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Until the Investment Adviser Registration Depository is adapted to handle the influx of advisors converting to state registration, not much will get done.

The Port Jefferson, NY team previously had $1.8 million in annual production and $277 million in assets under management.

FINRA has fined UBS Financial Services $2.5 million and ordered to pay $8.25 million in restitution for conduct related to the sale of Lehman Brothers Holdings principal protection notes.The fine and restitution is tied to alleged misleading of investors that took place in the sale of the principal protection notes, or PPNs, prior to Lehman Brothers’ Sept. 2008 bankruptcy filing. The PPNs promised a minimum return equal to an investor’s investment, according to FINRA, and were structured as fixed-income security structured products including bonds and options.

Fewer workers plan to use their tax refund to pay off bills, and more plan to use it for savings, indicating stronger faith in the economy, a survey of 3,900 people by CareerBuilder found.

Thirty-three percent of Boomers are worried they won’t have enough money saved for retirement, 34% do not know the age at which they will retire, and 57% plan to continue working, according to the findings of a survey by the Insured Retirement Institute.

Escalating global inflation is the biggest challenge for businesses struggle to recover from the recession, according to the latest Global Economic Conditions survey of 2,300 accountants by the Association of Chartered Certified Accountants.

Generation X and Y are warming up to investing more than any other age group, according to a survey by MFS Investments. But they remain largely reticent investors.

FINRA ordered Santander Securities of Puerto Rico to pay $2 million in fines and review its procedures that resulted in customer losses.

A new study published by Aite Group found that financial advisors can better leverage customer relationship management systems.

Integra Bank Corp. of Evansville, Ind., announced it has agreed to sell its wealth management arm to another Evansville bank, Old National Bancorp.

Washington Wealth Management, a Middleburg, Va., based registered investment advisory firm, announced it hired Jordan Ball as a regional vice president for its newly opened Richmond, Va., office.

Bankrate.com said there is a surprising amount of interest among investors in liquid CDs, step-up CDs, and bump-up CDs.

A survey of 15 top U.S. banks and credit unions found when it comes to mobile payments, most are content to sit on the sidelines and see how this emerging technology platform plays out rather than take a leadership role that companies from other industries have quickly assumed.

There’s no doubt that starting an advisory business can be harrowing, but finding good people to eventually take over your business may be even harder, says John Brackett, a regional director with Financial Network Investment Corp.

They are the Preferred and Income Securities and the Focused Equity funds.

And 50% of workers are not sure they will have enough money to live comfortably in retirement, EBRI survey funds.

While a slowdown in failures is consistent with an improving economy, and the FDIC says 2010 was a peak year for the recent crisis, many say there are still plenty of failures ahead.

Scott McCuaig stepped down from his leadership role at broker-dealer subsidiary Stifel Nicolaus & Co.

Forget retiring to a tony townhouse or a beach property in a warm climate. Clients are more concerned about having enough money for daily necessities, according to financial advisers polled by Sun Life Financial recently.A whopping 92% of advisers who responded to the Sun Life Financial study said their clients change their retirement income plans after retirement mainly to avoid running out of money, or to meet non-discretionary costs. More than one third, 34%, said clients adjust their plans to cover essentials, like unexpected healthcare costs. Just 21% said clients adjust plans to have more money for discretionary spending. Sun Life polled 477 financial advisers in March for the study.