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At the Fidelity Brokerage Company’s Executive Forum, President Ellyn McColgan said FBC is increasing overall technology spending to $950 million. “We’ve probably spent about $10 million a year on technology just for RIAs,” she said, “we’re going to bring that up to $30 million this year.” The recipient of that largesse, Fidelity Registered Investment Advisor Group, will enhance its Advisor Channel platform to include online cashiering and customer service requests, and the ability to pre-fill new account applications and other forms using Microsoft’s .NET technology…

. . . A report by Schwab Institutional and Moss Adams, Recruiting Advisors Transitioning to Independence, reveals that advisors fleeing the wirehouses are primarily interested in joining established RIA firms because they offer the benefits of independence combined with an existing platform. . .

…The Rydex S&P Equal Weight ETF (RSP) split its shares four-for-one. The fund, which has benefited recently from its small-cap holdings, has returned 16.92% over the past year…

. . . Vanguard introduced the Vanguard Dividend Appreciation Index Fund (VIG), offering traditional fund shares as well as exchange-traded shares. The investor shares for the fund have a 0.40% expense ratio; the ETF has an expense ratio of 0.28%. Vanguard also filed with the SEC for two new equity index funds, the Vanguard Mid-Cap Value Index Fund and the Vanguard Mid-Cap Growth Index Fund.