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Digital wallet services are being promoted, in part, on the strength of the card brands behind them. But data shows that consumers do not place that much trust in the name on their card.

The future of the investment advisory industry depends on reducing the cost of doing business, said Mark Casady, Chairman and CEO of LPL Financial, in the opening keynote at the Money Management Institute’s 2011 annual convention, which kicked off on Wednesday in Boston.

Long-term funds took in $6.46 billion in the week ended May 4, the Investment Company Institute said.

Only 45% of affluent investors are satisfied with their employer-sponsored retirement plan provider, according to a report from Cogent Research. Forty-three percent say they are somewhat satisfied, and 12% are dissatisfied.

At time when more Americans than ever are petrified they won't have enough set aside for retirement, a new LIMRA survey suggests that peace of mind could be just a phone call away.

This week, Ed dissects beneficiary designations and transfers from a 401(k) Roth.

Financial advisers are planning to increase their clients’ exposure to domestic equities, emerging market equities and global developed market equities, a survey of 805 investment professionals by Harris Interactive on behalf of Aberdeen Asset Management found.

Putnam Investments is the inaugural recipient of the Innovation and Growth Forum’s Innovation Award for its suite of absolute return funds. The Forum was launched by Financial Advisor Magazine and Spectrem Group to help asset management firms with their post-economic crisis strategies.

The acquisition expands the presence of SunTrust's Private Wealth Management division in Los Angeles and Atlanta; adds offices in Greenwich, Boca Raton and San Francisco; and builds on its practice with wealthy athletes, musicians, motorsports and film practices.

The average 401(k) balance held with Fidelity Investments reached $74,500 at the end of the first quarter, a 12% increase from a year ago and a 58% increase from two years ago. This is the highest account level since Fidelity began tracking account balances in 1998.