News Feed

A dozen luminaries of the financial world, including former Fed Chairman Paul Volcker, have signed a petition calling on lawmakers and regulatory authorities to expand the scope of fiduciary responsibilities to encompass more segments of the investment advisory industry.

For the week ended Aug. 15, investors pulled an estimated $2.67 billion from funds that invest in U.S. stock mutual funds, substantially less than the $3.56 billion withdrawn the week before.

Heavy lobbying continues in the lead-up to what some expect will be an Aug. 29 SEC vote on controversial money market reforms.

The nonpartisan Congressional Budget Office said today in a biannual analysis that the shortfall will be about $100 billion narrower than it had projected in March. The deficit would be less than last year's $1.3 trillion, in part because tax revenue has risen by almost 6 percent and spending is down by about 1 percent this year.

With 1,000 ETFs now trading on Xetra, the Deutsche Bourse’s electronic trading platform, the exchange remains the leading trading venue for ETFs in Europe.

A new online company, FutureAdvisor, aims to break open the market for sophisticated financial advice and make that service available not only to the wealthy, but to all investors. Launched in 2010, the Seattle-based startup says it already analyzes $4 billion in assets for its users and, today, it announced $5 million in new venture capital funding. …

LPL is determined to help advisors up their games in order to be able to serve clients who are generating new wealth or coming into possession of it.

Two trade groups for corporate treasurers have sounded the alarm about proposed reforms of money market funds, warning that proposed regulations could reduce large companies' financing options - and add to their dependence on megabanks.

How do your clients refer you? Steve Wershing, "The Referral Doctor," says the answer can help you attract significantly more. And one simple question can teach you a lot about providing your clients the motivation to refer.

Drew Brahos and Bruce Wetter will advise clients on portfolio management strategies and contribute to the team's investment research.