Matt Ackermann

The regulator announced Thursday it fined Merrill for “supervisory failures” and “for failing to provide certain required trade notices.” Merrill has provided $32 million in remediation, plus interest, to the affected customers.

LPL said the 18 participants, who collectively manage 159 bank advisors, in the inaugural class of its Sales Manager Coaching Program reported a 21% increase in gross dealer concessions 65% higher than those of LPL’s bank clients that did not participate in the program.

The Milwaukee-based company hired Brian Rauscher as a chief portfolio strategiest to run the new group

Fidelity has introduced the “Realizing the Value in Your Firm” program, which includes a series of workshops being conducted nationally to help advisors understand succession planning options.

Citi Private Bank hired Stephen Baird as director of its Houston branch, where he will provide private banking services to ultra-high-net-worth individuals and families.

The St. Louis financial services company announced that it plans to add up to 70 new offices in western Massachusetts in the next eight years.

Wells Fargo Advisors announced it has named Kent Christian, currently head of its financial services group, president of Wells Fargo Advisors Financial Network, the broker-dealer affiliate through which Wells Fargo Advisors supports independent financial advisors.

The June Money Anxiety Index rose to 91.1, after nearly a year of improvement in the level of consumer financial anxiety, as consumers worried about the potential for an economic slowdown.

Triad Advisors, a subsidiary of Ladenburg Thalmann Financial Services Inc., announced that Texas-based, Karsten Advisors has joined Triad as an independent branch office.

Morgan Stanley is expected to give notice it is exercising its right to purchase the additional stake in Morgan Stanley Smith Barney.

The hiring of Thomas Graham as a senior vice president of wealth management in Jannye's Washington, D.C. branch marks the 15th advisor to join the company this year.

Wells Fargo Advisors promoted John Peluso to president of First Clearing Correspondent Services, a registered broker-dealer and a non-bank affiliate of Wells Fargo & Co.

The company, which reported record sales last year, said retirement plan sales from Jan. 1 through March 31 were $1.8 billion, 40% higher than a year earlier and net cash flows reached $1.2 billion, marking the quarterly results in the Springfield, Mass., based company's 65 years in the retirement plan business, according to a press release issued Monday.

LPL has relationships with 680 banks and credit unions. Robert Comfort said in an interview that he expects to significantly increase LPL’s presence in the channel.

The first-of-its-kind program for military veterans, which the St. Louis company is calling FORCES, features enhanced training and mentoring, and structured compensation packaged designed for veterans. It also meets federal requirements for on-the-job training under the G.I. Bill.

Advisors know the days of buy-and-hold investors with 60/40 portfolio allocations are over. But if a 60/40 allocation is no longer relevant, what is the right mix?

The hiring brings the total number of employees in the Wichita office to four.

Institutional investors that began using exchange-traded funds for manager transitions, rebalancing and other tactical applications are increasingly using these products for more strategic purposes.

According to the 2012 Natixis Global Asset Management U.S. Advisor survey, the global financial crisis and uncertain market recovery has accelerated interest in alternative investing.

The companies, based in Fort Lauderdale and San Francisco respectively, have been fighting an uphill battles against larger competitors. They said in a press release Tuesday that the merger will create a firm, with the scale and resources to provide an alternative for independent investors.