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UBS AG updated the loss from its unauthorized trading scandal on Sunday to $2.3 billion from its previous $2 billion estimate, and also provided more details on how the alleged fraud was perpetrated.

Around the time they turn 50, many people unconsciously begin to ratchet up their spending. Instead, prominent retirement planning scholar Alice P. Munnell thinks financial planners need to wage a campaign to get their clients to hit the pause button at this crucial midpoint in their lives.

Developing economies of the world are still showing robust growth, but that may not be enough to lift the sagging economies of the developed world which still account for 60% of combined global economic output, warns Lin Yifu, a World Bank senior vice president and chief economist.

The Investment Company Institute hosted the 2011 Tax and Accounting Conference September 11–14 at the JW Marriott Desert Springs in Palm Desert, California. Here are a few of the many people who made it the place the discuss tax, accounting, and regulatory developments. See the photo gallery here.

Fidelity Investments has added five funds to its Spartan equity index lineup: the Spartan Emerging Markets Index, Spartan Global ex-U.S. Index, Spartan Real Estate, Spartan Mid-Cap and Spartan Small-Cap funds. This brings the total number of funds in this family to 13.

The unstable economic, political and investing climate dominated the sessions at this year's Investment Company Institute Tax and Accounting Conference.

Schroders has hired David Jodka as national sales manager of U.S. intermediary distribution, overseeing a team of 11 sales professionals, seven of whom are external wholesalers. Jodka reports to Carter Sims, head of U.S. intermediary distribution.

PALM DESERT, CALIF.-As investors have fled equity funds, the industry's move into alternative investments has become one of the biggest concerns of directors of the board.

PALM DESERT, CALIF.-"The past 60, 90 days have been the craziest that risk managers have ever faced in their careers, in terms of the national debate over the U.S. debt ceiling, market volatility and a host of other key risks asset managers are now facing," said Joseph A. Carrier, chief risk officer at Legg Mason.

Using a LifeBio Event can help financial advisors strengthen client bonds and connect with their heirs. Here is how one advisor created a “Norman Rockwell” experience for his very best clients and their special guests. It’s a smart way to build bridges and engage the next generation while positioning yourself as the advisor of choice. You can do it too.

Retirement planning used to be easy. Ten years ago it was a simple mathematical calculation that you could apply across the board to just about everyone. But today, with so many different visions, versions and variables impacting each client, retirement planning has become both a financial planning puzzle and an emotional minefield.

While both hedge funds and equities lost value in August, hedge funds outperformed equities by more than five percentage points. The Dow Jones Credit Suisse Hedge Fund Index fell 2.3% last month, but the Dow Jones Global Index of equities declined 7.69%.

Investors yanked $33.6 billion out of U.S. mutual funds in August, one of the biggest months on record with redemptions, according to Strategic Insight. Year-to-date, redemptions have totaled $21.2 billion, according to the research firm.

Sub-advised mutual fund assets will grow 29% over the next five years, rising from $1.7 trillion to $2.2 trillion in 2016, Financial Research Corp. predicts. This will result in an 11% compound annual growth rate.

Vanguard has announced it will pursue the small 401(k) market, i.e. plans with less than $20 million in assets and fewer than 1,000 employees, with low-cost, bundled plans administered by Ascensus.

Managing the growth of a small financial advisory firm is tricky but important as planners face decisions about growing the client roster, adding staff and maintaining work-life balance.

Planners can prove their worth if they find ways to lessen the chance that their clients will not outlive their retirement funds. David Blanchett, director of consulting and investment research for the Retirement Plan consulting Group of Unified Trust in Lexington, Ken., on Friday detailed how planners can implement sustainable withdrawal strategies so that retirement income works for their clients.

With an increasing number of countries now banning commissions for planners, many practitioners impacted by the changes are finding fee-only services actually benefit their businesses -- if they structure fees to match their strengths, according to panelists at FPA's annual conference in San Diego.

“The referral whisperer,” aka Michael Brizz, held a group of 100 financial planners rapt today in San Diego when he insisted that “there are literally thousands of referrals in your client database today. Clearly the opportunity is huge.”

Our discussion boards have been pretty heated over the past week, as readers have debated whether or not moving up the Wall Street corporate ladder is harder for women than for men.