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NEWS SCAN

Snap your fingers.

Two Morgan Stanley financial advisors moved to Wells Fargo's independent brokerage arm in Maryland this week, taking advantage of a career path that one recruiter describes as the best of both the independent and wirehouse channels.

The Board of Directors of the $5.3 billion FPA New Income fund has approved a new distributor for the fund.

Delaware Investments has added Sean Pronger, a former professional hockey player, who recently joined Delaware Investments as regional director for its third-party retail distribution team supporting Los Angeles.

As part of a study into conflicts of interest at broker-dealers, regulators concluded that confidential information should be better protected.

Fieldpoint Private, a Greenwich, Conn., based wealth advisory and private banking firm, announced Thursday that M. Thomas Conway has joined the firm as a managing director and senior advisor.

Bank of America Corp. agreed to a $2.43 billion settlement with investors who suffered losses during its acquisition of Merrill Lynch & Co., resolving one of the biggest legal battles to stem from the takeover.

Ed Slott, Your IRA Expert, examines how often your clients can perform Roth conversions, how to hand Roth deferrals, and what happens to IRAs when a spouse dies.

Well, that was quick.

The Laudus Mondrian Global Equity Inv (LGEQX) fund is liquidating at the end of November.

Fort Pitt Capital Group has a split personality. As an RIA, the Pittsburgh firm has $1.2 billion under management. As a fund provider, its Fort Pitt Capital Total Return Fund is 10 years old, with a five-star Morningstar rating for 10-year performance.

Three months after hiring Mark Howard-Johnson as the Global Head of Real Estate Securities Management, BlackRock today unveiled the first of many real estate funds to be managed by Howard-Johnson's new unit.

Municipal bond mutual funds saw heightened demand from investors this past week. Funds that report their flows weekly recorded solid inflows of $592 million for the week ended Sept. 26, Lipper FMI numbers show.

Goldman Sachs will pay $12 million to settle charges it made undisclosed contributions to a former Massachusetts state treasurer in violation of "pay-to-play" rules.

Treasury Secretary Tim Geithner asked the Financial Stability Oversight Council to take up structural reforms to the $2.6 trillion money market mutual fund industry, citing the Securities and Exchange Commission's failure to act.

TIAA-CREF has added a new socially responsible fund dubbed the Social Choice Bond Fund (TSBIX, TSBBX, TSBRX, TSBPX), an actively managed, core fixed-income mutual fund.

Treasury Secretary Timothy F. Geithner put pressure on the U.S. Securities and Exchange Commission to tighten oversight of the $2.6 trillion money- market fund industry, saying the funds may pose a risk to the stability of the financial system.

Advisors need to help clients focus on their long-term plans by demonstrating the risks of short-term emotional decisions.

The Financial Planning Association announced the winners of its top awards, which will be presented at its annual conference in Texas. The FPA honored David M. King, with its 2012 P. Kemp Fain, Jr. Award; retirement researcher Wade D. Pfau with the inaugural Montgomery-Warschauer Award; and 10 influencers in the profession with Heart of Financial Planning Awards. Check out more information on each of the honorees.