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Morgan Stanley Smith Barney has hired four new financial advisors from Bank of America Merrill Lynch and RBC Dain Rauscher.

Financial advisors are in huge demand among insurance companies that create the broad array of insured retirement income products. But if product creators want to succeed with that group, they need to get a few ground rules clear, a panel of financial advisors said during the Insured Retirement Institute’s annual conference on Tuesday.

Touchstone Investments and Old Mutual Asset Management have entered into an agreement whereby Touchstone will acquire the $2 billion U.S. mutual fund business of Old Mutual, bringing Touchstone’s assets to nearly $10 billion. The deal will also add several new sub-advisors to Touchstone’s roster of fund managers.

When it comes to retirement income, clients are concerned about rising health costs, and they probably also should be concerned about long-term care, said a top executive of Merrill Lynch's Retirement Income Program, in a keynote address at the Retirement Income Industry Association's fall conference.

Investors appear to have switched gears from focusing on replenishing their balances from 2008’s market downturn to taking all of the responsible steps to prepare for retirement.

The TCW Group has launched the MetWest Unconstrained Bond Fund, a mutual fund with the flexibility to invest across a wide array of global fixed income sectors.

BOSTON -- Top economists who spoke here at the Insured Retirement Institute annual conference told attendees to brace for fundamental paradigm shifts as they wait for global and domestic economies to stabilize.

Merrill Lynch, Pierce, Fenner & Smith Inc. has been fined $1 million for supervisory failures that allowed a Texas broker to run a Ponzi scheme.

Top economists who spoke here at the Insured Retirement Institute annual conference told attendees to brace for fundamental paradigm shifts as they wait for global and domestic economies to stabilize.

Merrill Lynch, Pierce, Fenner & Smith Inc. has been fined $1 million for supervisory failures that allowed a Texas broker to run a Ponzi scheme.

Putnam Investments has launched the Putnam Dynamic Risk Allocation Fund, a ’40 Act mutual fund that uses the “risk parity” approach of its successful Putnam Total Return portfolio for institutional investors, which has delivered average annual returns of 9% since inception five years ago.

State Street has acquired Complementa Investment-Controlling AG, a Swiss supplier of investment performance measurement and analytics services.

As Bank of America Merrill Lynch moves to strengthen its overall focus on institutional clients, it has renamed its Institutional Consulting Group and hired a new advisor team working with more than $2.7 billion in client assets.

Marketing expert Marie Swift details a strategy that works for financial advisors and allied professionals who are interested in serving families with significant wealth. And while this strategy works especially well for that demographic, the truly high-net-worth crowd, there are also applications for advisors who serve the middle-market millionaire and mass affluent.

Renaissance Capital has installed trade surveillance software from Redkite Financial Markets.

State Street said it acquired Complementa Investment-Controlling AG, a Swiss supplier of investment performance measurement and analytics services.

Loomis Sayles rolled out the Loomis Sayles Senior Floating Rate and Fixed Income Fund, aimed at navigating changing economic cycles by taking a flexible approach to investing in bank loans and other credit instruments.

Financial advisor Cheryl Peschke has moved to Raymond James & Associates from Morgan Stanley Smith Barney after finding the firm’s values were a match for her practice.

In our second annual Influencer Awards, Financial Planning honors six advisors whose innovative ideas and wide-reaching work are forging new paths for the planning industry. Here’s an interactive slideshow highlighting this year’s honorees.

CME Group said it set new monthly records for clearing both interest rate swaps and credit default swaps.