Matt Ackermann

“We are planning for the worst case scenario,” Robert Glovsky, the board’s chairman, said in an interview Friday. “We are worried that there will be fallout and we are planning accordingly.”

Despite some vocal opposition, the Certified Financial Planner Board of Standard’s board of directors approved a controversial 80% fee increase to support a national public awareness campaign to raise awareness about CFP certification.

The average account balance for pre-retirees, aged 55 years or older, rose to $211,300 by the end of the third quarter from $96,000 ten years ago.

Joe Moglia, was introduced Wednesday as the president and head coach of the expansion Virginia Destroyers of the United Football League.

The deal was originally announced in August. Windward had $4.24 billion in client assets under management as of Sept. 30.

Chen, who was president of Morningstar’s Ibbotson Associates unit, will oversee the company’s investment consulting, retirement advice, and investment management operations in North America, Europe, Asia, and Australia, including Morningstar Associates, Ibbotson Associates, Morningstar Investment Services, Old Broad Street Research, and Seeds Finance.

FINRA sanctioned the New York-based company with a $650,000 fine and ordered it to review its procedures and systems and document corrective measures

The Securities Industry and Financial Markets Association announced Turesday it elected John G. Taft, RBC Wealth Management’s chief executive officer, as the association's chairman for next year.

Through the first ten months of this year, BofA has conducted more than $2 billion in conversions, up from $111 million in conversions through the first ten months of last year.

“We have just established a framework,” the Connecticut Democrat said at SIFMA's annual conference on Monday. “The rest is up to regulators and many in this room. It is the government’s duty to set the parameters and remain a vigilant watchdog.”

“Everything feels better than it did 12 to 18 months ago, but not as good as it did three to six months ago,” he said during a lunch time interview with Charlie Rose on Monday at SIFMA's annual conference in New York City.

“Financial institutions and Wall Street’s favorability rating is below Congress, which is a feat unto itself right now,” a speaker at SIFMA’s annual conference said Monday.

As expected, Republicans regained control of the House. But what's next for the economy as a result?

James P. Gorman, the Wall Street giant’s president and chief executive officer, said during a presentation at SIFMA's annual meeting Monday that Morgan Stanley plans to buy the next 14% of Morgan Stanley Smith Barney as soon as May 2012.

The Denver-based company hired Edward DeMarino as vice president and director of financial institutions.

The Stamford, Conn., based company, which has $6.5 billion in assets under management, opened Chilton Trust Management LLC in Palm Beach, Fla., to provide full-service, private wealth management services including: asset allocation advice and portfolio management.

The new offerings were developed in response to client demand for actively managed emerging market equity and global bond strategies.

Wilmington's top executive said "there is no significant economic or real estate recovery on the horizon in our markets. Therefore, we have little assurance that our loan portfolio will strengthen significantly in the near term, or that our capital position will not erode further."

BofA Merrill Lynch advisors amass $244 billion in cash deposits as clients try to circle their financial wagons.

Barclays Wealth announced Wednesday that it hired a former Deutsche Bank executive to run its Washington, D.C. office.