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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.

For the first six months of 2013, trust services generated $14.9 million, while investment services and insurance generated $5.8 million, up 31% and 26%, respectively, from last year.

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.

A recent report found that clients with as much as $5 million didn’t feel wealthy. Advisors wonder what it takes.

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.

Since the start of the year, Regions has hired 102 financial consultants and is aiming for 125 by year-end. It is looking to build an advisor force of 160 to 170 by the end of 2014.

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