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Commentary: Initiatives

UniCredit Markets Structured Notes Tied to Carmignac Mutual Fund

Eight leading managers of money-market mutual funds urged the SEC to alter the way it defines retail funds in proposed new rules for the industry.

Call it the second wave of the mortgage-refinancing collapse. Prepayment penalty income is about to crash. Hard. Especially in New York.

At its most basic, relative strength is a ratio of stock or index price-to-market average or other indices.

Advisor Ryan Beal gave away most of his clients-and then built back up-to focus exclusively on cops and firefighters. Their personalities and senses of humor are similar to his own, plus they have good retirement packages. And he gets to ride on a fire truck to boot.

"We need to grow substantially," said Brent Smith, the new program manager at the Lititz, Pa., bank, who issued a mandate to double revenue over the next three to five years.

Umpqua Bank's plan to grow the private banking business to 10 times its size by 2018 may shift into high gear if its parent company's planned acquisition of Sterling Financial Corp. is approved.

Markets are pretty efficient in the long-term but can be wildly inefficient in the short-term. And the short-term is where advisors can provide value to clients.

As advisors look to protect clients' assets, and lock in steady income streams as well, they're changing the ingredients they use. They're adding new products to the mix with an eye-always-toward allaying the anxieties of their conservative clients.