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Many investors are carrying the scars of the past five years into 2013. Some may lose money sitting in cash or fixed income while failing to recognize some long-term opportunities. Others may be too keen on trying to time the market to avoid potential downside. To clear up some misconceptions, Wells Fargo explains some of the less focused-on market trends that investors and advisors should keep in mind and also offers some timely reminders that are relevant no matter what direction the market turns.

Lack of knowledge is the top reason for not using alternative investments followed by lack of track record, according to Cambridge, Mass.-based consulting firm Cogent Research. As popular of an investing tool as they have become, there are different theories about what role alternatives play in a portfolio as well as what actually constitutes an “alternative,” so it’s easy to understand why there could by some misunderstandings.

Institutional investors' investment philosophy is changing with the times. The products they're asking for are becoming more and more in-line with larger social and macro-economic trends, according to a report from Boston-based consulting firm Cerulli Associates and the Institutional Investor Institute.

So much research comes out this time of year with many major firms cautiously offering their predictions for the new year that we wondered how they would stack up on the major issues. We’ve parsed through some of the larger reports from Barclays, Bank of America Merrill Lynch, Morgan Stanley, UBS, ING and Wells Fargo to track the top themes and condense it down. Here are some of their more interesting recommendations on global themes as well as some more local, unique investment ideas that they had to offer.

Who is poised to influence the financial advisory industry this year? Check out who made the list, in alphabetical order, and who will set the agenda on everything from the next generation of advisors to the latest set of regulatory rules.

The Women Advisors Forum convened for its last 2012 event on Dec. 17 in Boston. Among the topics discussed include tips to facilitate the recruitment process, how to use technology to improve communication with clients, sustainable investing as a long-term strategy and new approaches to practice management. Check out these photos for some of the highlights from that day.

From social media’s growing influence in wealth management firms, to a look at the top 40 advisors under 40, Wall Street has undergone some rapid changes in 2012.

In On Wall Street's sixth annual ranking, the young hotshots of The Street talk clients and strategy. Here's how this year's top 40 advisors under 40 conquered a tough market.

In On Wall Street's sixth annual ranking, the young hotshots of The Street talk clients and strategy. Here's how this year's top 40 advisors under 40 conquered a tough market. And check out the other top young advisors in the industry.