bit of organic growth” from one of the most basic of business activities.

In 2012, banks sold $1.6 billion in life insurance premium, the second highest annual production level ever in the bank channel.

In 2012, banks sold $29.6 billion in annuities, down 20% from 2011. Fixed annuities fell 33% to $11.9 billion, while variable annuities slipped 10% to $17.7 billion.

Heather Borelli, a former senior associate of Abbot Downing, will provide clients of the bank’s Private Client Reserve unit with integrated investment services.

For the week ended March 13, investors steered a paltry $1.64 billion into bond funds, a whopping 74% drop from the $6.42 billion they poured into the funds a week earlier.

The Pasadena-Calif.-based bank decided to move its program because of Cetera’s technology platform, product menu, reporting capabilities and the training it provides advisors.

Almost half of American workers and 36% of retirees lack confidence that they will have enough money for a comfortable retirement—but few are turning to advisors for help.

Umpqua Private Bank plans to add 20 to 25 private bank advisors over the next five years, a move it anticipates will help grow the business to more than 10 times its current size.

For the week ended March 6, investors steered an estimated $11.85 billion into mutual funds, up 41% from the previous week.

Ty Schlobohm and Mark Ambrose joined as private client advisors, while Mark Broderick joined as a private client consultant.

More than two-thirds of advisors (68%) have no formal succession plan for their businesses and among those who do, the plans are sketchy.

Paul Springmeyer joined the bank’s Private Client Reserve unit as a senior portfolio manager and John Ostrand joined as a trust officer.

More than one in five worry they may not be doing enough to make a difference, with 82% subscribing to the belief that greater wealth brings a greater obligation to be philanthropic.

The New York Hudson Valley thrift seeks to make wealth management an important core business line and not just a tertiary line.

Survey respondents estimate they will need on average about $66,000 in annual income, significantly less than their current average income of $115,000.

More than a third (35%) plan to spend all or part of the refund, while only 16% will save it. Nearly a quarter (22%) will use the refund to pay down debt and 4% will invest their returns.

More than eight in 10 Americans (84%) expect to see their dentist this year for regular cleanings while less than half (43%) plan to meet with their financial advisor to review their investment strategies.

Robert Stevenson, a 14-year veteran of Northern Trust Co., will provide high-net-worth clients with integrated investment services.