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Morgan Stanley Smith Barney has hired a two-member Wells Fargo Advisors team in Red Bank, N.J.

Professional marketers and smart advisors always tackle the “The 3 M’s” of marketing before they do any serious outreach. The 3 M’s are the foundational elements of all good marketing. However, according to marketing expert Marie Swift, it’s a very common error for many entrepreneurs and small business people to start with the wrong “M.” The problem with that is, it rarely, if ever works.

Investors who relied on professional help in the form of target-date funds, managed accounts and advice earned nearly three percentage points more than those that did not, according to an analysis of eight large defined contribution plans between 2006 and 2010 by Aon Hewitt and Financial Engines. The plans covered 400,000 participants with $25 billion in assets.

UBS AG has no plans to sell its U.S.-based wealth management business as the firm moves to find a new permanent chief executive and cope with its $2.3 billion rogue trading loss, UBS executives said in an internal memo sent to its Wealth Management Americas employees on Monday.

Russell Investments has added four additional investment discipline indexes to its series, all of which concentrate on small-cap securities.

As Bank of America Merrill Lynch continues to streamline its business, it has created a new global wealth and retirement solutions organization, said Andrew Sieg, who heads the new unit, in an internal memo to employees on Friday.

The term “emerging markets” was first coined nearly 30 years ago and has become outdated, as the differences between developed and emerging markets have lessened, according to a white paper from Standish Mellon Asset Management Co., the fixed income division of BNY Mellon Asset Management.

Americans are divided on their outlook for the economy, a Harris poll of 2,464 adults earlier this month found. Twenty-one percent expect the economy will improve, 45% think it will stay the same, and 34% fear it will get worse.

When UBS Group Chief Executive Oswald Gruebel resigned this weekend, it left the Swiss bank with two dilemmas to cope with: properly handling its recent rogue trading scandal and finding a new permanent leader.

UBS AG announced that CEO Oswald Gruebel has resigned and that Sergio Ermotti will assume the top spot at the Swiss bank on an interim basis.