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Legg Mason's 2012 Intergenerational Survey of College Finances points out a lack of advanced planning among affluent Americans for their children's college education.

Monarch Bank in Chesapeake, Va., will launch a new wealth management unit as it looks to expand in Virginia.

On August 7, 2012, The Segal Company today said that its founder and Chairman Emeritus, Martin Segal, has passed way. He was 96 years old.

On August 7, 2012, As legal eagles-including regulators, cops and attorneys-continue to swoop down for the kill in the wake of the LIBOR debacle, asset managers still struggle to gauge the scandal's impact on their investments.

Creative Management Group will apply its ProjectDouble program in effort to help advisors double their AUM.

As equity markets sputter along at an uneven pace, many investors are looking at alternatives to help manage volatility and potentially generate more predictable income. One alternative investment has been commercial real estate, which during the late '90s and early '00s was an attractive asset class.

Citigroup Inc., the third-largest U.S. bank by assets, started an investment banking joint venture in China that will give it access to the world's second-biggest market for share sales.

On August 6, 2012, Invesco has added the Invesco Global Opportunities Fund (IAOPX) and Invesco Select Opportunities Fund (IZSAX) to its U.S. open-end mutual fund equity product line.

The online tool analyzes program data against industry averages and best practices drawn from more than 2,800 financial institutions.

What is the fastest growing financial services market and distribution channel? According to Tiburon Strategic Advisors, it's the fee-based financial advisory market.

On August 6, 2012, Buffalo Funds is looking to take its family of ten no-load mutual funds to the next level with the addition of Tony DeMarino as Head of Global Distribution in June.

On August 6, 2012, Chairman Mary Schapiro said she is asking SEC staff to propose a rule that will require exchanges and market centers to ensure the capacity and integrity of the systems they operate.

Fighting over estates is never pretty. These court battles are emotional, draining, and sometimes downright nasty for everyone involved. When they happen to the estate of a beloved American icon, it's even more tragic.

Knight Capital Group Inc. received a $400 million cash infusion through the sale of convertible securities after trading losses spurred by a software failure drove the market maker to the brink of bankruptcy.

The investors who bailed out Knight Capital Group Inc. by purchasing $400 million in convertible securities are gaining control of the biggest trading partner for individuals in the world’s largest stock market.

Fidelity Investments is reportedly gearing up to make a run at the active exchange-traded fund space, Bloomberg News reports.

The Board of Trustees of the Direxion Shares ETF Trust has decided to liquidate and shutter nine exchange-traded funds due to the funds' inability to attract sufficient investment assets.

Financial Advisor Phoenix Advisors LLC is hiring three financial advisors from Capital Financial Advisors.

The municipal market, sliding leisurely through its slow season, anticipates a slight uptick in issuance the week of Aug. 6. Industry estimates hold that muni bonds expected to be sold during the week should total $6.35 billion, versus a revised $5.93 billion last week. Then, the market waded through a sluggish week in the primary and secondary that did little to yields, which continue to hover near record lows.

On August 6, 2012, The Board of Trustees of the Direxion Shares ETF Trust has decided to liquidate and shutter nine exchange-traded funds due to the funds’ inability to attract sufficient investment assets.