Practice

Generation X and Y are warming up to investing more than any other age group, according to a survey by MFS Investments. But they remain largely reticent investors.

FINRA ordered Santander Securities of Puerto Rico to pay $2 million in fines and review its procedures that resulted in customer losses.

A new study published by Aite Group found that financial advisors can better leverage customer relationship management systems.

Washington Wealth Management, a Middleburg, Va., based registered investment advisory firm, announced it hired Jordan Ball as a regional vice president for its newly opened Richmond, Va., office.

There’s no doubt that starting an advisory business can be harrowing, but finding good people to eventually take over your business may be even harder, says John Brackett, a regional director with Financial Network Investment Corp.

And 50% of workers are not sure they will have enough money to live comfortably in retirement, EBRI survey funds.

Forget retiring to a tony townhouse or a beach property in a warm climate. Clients are more concerned about having enough money for daily necessities, according to financial advisers polled by Sun Life Financial recently.A whopping 92% of advisers who responded to the Sun Life Financial study said their clients change their retirement income plans after retirement mainly to avoid running out of money, or to meet non-discretionary costs. More than one third, 34%, said clients adjust their plans to cover essentials, like unexpected healthcare costs. Just 21% said clients adjust plans to have more money for discretionary spending. Sun Life polled 477 financial advisers in March for the study.

Even though 68% of workers are saving for retirement, nearly half, 46%, have less than $10,000 saved for retirement, and 50% are not confident they will have enough money to live comfortably in retirement, a survey by the Employee Benefits Research Institute found.

UBS will pay up $2.5 million in fines and $8.25 million in restitution for allegedly botched sales of Lehman Brothers principal protection notes.

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