Industry

Many advisors discover their life's work after trying other careers.

For planners who specialize in assisting members of the military, the job often feels like a calling.

In light of looming changes in industry regulations and advances in current technology, advisors need to act now when it comes to making data and document management electronic, Timothy Welsh of Nexus Strategy, said at FPA Experience in San Antonio on Sunday.

Stanzak, the principal and owner of Financial Empowerment, in Bloomington, Minn., will begin her term on Jan. 1, 2014, when she succeeds Michael Branham, FPA's 2013 president.

NEWS SCAN

Two Morgan Stanley financial advisors moved to Wells Fargo's independent brokerage arm in Maryland this week, taking advantage of a career path that one recruiter describes as the best of both the independent and wirehouse channels.

Delaware Investments has added Sean Pronger, a former professional hockey player, who recently joined Delaware Investments as regional director for its third-party retail distribution team supporting Los Angeles.

As part of a study into conflicts of interest at broker-dealers, regulators concluded that confidential information should be better protected.

Bank of America Corp. agreed to a $2.43 billion settlement with investors who suffered losses during its acquisition of Merrill Lynch & Co., resolving one of the biggest legal battles to stem from the takeover.

Fort Pitt Capital Group has a split personality. As an RIA, the Pittsburgh firm has $1.2 billion under management. As a fund provider, its Fort Pitt Capital Total Return Fund is 10 years old, with a five-star Morningstar rating for 10-year performance.