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Attracting Younger Clients

(Bloomberg) – The largest developing nations for the first time have the worst market opportunities as optimism for stronger growth shifts to the U.S. and Europe, according to a Bloomberg Global Poll.

The 2008 and 2009 global financial crisis left many investors disappointed with the high volatility and negative performance of their portfolios and leading them to re-evaluate the risk reducing ability of asset allocation.

In the first half of 2013, they generated $283.3 million in revenue, the most they’ve made in the first six months of any year since 2007.

Bank of America Corp.’s Merrill Lynch unit must face a lawsuit filed by two trusts that hold and administer mortgages on behalf of investors who own more than $1 billion worth of securities collateralized by the loans.

Former CFP Board Chairman Alan Goldfarb was the first CFP holder ever to be publicly sanctioned for a compensation disclosure violation, the board has confirmed – despite its assertion that he was not treated differently than other CFP holders.

“To have a national brand, you have to have a client experience that can be duplicated in every location, like Starbucks," says Rudy Adolf, CEO of Focus Financial Partners. "No advisory firm has the ability to deliver this kind of promise," he says.

The Tupelo, Miss.-based financial holding company selected Infinex Financial Group to manage its investment services program.

Developed economies are turning into global growth engines as some emerging-market counterparts decelerate.

Umpqua Holdings' agreement to buy Sterling Financial is the latest in a series of deals this year to pair similarly sized banks, creating a new crop of midsize financial institutions.