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Seven multimillion-dollar revenue earners are joining Merrill Lynch’s wealth management units in Florida, Michigan and California.

House Democrats on Wednesday introduced legislation that would expand the role of the SEC to conduct oversight examinations of investment advisors, a segment of the financial services sector that lawmakers on both sides of the aisle have agreed is under regulated.

The Dow Jones Industrial Average moved up 58.73 points Wednesday to close at 12,676.05 while the Nasdaq and S&P 500 lost 8.75 points and 0.42 points, respectively.

It was only $99 million, in the week ended July 18, 2012.

Thirty-year industry veteran Chris Willett will help expand business in the South.

Attention fund builders: There’s still time to shine a light on the smartest and most effective mutual fund executives, back office innovators and marketing gurus you know.

Spectrem’s affluent investor confidence index fell to its lowest point in eight months.

Ask Ed Slott: Your IRA Expert answers readers’ questions about the best way to reinvest proceeds garnered from beneficiary IRAs.

On July 25, 2012, Columbus, OH-based Huntington Asset Advisors, Inc. has launched a second actively managed exchange-traded fund, US Equity Rotation Strategy ETF, via its new ETF family, Huntington Strategy Shares. The Huntington EcoLogical Strategy ETF (NYSE Arca: HECO) made its debut last month.

On July 25, 2012, Old Mutual Asset Management, the U.S.-based global asset management business of Old Mutual plc, has named John Harrington as Director of U.S. Consultant Relations, responsible for business development in the consultant channel.

Huntington’s second venture into the ETF market will be actively managed and use a sector-rotation strategy.

BNY Mellon has hired a former Northern Trust wealth strategist to be senior director in the firm’s Naples, Fla., office, in response to growing business in the region.

“What we should probably do is go and split up investment banking from banking,” Weil, 79, said today in an interview on CNBC. “Have banks do something that’s not going to risk the taxpayer dollars, that’s not going to be too big to fail.”

On July 25, 2012, Vanguard has filed a registration statement with the U.S. Securities and Exchange Commission to launch the Vanguard Short-Term Inflation-Protected Securities Index Fund in Q4.

Twenty-six year industry veteran Richard Ray is joining Stifel Nicolaus’s Honolulu office as vice president and portfolio manager.

Trading is down 18.9% from the first half of last year, according to statistics reported by members of the World Federation of Exchanges. Trading in the Americas is down 14.3%.

Discounted exchange-traded fund provider Vanguard now tops the field of leading ETF providers among advisors in another category: favorable impressions.

Olney, M.D.-based Arrow Investments is looking to add active exchange-traded funds and more alternative mutual funds to its quiver.

Three days in August 2007 will live forever in algorithmic investing infamy. Numerous quantitatively driven stock funds leapt en masse off a cliff-just like lemmings.

The tax-exempt market continued its rally Tuesday as positive supply and demand factors, as well as weaker stock markets due to European worries, buoyed safe haven assets.