Portfolio

Participants in the 2013 CFO Outlook Mid-Year Update gave the U.S. economy an average score of 58 out of 100. This figure was up from 49 in the last survey conducted late last year. The global economy received a score of 51, up from 45.

The Securities and Exchange Commission charged Trendon Shavers with defrauding investors of nearly $150,000 worth of bitcoins through Bitcoin Savings and Trust, an online investment scheme he ran, and of making false claims while soliciting investments online in 2011 and 2012.

Demographics have led to desperation, and the next steps on that path have been towards the rich recruiting bonuses offered by wirehouses to productive advisors. Those tempting payments aren’t going away, but further improvements are “highly unlikely,” according to Mark Elzweig, who heads a New York-based executive search firm focusing on the asset management community.

Bloomberg — Herbert Allison Jr., the onetime president of Merrill Lynch & Co. who oversaw the U.S. government’s bank-bailout program following the financial crisis that led to his former company becoming a unit of Bank of America Corp., has died. He was 69.

The current market bodes well for certain sectors of stocks that have historically outperformed in rising rate environments, says a new Lord Abbett study.

Participants in the 2013 CFO Outlook Mid-Year Update gave the U.S. economy an average score of 58 out of 100. This figure was up f rom 49 in the last survey conducted late last year. The global economy received a score of 51, up from 45.

Your clients need help understanding and gaining insight into what makes it so hard to set financial limits with their children before they can curtail or slow down this behavior. Questions aimed at the underlying motivations are much more effective than showing them scary charts and graphs.

Independent broker-dealer Securities America is pressing ahead with its aggressive recruitment campaign, hiring three regional directors to help attract prospective independent advisors, the firm announced Tuesday.

Robert Khuzami, the former head of enforcement at the U.S. Securities and Exchange Commission, is joining Kirkland & Ellis LLP.

Earlier this month, Nuveen Asset Management revealed that its Chief Equity Strategist and Senior Portfolio Manager Bob Doll will be taking on a new slate of equity funds including traditional, specialty and alternative funds.