Pamela J. Black

LPL announced on Monday that it will move all Uvest bank brokers from Pershing to LPL's self-clearing platform.

It's not every day one of the 10 largest independent broker-dealers announces it has made financial institution investment programs a priority.

According to the Chicago company's monthly newsletter, millionaires under 45 said they prefer self-directed investing and they find the services of a professional adviser to be too expensive. The newsletter was released last week.

Annuities sales through banks maintained their modest recovery pace in April after hitting record lows at the beginning of the year.

There's a growing divide between the way bankers and consumers view the banking industry, according to the annual Bank Administration Institute Index of Bank Consumer Sentiment.

Fixed and variable annuities sold through banks started the year in the dumps, hitting their lowest point in a decade, according to the latest Kehrer-Jackson monthly bank annuity sales survey.

TD Bank Financial Group said Wednesday it is "transitioning out of" its financial advice business.

Not many clients can invest in a fund that regularly beats the Standard & Poor's 500 index, with less risk, and enjoy the ability to call the managers' cell whenever they want. But that combination of acumen and access has helped Brock Kidd become an $830,000 producer at the $5 billion-asset Pinnacle National Bank in Nashville.

Being a certified public accountant helps Rhonda Arnett in her work as a Primevest adviser at Columbia State Bank in Tacoma. It's especially helpful for the wealthy clients she now serves as a partner to private and commercial bankers.