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The Private Client Reserve hired a new wealth management advisor from UBS Private Wealth Management to support growing business in the Chicago market.

LPL is shuttering NestWise, the once-hyped unit that was launched just last year to serve less affluent customers, and has laid off 40 NestWise employees.

The U.S. Court of Appeals for the Seventh Circuit in Chicago has affirmed the Tax Court, upholding the disallowance by the IRS of losses claimed by investors in a DAD (distressed asset/debt) tax shelter.

BlackRock Inc. (BLK), the world’s biggest money manager, won dismissal of a lawsuit brought by two pension funds that accused the company of collecting “grossly excessive” compensation from securities-lending returns linked to iShares Inc.

Rosemary Berkery, who heads UBS's U.S. bank, knows her commercial banking rivals are gunning to win away the bank's super-rich clientele. In an interview, she explains how UBS is fighting back by offering wealthy customers new banking products, like mortgages and credit cards.

How, when and where do you spend your creative time?

Get ready for a new wave of low-cost, online-only financial advice companies.

A reincarnated version of an annuity that never gained much traction in the marketplace is finding fans among seekers of retirement income.

Beginning next month, a number of tech firms that are also RIAs are poised to enter the red-hot online advisory space, offering consumers not only financial guidance but specific buy/sell/hold recommendations for mutual funds and ETFs, based on algorithms and aggregation of clients’ accounts.

To do so, the country’s largest independent broker dealer expects to have a portal up and running, probably under the name AdvisorHarmony, as early as next year that will allow advisors to sift through potential partners on their own.

Wells Fargo's regional president of Florida operations has been promoted to a national executive.

Retirement: It's the main goal of most investing and the biggest worry of most clients. As a sneak peek to our upcoming September issue on the topic, we list the top 10 target-date funds for 60-year-old investors.

Deferred income annuities last year generated about $1 billion in sales and are expected to be the fastest growing annuity product.

As Gen Xers and Gen Yers put their holey jeans and futons behind them, many financial institutions are trying to lure those newly affluent age groups with high-tech services.

John Hancock Financial Network has rebranded under the name Signator Investors, as a sign to advisors of its commitment to grow the advisory side of its business.

National Bank of Canada, the country’s sixth-largest lender, reported quarterly profit that beat analysts’ estimates on gains in earnings from trading and wealth management.

Bloomberg -- Bank of America Corp.’s Merrill Lynch unit agreed to pay $160 million to settle a discrimination lawsuit filed by black financial advisors, a lawyer for the plaintiffs said.

Bank of America Corp.’s Merrill Lynch unit agreed to pay $160 million to settle a discrimination lawsuit filed by black financial advisors, a lawyer for the plaintiffs said.

The Internal Revenue Service has provided summaries and a set of tips to help with compliance for some of the more complex areas of the foreign tax credit law.

Wells Fargo's regional president of Florida operations has been promoted to a national executive.