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NICSA Wednesday presented Jan Clifford, former president of the MFS Service Center, with its Lifetime Achievement Award, at its general membership meeting in Boston.

Bank of New York Mellon Corp., the world’s largest custody bank, said third-quarter earnings climbed a bigger-than-estimated 11 percent as rising stock prices helped expand customer assets.

The regional bank plans to substantially strengthen its western footprint with new advisors in Oregon, Washington, California and Nevada.

Kansas City, Mo.-based Scout Investments has launched the Scout Emerging Markets Fund (SEMFX), becoming one of the latest new funds seeking to capitalize on growing investor interest in emerging market plays.

Vanguard is offering investors a way to hedge against future inflation with today’s launch of the Vanguard Short-Term Inflation-Protected Securities Index Fund (VTIP), in four share classes, including ETF Shares.

Most believe without action to address tax cuts and spending cuts that are set to roll out at the end of the year, economic conditions will worsen.

As exchange-traded funds become more popular with advisors and clients, allocations to ETFs in fee-based portfolios are quickly increasing, according to a Cerulli report.

Independent business owners associated with broker-dealers have a real chance today to capitalize on the frustrations that wirehouse advisors are experiencing with regard to increasing compliance burdens, lack of support and compensation limitations. Mindy Diamond says that a big problem, however, is that most of the firms these principals represent are not positioned properly to benefit from this unique opportunity.

For bank advisors looking to advance their careers, there’s no better news than a promotion or a new job offer. Here’s a sampling of bank reps who were recently promoted or moved to new organizations to assume roles of greater responsibility.

Kevin Keller, the CEO of the CFP Board of Standards, says that the fiduciary standard will remain a hot button issue in 2013. In the second part of a four-part interview, he also discusses dealing with criticism after the organization raised fees last year.