Practice

Merrill Lynch has added industry veteran Daniel Sandlin from Morgan Stanley.

The firm has added a team with over $500 million in production to its southern California offices.

U.S. Treasury Secretary Timothy Geithner yesterday urged the Securities and Exchange Commission to pursue new rules for money-market mutual funds, triggering fresh opposition from industry leaders who had beaten back similar proposals and are pursuing a weaker overhaul.

The Investment Company Institute and the chairman of the ICI Money Market Working Group, William McNabb, who is also the chief executive officer of Vanguard, are speaking out against the Financial Stability Oversight Council’s meeting yesterday to discuss money market fund regulation.

Some planners join boards. Others volunteer for local causes. Sun Group Wealth Partners in Irvine, Calif., decided to build bridges with its community by funding memberships for about 1,000 families of kids with special needs like autism to a unique educational museum called Pretend City.

Prudential Retirement has strengthened its stable value team with the appointment of Michael Davis as its new head of stable value.

In fact, a couple age 65 might need $387,000 saved in order to be confident of covering their health care costs in retirement, not including outlays for long-term care.

One could only imagine what George Jefferson — the wise-cracking character who was “movin’ on up” on the 1970's TV hit, The Jeffersons — would have said about this predicament. The body of actor Sherman Hemsley, who played George Jefferson, has been kept on ice for the last 3 1/2 months.

An advisory committee organized under the Treasury Department on Tuesday voted unanimously to move forward with a set of proposed rules intended to stabilize money-market funds and prevent a run on assets similar to the jolt the market experienced during the financial collapse of 2008 and 2009.

Financial services companies that cater to advisors have a lot of room for improvement—especially insurance companies.