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Webb, CEBS, is vice president of Cammack Retirement. He has been a member of the firm since 1991. For more than 20 years, he has provided retirement plan operational compliance consulting services for tax-exempt industries, including healthcare, colleges and universities, cultural institutions and social service entities.

Personal Capital CEO Bill Harris argues financial institutions are more focused on product offerings than clients.

"It was terribly important to us that we were participating and supporting a partnership with a firm that is innovating and has strong backing," said Richard Steinmeier, head of the Wealth Advice Center at UBS.

In an almost immediate response, the industry created a new T share class, which replaces high, upfront commissions with trailing commissions.

Pimco's $1.5 trillion in assets under management are down 25% from a high of $2 trillion in the first quarter of 2013.

The year-old automated advice service is revealing some new ways advisers use robos — and it's quelling some big fears.

Train them to use these strategies during jittery markets.

Advisers may need to put the brakes on those who want to invest too heavily in specific sectors.

These options can outperform under the right circumstances