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The mutual-fund industry, in what may be the last round of lobbying against tighter rules for money-market funds, rejected a scaled-back proposal to force only the riskiest funds to give up their stable $1 share price.

It’s no secret that the Investment Company Institute is opposed to proposals by the Securities and Exchange Commission to float the net asset value of money market funds and ICI President and CEO Paul Stevens today reiterated the group’s stance on the SEC’s proposal.

Investors pulled $13.34 billion from mutual funds for the week ended Wednesday, June 12, according to data from the Investment Company Institute.

Paul Jablansky, the head of structured products at fixed-income manager Western Asset Management Co., has left the unit of Legg Mason.

Global asset managers are looking to get their investment data management house in order, according to a study released by DST Global Solutions.

Most financial advisors offer their clients life insurance planning but few find it worth the effort. It’s not the core of their practice and the sheer number and complexity of the various policies and regulations combined with the mountains of paperwork can be a major headache. But this doesn’t have to be the case. There are a number of strategies advisors can employ to improve their grasp of life insurance planning—and better serve their clients.

Raymond James announced Wednesday it hired Claire Friedrichs as first vice president of investments.

The Bakersfield, Calif.-based financial institution was drawn to LPL’s retirement planning capabilities, technology platform and in-house insurance services.

Less than 52% of financial advisors describe life insurance planning as a successful aspect of their business, but this doesn’t have to be the case. Check out some strategies to make it a core element for you.

LPL Financial, the nation’s largest independent broker-dealer, has reached $50 billion in total RIA assets under custody, doubling its year-ago total.