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TORONTO -- The movement of credit-default and other forms of complex financial swaps into electronically managed and centrally cleared markets may be increasing rather than lowering risk, Michael Bodson, chief operating officer of Depository Trust and Clearing Corporation said Tuesday at SIBOS 2011 here.

Planners should take note for their clients of the new Medicare options that were created under the Affordable Care Act.

Developing economies of the world are still showing robust growth, but that may not be enough to lift the sagging economies of the developed world, which still account for 60% of combined global economic output, warns Lin Yifu, a World Bank senior vice president and chief economist.

The Colony Group has agreed to turn a stake equaling 40% to 70% of its earnings over to Focus Financial Partners, but it is holding on to its independence and plans for aggressive growth.

Advisors take heed: Investment firm UBS Wealth Management is announcing a reduction in its recommendation for equity weightings in portfolios from “neutral” to “moderate underweighting,” with a corresponding increase in cash holdings.

Even as Bank of America braces for mass layoffs, its Merrill Lynch brokerage is still out for new producers as it hires Morgan Stanley Smith Barney financial advisor Antonio Da Roza to its San Francisco office.

By tapping into the psychology of why many clients resist financial advice, planners can help them conquer self-defeating beliefs that may block financial success.

August’s mutual fund outflows reflected investors’ jittery mood, with money pouring out of most investment categories.

We finally have some numbers to attach to all the discussion surrounding social media for financial advisors. The people at Nielsen (the same people who measure television audiences) recently released a report detailing social media use in the US. The report is rich with actual numbers and data. While you can read the report yourself, I thought it might be helpful to hit some of the highlights here.

An auction of the deceased actor’s memorabilia, clothes and other property recently garnered more than $1 million but none of his five children, including actress Jamie Lee Curtis, have yet to receive a dime. And, from most indications, that’s exactly the way the “Some Like It Hot” star wanted it.