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Americans are divided on their outlook for the economy, a Harris poll of 2,464 adults earlier this month found. Twenty-one percent expect the economy will improve, 45% think it will stay the same, and 34% fear it will get worse.

UBS AG announced that CEO Oswald Gruebel has resigned and that Sergio Ermotti will assume the top spot at the Swiss bank on an interim basis.

Financial Advisers of America on Monday announced that Honolulu-based CKW Financial Group has joined its family of investment advisors, bringing more than $900 million more in assets under management to the San Diego-based broker-dealer.

Investors reaching or in retirement are much more likely to stay in the stock market if they’re invested in financial products that provide guaranteed income. That was one of the major findings this week from an online survey Prudential conducted in May of this year.

Orion Advisor Services unveiled the latest release for it Advisor Desktop portfolio management suite for RIAs on Monday with new features designed to make it easier for advisors using the primary database management tool to rebalance their clients’ portfolios and create tax efficient strategies at the household level.

The Department of Labor announced Monday that it has pulled its current proposal for the definition of a fiduciary off the table. The agency will take up the issue in early 2012 and re-propose a fiduciary definition after more industry input.

Atlantic Fund Services has hired Marianne K. Smythe, former director of the division of investment management at the Securities and Exchange Commission, as an analyst of mutual fund products and other pooled investments. Smythe also worked at the SEC's division of market regulation, was deputy director of the Commodity Futures Trading Commission, taught law and was assistant provost at the University of North Carolina at Chapel Hill and was a partner and head of the investment management practice group at Wilmer Cutler Pickering Hale and Dorr. Smythe will continue as an independent trustee for The Rohatyn Group of Funds.

NEW YORK-"We are not in a death spiral, like we were in 2008 with Lehman Brothers," maintained Scott Migliori, U.S. chief investment officer of RCM, an asset management firm that is a member of Allianz Global Investors.

Muni investors have herded into short-term debt the last few months thinking that if rates rise, longer-term bonds will plummet in value and it will be good to have cash on hand to reinvest at higher rates. But are short-term bonds really such a safe haven?

Banks are starting to notice that their online banking and mobile sites are not as good as customers expect.

Advisors may want to take steps now to protect their clients’ portfolio’s from a "contagion" should the Greek government default, because, as Ken Volpert, head of Vanguard's Taxable bond Group sees it, default by Greece is a development that appears to be more and more likely by the day.

Within a day of each other, two companies -- Guggenheim Investments and Invesco -- launched new exchange traded funds for Chinese yuan-denominated bonds on the New York Stock Exchange.

Insuritas, a leading provider of outsourced insurance agencies, said it has reached an agreement with BancorpSouth to provide agency-integration insurance capabilities for the bank-owned insurance agency.

Investors reaching or in retirement are more likely to stay in the stock market if they’re invested in financial products that provide guaranteed income, an online survey of 1,000 Americans shows.

The Association of Divorce Financial Planners on Friday awarded its annual Pioneering Award to Dan Caine and Wendell Smith, the founders of Family Law Software Inc., for developing tools that help advisors work with couples going through a separation.

As Bank of America Merrill Lynch continues to streamline its business, it has created a new global wealth and retirement solutions organization, said Andy Sieg, who heads the new unit, in an internal memo to employees on Friday.

The latest entrant into the wealth management arena comes not from Wall Street but from just outside Silicon Valley, and is taking dead aim at the Internet brokerage space for higher-end investors with a slick Web-based dashboard, holistic account monitoring and a stable of financial advisers to complement the technology with a human touch.

The Securities and Exchange Commission charged the co-founder of institutional money manager AXA Rosenberg with securities fraud for concealing an error in the computer code that helped the company manage risk for its customers and itself.

Credit Suisse has launched the Credit Suisse Global Equity Market Neutral ETN, its fifth alternative exchange-traded note.

Fidelity Charitable has created an array of seven investment options offering diversification across asset classes and risk. In addition, Fidelity Charitable has created an online tool to help investors make investment decisions.