Practice

SEC Chairman Mary L. Schapiro told a financial services subcommittee of the House of Representatives that the federal regulator intends to spend $100 million of its $1.6 billion requested budget for fiscal 2013 on information systems and another $50 million on modernizing the EDGAR stock information database and www.sec.gov, its public website.

Marketing expert Marie Swift says niche marketing cannot only help advisors attract significantly more business, but also provide richer opportunities for self-expression.

J.P. Morgan Asset Management has hired Richard Gray as managing director and institutional client advisor, based in New York and focused primarily on corporate defined benefit plans and public fund retirement plan clients. This is a new position reporting to Andrea Lisher, East Team Lead for Institutional Advisory Sales at J.P. Morgan Asset Management.

Banks looking to boost their profits are missing the boat on a big opportunity: marketing investment and insurance products to mass-affluent households.

The advisor allegedly used client money to buy a $3.35 million beach resort being developed by a relative.

The odds of being single at some point during retirement are high and present unique challenges for both “ever single” retirees who never married and for those who become “suddenly single” in retirement due to divorce or death of a spouse. In fact, 43 percent of Americans age 65 and older are single due to divorce, having never married, or the death of a partner.

The new process will be partially electronic, the proposal suggests, to eliminate current deficiencies and delays.

Steve Sanduski, The Prosperous Advisor, offers up five suggestions for financial advisors who have successfully grown their business for years but now find themselves stuck and unable to achieve the level of success they truly desire.

AXA Equitable has hired Amy Radin to the new position of senior executive vice president and chief marketing officer.

Investment Technology Group said it released an algorithm that will capture matching orders in the opening auctions of the New York Stock Exchange and Nasdaq Stock Market.