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The tech team at Fidelity Institutional Wealth Services has come up with a new way to help prevent independent financial advisors from enjoying their vacations: a new smartphone app that allows them to open client accounts and do electronic trading for clients from anywhere.

Morningstar has added sophisticated asset allocation and forecasting functionality to Morningstar Direct, its investment analysis platform for institutional investors.

The Conference Board Employment Trends Index gained 0.50 percentage points in June, rising from 99.5 to 100.00—an increase of 5.4% from June 2010.

Asset managers have seen higher profitability in 2010 than in 2009, but they still face a number of challenges: an increase in investor demands, changing products, tighter regulations, and diversity of markets, according to a study released Monday by The Boston Consulting Group.

So whatever happened to that Armageddon in the $475-billion municipal bond fund market?

One of Wells Fargo Advisors former brokers has won $6.83 million in an arbitration dispute after alleging he was wrongfully terminated and defamed by the firm after cooperating with a regulatory investigation.

Asset managers have seen higher profitability in 2010 than in 2009, but they still face a number of challenges: an increase in investor demands, changing products, tighter regulations, and diversity of markets, according to a study released on Monday by The Boston Consulting Group.

Financial advisors who position themselves well by be being frequently seen in the public eye -- either in print, on TV, on the radio or writing online columns likes this one -- can build the perception that they're professionals who can be trusted.

A hedge fund services unit of Citigroup in Bermuda has become the latest in a line of third-party middle- and back-office service providers to be sued by the trustee liquidating Bernard Madoff's firm to recoup collect funds for disgruntled investors.

When it comes to finding sub-advisory mandates, the size of the asset management firm is not a key consideration, according to a survey of 33 companies by Financial Research Corp.