Matt Ackermann

SEI Advisor Network added 406 new registered investment advisers last year as it increased assets under management to $31.1 billion.

New York Private Bank & Trust Co. announced Tuesday it hired Kevin J. Batterton as a managing director of business development and portfolio management.

Citigroup Inc. announced Tuesday it has expanded its OpenWealth platform to include a complete package of trust accounting, operations outsourcing and custody services.

Easing market conditions helped LPL Financial realize a surge in net new advisers in the fourth quarter, and the company is confident it can continue.

To boost its business in the Northeast, Chicago's Northern Trust has hired three wealth advisers and a wealth strategist.

The Investment Management Consultants Association announced Jan. 27 that the cumulative pass rate for its CIMA qualification exam was 63%, and 58% for the CIMA certification exam.

LPL Financial, the largest independent broker-dealer, announced Monday that it supports the adoption of a uniform fiduciary standard for financial advisers, as recommended last week by a Securities and Exchange Commission study.

The CFA Institute announced Jan. 25 a pass rate of 36% for the 46,644 people worldwide who took the chartered financial analyst program, level one, exam in December, the first of three exams required to become a CFA.

Reliance Financial Corp. announced Jan. 25 that its subsidiary, Reliance Trust Co., has bought Harrington Wealth Management Co. from Pacific Western Bank.

Fewer wealthy Americans are using mutual funds, and among those investors who continue to use these investment products, allocations are down significantly.

Financial advisers are more optimistic about the economy than their clients are, according to a survey by SEI.

State Street Global Advisors announced Monday that it has completed its acquisition of Bank of Ireland Asset Management.

Morningstar Inc. announced Monday that its chief operating officer, Tao Huang, is leaving the company at the end of the month.

Smartleaf Inc. announced Monday that U.S. Bancorp has chosen it to provide a unified overlay platform for its nonbrokerage wealth management investment relationships managed through the private client reserve and private client group.

Wells Fargo Insurance Services USA Inc. of Chicago has acquired Prestige Professional Plans, a single-office employee benefits insurance brokerage in Dayton, Ohio.

Mariner Wealth Advisors of Leawood, Kan., has acquired CBIZ Wealth Management of Cleveland, an individual wealth management firm formerly associated with CBIZ Inc.

A survey by TD Ameritrade shows that independent registered investment advisers are worried about the time and money associated with pending regulatory changes.

Most asset managers expect revenue and assets under management to grow next year, despite concerns about regulatory changes and information technology operations.

Investors who work with a financial professional report saving significantly more for retirement, according to research by ING Retirement Research.

Bank of America Merrill Lynch announced Monday that it has introduced electronic foreign exchange options trading for institutional and corporate clients.