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Barack and Michelle Obama need a better financial strategy. Financial Planning has several suggestions.

The Wilmington Multi-Manager International Fund (GVIEX) has one less sub-advisor as of April 24.

401(k) plan participants paid less in mutual fund fees than the average investor industry last year, according to the Investment Company Institute’s latest report on the retirement space.

For the first time in the fast-growing company’s history, LPL has posted nearly $1 billion dollars in net quarterly revenue.

Financial services firms and advisors are relying on new technology and enhanced training to to take a more holistic financial planning approach with clients.

“We got drunk with the performance of the bull market,” Thiel told the audience of wealth management professionals at the SIFMA Private Client conference on Thursday. “But the world changed and our dialogue, our approach, didn’t. It needs to. We need to talk about what our clients goals, concerns and priorities are and map absolute performance to that objective.”

Schawb’s CEO Walt Bettinger sent clients a letter apologizing for the inconvenience caused by the company’s website outage Tuesday.

Invesco shareholders have approved the reorganization of three Invesco funds.

Revenue from insurance commissions generated $26.6 million for the Tupelo, Miss.-based financial holding company, up 15.1% from the same quarter a year ago.

Morgan Stanley has hired three advisors from Deutsche Bank, Merrill Lynch, and Wells Fargo who combined for more than $3.2 million in production.

“We have the opportunity to think beyond tweeting and posting about how this will fundamentally change products in this industry,” said Augie Ray, director of social media strategy for Prudential Financial. “It’s not just about getting content out – we certainly have to do that too – but there are a lot of changes coming in the next five years.”

In a low-yield environment, payouts of 4% to 6% have many investors thinking about increasing their exposure to real estate.

Credit Suisse Group AG said it’s increasing the proportion of assets under management from super- rich clients, helping to boost profit margins at Switzerland’s second-largest wealth business.

J.P. Morgan Securities announced Wednesday it has added eight advisors to its offices in Boston, New York City, and Florham Park, N.J.

Although client referrals are the single biggest driver of new business, only 20% of advisors ask for referrals systematically. Worse, a majority indicate that they can address referrals only occasionally in client meetings. Matt Matrisian writes that advisors need to focus on reinforcing referral behavior in their client base to generate real growth.

The survey, by Northwestern Mutual, found that three quarters of people prioritize long-term planning over short-term performance, and one-third said “slow and steady wins the race” best describes their approach to future financial goals.

Pacific Investment Management Co. is becoming less dependent on Bill Gross, preparing for an eventual future without the world’s best-known bond investor and adding pressure on its rising stars to live up to his legacy.

Total estimated inflows to long-term mutual funds were $3.66 billion for the week ended Wednesday, April 17, according to the Investment Company Institute.

Revenue and assets increased year-over-year as the firm began to streamline operations after the Morgan Keegan integration in February.

Old Mutual Global Investors has restructured the Skandia US All Cap Value Fund as the Old Mutual US Dividend Fund.