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At a time when many advisors are cautiously stepping into the social media scene, Fidelity Charitable has launched a LinkedIn group called The Giving Strategies Network which aims to help planners coordinate philanthropic planning.

Bank of America said net income was $653 million, or 3 cents a share, in the quarter, compared with $2.05 billion, or 17 cents per share, in the same period a year earlier.

But despite the inflows and booming equity markets during the first quarter, revenue declined $33 million, or 1 percent, to $2.2 billion.

The nascent actively managed exchange-traded fund space, currently populated by PIMCO, AdvisorShares and Guggenheim, will soon get a new entrant: Putnam.

"This is not going to transform BlackRock in any way," CEO Laurence Fink said during a conference call with analysts on the company's first-quarter results. "This is not going to change our behavior, our relations with the sell side."

Here is a step by step rundown on how the SEC says the ‘scheme’ executed by optionsXpress, involved ‘naked’ short selling, with failure to deliver the securities involved in the trades. Or ... it did not.

Some firms grow organically, pumping out funds. Then, they hire reps and distributors to market and sell their offerings.

New regulatory rules could lift or weigh down the wealth management industry as it works to mend its relationship with consumers following the financial crisis, according to executives speaking at the SIFMA Private Client Conference.

On April 18, Russell Investments added Tom Goodwin in the newly created role of senior research director for Russell Indexes.

The Dow Jones Industrial Average lost 82.79 points to close at 13,032.75 Wednesday while the Nasdaq and S&P 500 lopped off 11.37 points and 5.64 points, respectively.