Advisor News

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RETIREMENT PLANNING OCT 18, 2012
Are advisers giving bad Social Security advice? Survey says yes

New research from Wharton shows that many financial advisers are giving their clients shortsighted -- or plain bad -- advice about Social Security.

By Mary Beth Franklin
Smith Barney write-down helped seal Pandit's ouster: Source
WIREHOUSES OCT 17, 2012
Smith Barney write-down helped seal Pandit's ouster: Source

A source claims Vikram Pandit was ousted as Citigroup CEO due to a series of missteps, not one incident. The last straw? The sizeable accounting hit the bank took from the plummeting valuation of Smith Barney.

By Gregory Crawford
INsider: Morgan Stanley in recruiting cross hairs, headhunters say
WIREHOUSES OCT 17, 2012
INsider: Morgan Stanley in recruiting cross hairs, headhunters say

Headhunters say rivals are stepping up efforts to recruit Morgan Stanley reps. But will they succeed?

By AOSTERLAND
WIREHOUSES OCT 17, 2012
BofA settles with investors, but what about reps?

Bank of America on Friday agreed to a $2.43B shareholder settlement over the acquisition of Merrill Lynch. It's unclear if this bodes well for ex-reps who are suing the brokerage for deferred comp.

By AOSTERLAND
Weil: Pandit's math on Smith Barney didn't add up
WIREHOUSES OCT 16, 2012
Weil: Pandit's math on Smith Barney didn't add up

Gain from sale included in non-GAAP numbers in 2009 -- but hit from recent write-down wasn't

By Jonathan Weil
RETIREMENT PLANNING OCT 16, 2012
Seniors to get puny Social Security COLA

By Mary Beth Franklin
Romney embraces his Inner Massachusetts
REGULATION AND LEGISLATION OCT 16, 2012
Romney embraces his Inner Massachusetts

In the first presidential debate on Wednesday night, Republican presidential nominee Mitt Romney did something that he's resisted since he began his quest for the White House 18 months ago. He embraced his Inner Massachusetts. That moved him to the political center, where investment advisers reside.

By Mark Schoeff Jr.
Advisers: Romney performance will jump-start GOP campaign
REGULATION AND LEGISLATION OCT 16, 2012
Advisers: Romney performance will jump-start GOP campaign

Say debate clearly won by the Republican presidential candidate; 'extremely strong'

By Liz Skinner
Purchase of MSSB a steal of a deal?
WIREHOUSES OCT 16, 2012
Purchase of MSSB a steal of a deal?

An arbitrator this week said Morgan Stanley's brokerage unit is only worth $13.5 billion, not $22 billion. So how is that a victory for Morgan Stanley?

By John Goff
More reps' acting as PMs — but are they up to speed?
WIREHOUSES OCT 15, 2012
More reps' acting as PMs — but are they up to speed?

Morgan Stanley's Hatch says only about 10% of advisers currently have sufficient expertise in stock selection

By JKEPHART
RIA NEWS OCT 15, 2012
The dream B-D destination of breakaway advisers

Independent B-D LPL Financial LLC and regional brokerage Raymond James Financial Inc. top the list of most-desired destinations for potential breakaway advisers.

By AOSTERLAND
Health of long-term-care insurance business questionable: Moody's
RETIREMENT PLANNING OCT 15, 2012
Health of long-term-care insurance business questionable: Moody's

The outlook for the LTCI business is not good. The reason? Partly, the unexpectedly large tabs being rung up by existing policyholders.

By Darla Mercado
RETIREMENT PLANNING OCT 15, 2012
Coming soon: National Advisors Trust on Schwab platform

Company expanding its administrative services to yet another custodian's network

By DJAMIESON
WIREHOUSES OCT 15, 2012
How Merrill Lynch plans to 'grow' thousands of advisers

The need - and the case - for developing and introducing new talent into the financial advice business has been well-documented: The total number of practicing FAs has been steadily decreasing for years, at a time when more individual investors are in need of advice. Practicing FAs, of course, are also getting older each year, creating a greater need for internal successors in many cases.

By Mark Bruno
RETIREMENT PLANNING OCT 14, 2012
ING sends incorrect statements to 75,000 VA customers

By Darla Mercado
REGULATION AND LEGISLATION OCT 14, 2012
Recession at bottom of cliff

By DJAMIESON
OPINION OCT 14, 2012
Investors' covert ops often end in defeat

Enticing individual investors to trade on their own is a dangerous game, especially in this complex and convoluted marketplace.

By MFXFeeder
REGULATION AND LEGISLATION OCT 14, 2012
Explosion of crowd-funding sites has regulators worried

By DJAMIESON
WIREHOUSES OCT 14, 2012
I'm a rep, I'm a PM, too

More brokers picking stocks for clients -- but are they up to speed?

By JKEPHART
RETIREMENT PLANNING OCT 14, 2012
Jackson 'slap' as firm cuts VA features

Advisers not thrilled by short deadline on variable annuity pullback

By Darla Mercado