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On April 14, Touchstone finalized its deal with Old Mutual.

While most advisors do focus on generating referrals, many forget to spend time figuring out whether their businesses are worthy of getting those referrals in the first place, says Ken Unger, advisor coach and president of Million Dollar Producer.

On April 16, 2012, a T. Rowe Price spokesperson confirmed that Robert Gensler, portfolio manager of the T. Rowe Price Global Equity Strategy, which includes the roughly $590 million Global Stock Fund, will retire from the firm on December 31.

Genworth Financial Wealth Management launched a program offering its advisors access to capital to fund acquisitions and retirement.

John Houlihan joined the wealth division of the London-based bank in late March after almost two decades at Morgan Stanley. In his new role, Houlihan will be responsible for managing all aspects of the firm's Atlanta office and will be in charge of growing business in the region.

After a long, winding legal road, involving no fewer than six federal court decisions, Ameriprise Financial finally won a suit alleging that it had charged excessively high advisor fees.

Money market funds bled $114 billion in the first quarter, the biggest quarterly outflow since the second quarter of 2010, according to a report released by Morningstar.

The 2008-2009 financial crisis that rocked worldwide markets was amplified by the lack of a sufficient regulatory framework, including checks on the largest broker-dealer firms, Federal Reserve Board Chairman Ben Bernanke said Friday.

The Financial Services Institute has expanded its agenda to include retirement and tax issues. As part of the expansion, the independent broker-dealer advocacy group has hired Robert Lewis as government affairs counsel for tax and retirement.

Patrick Morris is a veteran hedge fund manager who has come in from the cold.