Practice

Given the opportunity to approach their retirement savings again, 51% of affluent Americans who have retired said they would have preferred to have focused on life goals rather than a retirement number, Merrill Lynch found in a survey. However, the remaining 49% still believe in zeroing in on the numbers.

Like any public policy, the Obama administration's proposed bank tax will likely yield some unexpected outcomes.

Given the opportunity to approach their retirement savings again, 51% of affluent Americans who have retired said they would have preferred to have focused on life goals rather than a retirement number, Merrill Lynch found in a survey. However, the remaining 49% still believe in zeroing in on the numbers.

RBC Wealth Management has hired John Menefee and Tom Meagher from Morgan Stanley Smith Barney to join its Bend, Oregon branch.

BrightScope is offering a Personal 401(k) Fee Report that will permit investors to sign up for free to see fees on 30,000 plans, how they compare to fees on comparable funds and how much money they would gain or give up over the remaining course of their working years.

The two veteran Cincinnati-based advisors managed $226 million in client assets and generated $2.2 million in fees and commissions for Smith Barney.

The Managed Funds Association has formed an alliance with the Connecticut Hedge Fund Association whereby the MFA hopes to further unify and strengthen the hedge fund industry.

WASHINGTON — While much of the industry's attention is centered on congressional efforts to revamp financial services, a proposal from the Basel Committee on Banking Supervision also could significantly rewrite the rules of banking.

A new survey by the Investment Company Institute finds that most Americans are still confident that their 401(k) plans can help them reach their retirement goals, but last year's 31% average drop in account balances has also highlighted the need for improvements to this popular, critical retirement vehicle.

The fundamentals of what advisers need from wholesalers are changing, and wholesalers have no choice but to adapt. Our research at kasina concludes that wholesalers should focus on serving advisers' needs for: