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Tax-exempt money market funds continued their downward as they reported $2.44 billion of outflows, for the second week in a row of net outflows.

Inflows to municipal bond mutual funds, while still robust, have fallen for a second straight week, to $871 million from funds that report their flows weekly.

Morgan Stanley, the biggest financial brokerage, will spend $500 million to improve computer systems after flaws in a previous upgrade frustrated the staff.

Morgan Stanley gave Chairman and Chief Executive Officer James Gorman a compensation package for 2012 that’s 30% less than his 2011 award, excluding a new incentive package, a person familiar with the decision said.

What makes an online trader successful? Fidelity Investments surveyed its top trading customers, those with a 12-month portfolio performance of at least 20%, to find out the secrets to their investing success.

If confirmed by the Senate, veteran prosecutor Mary Jo White would assume responsibility for moving ahead with a number of initiatives that would reshape the regulatory landscape for advisors

Houston-based Salient Partners earlier this month added the Pure Trend Fund, a managed futures offering, to its growing list of alternative mutual funds.

Northern Trust Corporation is expanding its middle office outsourcing service with a brand new position.

Aspiriant, the industry’s third largest RIA, promoted Michael Kossman, the firm’s chief finance officer, to chief operating officer and hired Bret Magpiong as CFO.

BMO Global Asset Management has one more milestone to help establish its presence in the U.S.

Where would a successful trader invest a hypothetical $100,000 windfall? In energy, information technology and utilities, according to Fidelity Investments’ inaugural survey of its top online traders. The survey polled customers who made at least 36 trades over the past 12 months and whose total portfolio performance during this time was at least 20%. …

Morgan Stanley financial advisor Devin Condron, who lands at number 20 on the Top 40 Under 40 list, works to help younger members of ultra high net worth families understand everything from choosing a mortgage to donor-advised funds.

Mary Jo White, a prosecutor and former U.S. attorney in Manhattan, will be nominated by President Barack Obama to be the next chairman of the Securities and Exchange Commission, according to a White House statement.

Janus said fourth-quarter profit declined 13% as clients pulled out money for the 14th consecutive quarter.

We can all do something better, something new, something different, something more. According to Steve Wershing, one reason advisors have difficulty following through is that we are all pretty booked up.

President Barack Obama will nominate former US attorney Mary Jo White to lead the Securities and Exchange Commission, replacing incumbent Chairman Elisse Walter, the New York Post reports.

For alternative mutual funds, 2012 was a mixed bag.

Institutional investors are currently showing more interest in environmental, social, and governance investing, according to new research from Cerulli.

Assets in ETFs and other indexed products will reach $10.4 trillion by 2017, up more than 100% since 2011, a new report from Tiburon Strategic Advisors predicts.

Long-term mutual funds posted inflows of $22.04 billion for the week ended Wednesday, January 16, according to the Investment Company Institute.