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The graying of the workforce is a problem for banks, but an opportunity for bank advisors, young and old, if they think ahead. Enterprising bank advisors planning to retire can buddy up with younger advisors and put them in place as potential successors. Both senior and junior advisors will win from teaming up.

Sequentially, however, revenue in the Americas was down 5 percent. In the fourth quarter, the unit reported a pre-tax profit of $125 million. In the third quarter, the profit was $165 million.

TD Ameritrade Holding Corporation has named Tom Bradley its new president of retail distribution. Bradley was previously president of TD Ameritrade Institutional, the unit of the firm that serves independent advisors.

UBS Wealth Management Americas has hired six new financial advisors including one Merrill Lynch team previously produced $4 million and oversaw $750 million in client assets.

John Goodman's lawyer states that the adoption was done to protect Goodman's children, not to shield assets from the family of the slain driver who is suing him. While Goodman, of Palm Beach, has been bashed across the country for his legal maneuver, it actually makes sense from a probate law perspective.

Hatteras Funds CEO Brian Jacobs predicts there will be an increasing convergence between the mutual fund and hedge fund worlds as more companies seek to offer hedge fund strategies to mass-market investors.

BATS Global Markets said the Securities and Exchange Commission approved its Competitive Liquidity Provider program, proposed last year.

Petrone Expands Kasina's Research Effort; Great-West Names Killgore Regional Sales Director; Neuberger Appoints Saltzman Wealth Advisor; Jones Joins CLS in Regional VP of Sales Role

Declining rates notwithstanding, divorce will always be an issue to contend with among high-net-worth clients.

A regional team of former representatives at Bank of America Merrill Lynch have launched their own independent advisory firm, affiliated with Focus Financial Partners.