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The Financial Planning Association, anxious to build its cache of student chapters at colleges across the country, set aside time at the organization’s annual conference in San Diego this week to instruct young attendees how to start their own chapters.

“It’s hard to approach someone" — a prospective employer, for example — and say, ‘I want to be an owner,’” confessed Brett Spencer, a 23-year-old masters student in financial planning from Texas Tech University.

Raymond James & Associates has hired a four-member financial advisor team that was previously producing more than $3.6 million in annual fees and commissions at Robert W. Baird & Co.

After underperforming its benchmark and losing two-thirds of its assets under the watch of Harry Lange, the Fidelity Magellan Fund has a new manager. Jeffrey S. Feingold is now running the $17.4 billion fund.

Morgan Stanley has announced that John J. Mack will step down as chairman of the firm and leave the board of directors at the end of this year, and James Gorman will take over that position.

UBS said it estimated it had lost $2 billion from unauthorized trading, by one trader. In connection with the case, London Police arrested a 31-year-old man, in the middle of the night.

Morgan Stanley Smith Barney has hired three financial advisors from RBC Capital Markets and UBS Financial Services in Connecticut and South Dakota.

Morgan Stanley this week said Vincent Reinhart will join the firm as its chief U.S. economist next month and lead a team that includes U.S. fixed income economist and managing director David Greenlaw.

Deloitte Consulting has promoted Elizabeth Krentzman from principal to head of its mutual fund practice, a new position at the firm that oversees its auditing, tax, financial advisory and consulting businesses for the fund industry.

Genworth Financial Wealth Management appointed former Citibank and Charles Schwab executive Myra Rothfeld as its chief marketing officer.

Opportunities are certain to be abundant for Sallie Krawcheck, the former president of global wealth and investment management at Bank of America Merrill Lynch who was shown the door in a Tuesday evening management shakeup. But can the same be said for the advisors left behind?

Deloitte Consulting has promoted Elizabeth Krentzman from principal to head of its mutual fund practice, a new position at the firm that oversees its auditing, tax, financial advisory and consulting businesses for the fund industry.

Morningstarhas promoted William Harding to head of manager research for its investment management division, a new position in which Harding will develop best practices in investment manager research and selecting.

The Bank of New York Mellon Corp., the world’s largest custodian bank, said late Wednesday said that Robert Kelly stepped down as chairman and chief executive officer due to differences with the bank’s directors over his management.

UBS Wealth Management Americas hired 11 advisors with $1.2 billion in AUM. The largest team included six Morgan Stanley Smith Barney advisors in Washington, D.C. including David Andreadis, Karen Ben-Shlaush, Richard Haskin, Frederick Schultz, Lloyd Seested and Eric Teichberg. Together, they oversaw $659 million in client assets.

Morningstar has promoted William Harding to head of manager research for its investment management division, a new position in which Harding will develop best practices in investment manager research and selection.

BNY Mellon Asset Management has promoted Christopher Sheldon to chief investment officer of The Dreyfus Corp. Sheldon hails from BNY Mellon Wealth Management, where he was director of investment strategy and president of BNY Mellon Funds.

J.P. Morgan Asset Management has hired James Gearin as chief operating officer of its retirement plan services business, reporting to the unit’s CEO, David Musto.

Janney Montgomery Scott has hired financial advisor James A. Baber IV, who previously oversaw $61 million in client assets, to join the Strange Group in the firm’s Richmond, Va. office.

Bank of America Merrill Lynch has hired Wells Fargo financial advisor Adam Gurien, who previously oversaw $283.3 million in client assets.