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Mariner Wealth has jumped into the burgeoning space recently abandoned by LPL’s NestWise.

Trust and investment services generated $123.8 million in third-quarter revenue, up 7% year-over-year.

Bank of America posted strong revenue growth in the same quarter its big rivals showed weakness on bread-and-butter banking. But concerns about its higher litigation expenses overshadowed the good news.

The world’s most profitable securities firm before the financial crisis said earnings were little changed as the bank cut costs in response to a 20% drop in revenue.

The agency asked for the change as part of an effort to improve corporate governance at the company, said one of the people, who asked not to be identified because discussions were confidential.

The passage last night by wide margins -- an 81-18 vote in the Democratic-led Senate, followed by a 285-144 vote in the Republican-controlled House -- allows the U.S. to avoid default and ends the shutdown that began Oct. 1 and has taken $24 billion out of the U.S. economy.

Stockbrokers routinely succeeded in erasing settlements of customer complaints from their regulatory records in the wake of 2008’s market turmoil, making it harder for investors to research the money managers, a group of plaintiffs lawyers said.

Morgan Stanley Funds Join Rivals in Shunning Some Treasuries

Vanguard Combines Similar Funds to Simplify Lineup for Investors

Money-Market Fund Withdrawals Accelerate as Debt Cap Approaches

BlackRock Profit Rises 14% as Investors Deposit $25 Billion

Generation X and the younger Generation Y—unlike Baby Boomers—see banks as places where they want to both do their banking and manage their investments.

After selecting an asset allocation for clients, locating assets where they are most tax-efficient is critical.

The agreement would end the 16-day-old government shutdown and extend U.S. borrowing authority, which lapses tomorrow. House Republicans today signaled that they will allow it to pass. The biggest remaining question is how quickly the agreement could become law. The first votes could be held as soon as today.

The firm told clients its money-market funds aren’t holding Treasuries that mature in the next month as Congress debates whether to raise the U.S. debt ceiling.

The firm must turn over internal gender-bias complaints by female workers to lawyers representing women in a lawsuit alleging the firm discriminated against them in pay and promotions.

Revenue at the Global Wealth and Investment Management division, including Merrill Lynch and U.S. Trust, was off from 2Q records.

U.S. Bank’s wealth management and securities services posted a notable drop in its contribution to the bank’s bottom line, falling to $34 million from $43 million last year.

The deal, which would bring the bank’s total settlements in the episode to more than $1 billion, may be announced as early as this week.

The third- biggest independent U.S. custody bank said third-quarter profit rose 15% as cost cuts combined with rising stock markets pushed revenue higher.