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Uncertainty and fear are driving affluent investors into cash at record levels, according to the MFS Investing Sentiment Survey. While investors of all ages are moving into cash, they are being led by Generation Y.

The Conference Board Employment Trends Index declined slightly in July to 100.6, down 0.3 percentage points from June’s 100.9. However, from a year ago, the July index is up 4%.

The historic downgrade of the U.S. government's credit rating is raising the question of whether similar actions may be in store for the country's largest banks.

As the stock prices of the big banks cratered on Monday, particularly for Bank of America Corp., pundits and industry observers began worrying that a second financial crisis was in the offing, including the possibility of the failure of a large financial institution.

Everyone knew it wasn't going to be pretty. But Monday's sell-off of U.S. equities in the first trading day since credit rating agency Standard and Poor's cut the U.S. government's sovereign debt rating from AAA to AA+ on Friday sent stocks into a free fall and has investors and their financial advisors wondering what -- if anything -- they should do now.

One of the challenges that we have as professionals is motivating our clients to do their estate planning. Our new television special titled "Trial & Heirs: Protect Your Family Fortune!" debuts tonight and we think it will help motivate your clients to take the necessary estate planning steps that many have put off for far too long.

The opening morning of focus11, LPL Financial's national conference, got off to a rocky start Monday as the market took an immediate downturn with news of the Standard and Poor’s downgrade. LPL’s regular research morning call was scheduled onsite, which was perfect, as the advisors got to hear firsthand what LPL’s take was.

Mortgage woes have been the overriding concern of investors in the country's largest banks in recent months. Not any more. In the wake of Standard & Poor's downgrade of U.S. government debt on Friday, fears about capital markets exposure are now taking precedence over mortgages and cancelling out the perceived safety that investors normally ascribe to the largest banks.

Insurance continued to be a bright spot for banks in the first quarter, as guarantees lured customers and banks ramped up their sales efforts.

The equities markets, which have fallen 12% since May's highs, may have just gone through a sell-off that meets the classic definition of a correction, but UBS Wealth Management Research is cautioning that it still might not be a great idea for investors to jump back into the market just yet.