Advisers are turning to annuities, using tactical asset allocation and continuing to move to fee-based business models, as they cope with the effects that the sluggish economic climate is having on their practices, according to findings from the latest Financial Professional Outlook from Russell Investments.

The asset management industry felt the ground shift under its feet during the recent financial crisis, but signs of resiliency persist, according to a new benchmarking study by the McKinsey & Co. consulting firm.

Atlantic Trust, a private wealth management firm in Atlanta, has appointed Logan Allin to the newly created post of head of strategy and client experience.

Flagstar Bancorp swung to a fourth-quarter loss as the company took an $80 million noncash charge to earnings because of the tax reform bill.

The agency is winning praise for changes in how loans are evaluated for defects, which could cut down on the risk of enforcement actions.

The Illinois company reported strong loan growth, an wider net interest margin and a one-time net tax benefit of nearly $8 million tied to recently passed tax reform.

Some categories of businesses, such as restaurants, have different needs the program doesn't adequately address, says LendingFront's Jorge Sun.

The fees banks charge to merchants have skyrocketed because people are making more purchases using their credit cards during the pandemic. Lawmakers can cap these fees before they further eat into retailers' profits.

Careful due diligence is required when picking technology to expedite accounts payable automation, says Kofax's Michelle Trapani.