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BNY Mellon is opening a new wealth management office in Washington, D.C., the fourth-largest U.S. wealth market. The office is set to open later this month with staff expected to reach double-digits in 2012, said Larry Hughes, CEO of BNY Mellon Wealth Management.

Not only do Americans expect to work longer to save enough for retirement, they expect to work way longer. New research by Wells Fargo shows that the anticipated retirement age has now stretched as much as 15 years past age 65.

It’s perhaps the ultimate irony when a financial advisor files for bankruptcy. But the CFP Board finds it is happening more and more often. Of 103 disciplinary hearings the board held last year, an estimated 25% of planners involved had filed for bankruptcy. In 2011, that number jumped to about a third.

Fidelity has rolled out the next-generation of its Fidelity Investments for iPad app, available for free at the App Store or by updating an existing Fidelity iPad app.

Banks may be on shaky ground, but 43% of Americans see them as a trusted source for retirement advice, according to a survey by Hearts & Wallets. This is an increase from 41% a year ago.

Investors and financial executives are increasingly feeling overloaded by the volume and complexity of financial disclosure information in annual reports and other financial filings, according to a new study.

UBS Financial Services Inc. was fined $300,000 by FINRA for failing to supervise and prevent excessive cross-trading of municipal securities between the customer accounts of one broker for a two-year period.

Bank of New York Mellon said it would cut $650 million in costs over the next three years and be prepared to settle disputes involving its fees for foreign exchange transactions.

More than a third of high-net-worth individuals don't have confidence in their beneficiaries to handle their inheritance responsibly, according to a new study by Barclays Wealth.

Banks may be on shaky ground, but 43% of Americans see them as a trusted source for retirement advice, according to a survey by Hearts & Wallets. This is an increase from 41% a year ago.

Eight in 10 advisors who sell annuities report that they are having more client discussions about retirement income planning than they did five years ago. And nearly two-thirds of advisors currently selling annuities indicate that guaranteed income options are expected to increase in importance over the next five years -- more so than any other factor.

HSBC Jintrust Fund Management has launched an on-shore RMB money market fund in China, raising RMB1.16 billion, or US$178 million, in its initial public offering, ended Oct. 28.

Stocks and bonds are moving in the opposite direction more so than anytime in the last 10 years.

Nearly nine out of 10, 87%, of Americans think the country will fall into another recession within the next two years, a Country Financial survey finds. However, only half, 51%, say they are prepared to handle it financially.

Calling the odds of a recession in the U.S. and beyond “uncomfortably high,” Morgan Stanley Smith Barney says it has shifted to an overweight position in safe haven assets and is underweighting risk assets. The change is “the most significant change to our tactical asset allocation in more than two years,” Morgan Stanley Smith Barney’s Chief Investment Officer Jeff Applegate and two colleagues wrote in a November markets report.

NEW YORK—“We believe in back-to-basics, commonsense investing with the goal of achieving some return above inflation while seeking lower volatility,” said Suzanna Hutchins, investment manager of global funds at Newton, an affiliate of BNY Mellon.

The Chase unit recommended risky investments to unsophisticated investors with little or no risk tolerance, FINRA said.

Not all Wall Street professionals will see a pay cut. Advisors and private bankers working directly with high net worth clients will likely see bonuses that are flat or even 5% higher.

Global X Funds has launched the Global X Social Media Index ETF (SOCL), which it says is the first ETF that will globally focus on social media companies. The fund will cover companies that provide social networking, file sharing and other web-based media applications.

Citi Prime Finance had launched “Hedge Fund 3.0,” an outsourcing operating model to cover the core functions of launching, managing and building out successful hedge funds. With the aid of this program, Citi said, hedge funds can focus instead on their investment management, marketing and investor relations.