The survey by the FPA's Journal of Financial Planning found more than half of advisors recommend clients allocate to funds with access to alternative investments. Almost 25% allocate to PE funds, twice the number from four years ago.

Franklin Templeton will initially pay $925 million in shares and cash to acquire Putnam from Great-West Lifeco Inc.

Retail options traders are gambling, driven by sentiment and narratives. That often leads to future price declines on the overbought stocks, research shows.

Clients rarely have well-defined ideas about what they want their portfolios to look like. That’s why they seek out advisors in the first place.