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There's no doubt the baby boom retirement wave has created a tremendous opportunity for financial advisors. But those with less noble goals also see an opportunity, and they're putting financial advisors squarely in the crosshairs.

The state of Arizona this week signed a five-year contract extension with Nationwide Retirement Solutions to provide deferred compensation plans for more than 26,000 plan participants.

The operator of the New York Stock Exchange reported net income of $154 million, or $0.59 per diluted share, for the second quarter of 2011, compared to net income of $184 million, or $0.70 per diluted share, for the second quarter of 2010.

Despite arguments that retirees should be exposed to equities in order to bring enough growth in their portfolios to last throughout their retirement, Morningstar’s president of the investment management division, Peng Chen, argues in a new article that retirement portfolios must include a conservative bent that includes longevity-insurance products.

Private equity firm Warburg Pincus has acquired a majority stake in The Mutual Fund Store as well as a minority stake in Summit Partners, which invested in The Mutual Fund Store in 2006.

An aggressive push by the Justice Department to investigate fair lending claims is prompting a backlash from bankers who claim the government is abusing its authority and contradicting findings by other federal regulators.

David Stevens arrived as a commissioner at the Federal Housing Administration in 2009 vowing to restore financial discipline to a government housing body facing the stresses of a post-crash world. A former mortgage banker himself, Stevens, now 54, bolstered the agency's finances and pursued alleged wrongdoing at nonbank lenders including Berkshire Hathaway and Goldman Sachs & Co. affiliates.

It’s shocking how many rich and famous people make mistake and after mistake, which often leads to heirs fighting over inheritances. But, it’s not only the rich. Everyday across the country, people from all walks of life make the exact same mistakes time and time again. The only difference is the dollar amounts that they’re fighting over.

HighTower Advisors has hired two Washington, D.C.-based Bank of America Merrill Lynch financial advisors who previously oversaw more than $1 billion in client assets.

Bank of America Merrill Lynch has tapped its rival wirehouse firms with the hiring of seven new financial advisors representing $813.14 million in client assets under management.

Credit Suisse this week added Barbara Reinhard as the new managing director and chief investment strategist of its Private Banking Americas group.

Whatever the members of the House and Senate do Monday night with the deficit ceiling and deficit-trimming bill that is being put to a vote, the U.S. is not out of the woods yet, according to Morningstar Investment Management economist Francisco Torralba.

Huntington Funds this week announced the debut of its Huntington Disciplined Equity Fund which purports to offer investors a fund that delivers solid, stable annual returns with lower volatility than mutual funds.

Columbia Management has launched the Columbia Flexible Capital Income Fund, which seeks to provide income generation and capital appreciation.

Fidelity Investments has promoted Derek L. Young from chief investment officer to president of the asset allocation division. He succeeds Boyce L. Greer, who recently became head of institutional investments for Fidelity Asset Management and vice chairman of Pyramis Global Advisors. Young now reports to Greer.

Despite arguments that retirees should be exposed to equities in order to bring enough growth in their portfolios to last throughout their retirement, Morningstar’s president of the investment management division, Peng Chen, argues in a new article that retirement portfolios must include a conservative bent that includes longevity-insurance products.

Private equity firm Warburg Pincus has acquired a majority stake in The Mutual Fund Store as well as a minority stake in Summit Partners, which invested in The Mutual Fund Store in 2006.

Janus has launched the Janus Asia Equity Fund, which aims to deliver long-term growth by investing in both developed and emerging markets in Asia, ex-Japan.

The Securities and Exchange Commission is considering requiring money market funds to set aside 1% to 3% of their assets and lifting the $1 net asset value, sources with knowledge of the discussions told Bloomberg News. The SEC may require any fund that did not set aside the capital buffer to revert to a floating NAV within 60 days.

Organization and communication are key components of both how a financial advisory firm should be run and the work that firm does for its clients, according to Grant Rawdin, president and chief executive officer of Wescott Financial Advisory Group, which has offices in Philadelphia, Miami, Boca Raton and Washington, D.C.