After the financial crisis, investors are asking advisors for both downside protection and returns. Many are turning to so-called “tactical allocation strategies” to beat the market, but do they really have the skills?

   

...

LPL Financial reported lower profits for the third quarter on subdued advisor productivity, as the markets reopened Wednesday following Hurricane Sandy. Advisors impacted by the storm represent 10-15 percent of the firm’s GDC.

UBS suffers, but brokerage unit, retail financial advisory business performs well in third quarter.