Financial Planning

NEWS

• Stock Funds Lose Momentum to Bonds Again

  February 22, 2012

  Investors continued to steer money into stock mutual funds in February, though with much less enthusiasm. According to statistics released today by the Investment Company Institute, investors placed an estimated $1.04 billion into equity funds during the week ended Wednesday, Feb. 15, less than half the $3.64 billion they poured into the funds a week earlier.

• RiverNorth Stops Flows Into Strategic Income Fund

  February 22, 2012

  RiverNorth Capital Management said its RiverNorth/DoubleLine Strategic Income Fund will be closed to new investors on March 30, but current investors and advisors can still purchase shares after that date.

• BNY Mellon Adds Two to Tri-State Wealth Management Team

  February 22, 2012

  BNY Mellon Wealth Management has hired financial services veterans Kristopher Carney and Angela Smith Domzal to join its Tri-State wealth management team.

• Many Small Business Owners In the Dark on Retirement Plans, Fidelity Finds

  February 22, 2012

  About 60% of those with SIMPLE-IRAs were not aware that employer tax filing is not required.

• FSI Says It Helps Get Stretch IRA Tax Rule Dropped From Federal Highway Bill

  February 22, 2012

  “With our economy in the shape it’s in, and saving for retirement more difficult than ever, it was critical that this troubling provision be stripped from the bill,” according to a statement from FSI President and CEO Dale Brown.

• RMA Designation Program For RIAs Gets New Curriculum Director

  February 22, 2012

  Wade D. Pfau will oversee Retirement Management Analyst designation program as curriculum director.

• RBC Nabs Morgan Stanley Financial Advisor Team

  February 22, 2012

  RBC Wealth Management has reeled in a Morgan Stanley Smith Barney financial advisor team overseeing more than $350 million in client assets.

• Wells Fargo Tweets for Retirement Planning

  February 22, 2012

  Wells Fargo is using Twitter to spread the word about saving for retirement. The banking giant has been promoting “America Saves Week” by using its Twitter account, @Ask_WellsFargo.

• Financial Optimism Hits 2-Year High

  February 22, 2012

  Americans are regaining confidence in their financial security, according to a new survey by Country Financial.

• Fidelity Parent Raising $250M

  February 22, 2012

  FMR LLC, the parent of Boston-based Fidelity Investments, is looking to raise $250 million through a debt offering, according to a Securities and Exchange Commission filing. But how the company plans to use the capital is anybody’s guess at this point.

• Merrill Raises Bid For Rivals' Top Brokers: Sources

  February 22, 2012

  Bank of America's Merrill Lynch has launched a more aggressive recruiting campaign for top-tier brokers, including a bonus paid for transferring client assets after six months at the firm, said two sources familiar with the new plan.

• FINRA Orders Morgan Keegan to Pay Investor for ARS

  February 22, 2012

  A Financial Industry Regulatory Authority arbitration panel ordered Memphis-based Morgan Keegan & Co. to pay a Birmingham investor $1.95 million for misrepresenting that the Jefferson County, Ala., sewer bonds he purchased were safe, liquid and tax-free investments.

• Merrill Lynch Survey Highlights Shifting Retirement Needs

  February 22, 2012

  As the Baby Boom generation heads for retirement, the traditional notion that turning 65 automatically triggers retirement is changing.