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RiverNorth Capital Management today filed a registration with the U.S. Securities and Exchange Commission for a new mutual fund—the RiverNorth/Oaktree High Income Fund.

The $5.5 billion Franklin Templeton Founding Funds Allocation last week got a Negative rating from research shop Morningstar.

Despite a tough third quarter, RBC Wealth Management is doubling down and investing in an ambitious growth strategy as it looks to come out ahead post-crisis.

The SEC filed a cease-and-desist order against noted investment advisor and radio personality Ray Lucia, alleging a series of misleading statements in retirement-strategy seminars plugging Lucia's "buckets of money" strategy.

Indexed annuity sales increased 8.3% and income annuities were up 6.1% in the second quarter, according to Beacon Research. It was the second-best quarter ever for those product types, Beacon said in a press release. Total fixed annuity sales were also up, but with a more muted 1% gain in the quarter. And they declined 17.2% from the year-ago period. …

Firms need to foster real loyalty between themselves and their investor-clients, especially if advisors continue to leave, says Arthur Levitt, the former chairman of the SEC.

Global assets invested in exchange-traded funds and exchange-traded products reached a record $1.76 trillion through the end of August 2012.

Robert Ceccarelli and John Hursh collectively manage more than $148 million in assets and produce nearly $1 million in revenue. They will join Ameriprise's employee advisor channel and be located in the New Haven, Conn.

Global assets invested in exchange-traded funds and exchange-traded products eclipsed the $1.7 trillion threshold in August - an all-time high.

With 478 advisors in 40 states, Independent Financial Partners is LPL's largest branch, but the Tampa, Fla., based firm certainly won't rest on those laurels. Currently, less than a dozen IFP advisors are fee-only, according to William Hamm Jr., the company's CEO, but that is about to change.