Franklin Templeton has expanded its advisor services by appointing Robert Richardson as senior vice president and North American Spokesperson for its advisor services, reports Financial Planning.

Maureen Sloan, who is an heiress to the Knott’s Berry Farm theme park, has filed a claim against LPL Financial claiming one of its brokers lost $8.5 million with a fraudulent investment and with inappropriate trading of preferred stock, reports InvestmentNews.

Dick Durbin, who is the assistant Senate Democratic leader, plans to introduce legislation that will create a task force that will seek ways to shore up the U.S. Social Security retirement system, reports Reuters.