As we put this issue to bed, we're seeing more signs of the economy climbing out of recession.

For instance, retail sales rose in February, beating expectations of economists who had predicted a 0.2% decline. What it showed was that the consumer-driven economy of the United States might be down, but it's not out. In fact, February retail sales rose 3.9% compared to the same month in 2009. The Dow has been rising as well, hitting 10,600 by mid-March. The unemployment rate, the real problem, has remained steady but, at least, it hasn't climbed. You would think that consumer sentiment would head up on this news, however it actually went down slightly.

But whether investors are positive or pessimistic, financial advisors have to do their best to get the best returns for their clients as well as safeguard their wealth. That's been quite a chore throughout this recession. With that in mind, this month our cover story examines exchange-traded funds and closed-end funds in "New Strategies for A New Day." On page 24, writer Elizabeth Wine not only names some star performers but also the laggards as well. She concentrates primarily on where ETFs are going as they evolve.

In our second feature, we focus on a new type of prospecting: "Life Style Referrals." Writer Lauren Barack recounts some interesting ways that top advisors have attracted new clients. One advisor looked at what kind of everyday purchase was causing his customers a great deal of anxiety. He turned that into a mother lode of referrals. A hobby or interest of a client turned into another opportunity for a Merrill Lynch private banker. And, in another case, a referral was as easy as apple pie. So, turn to page 30 and find out more.

Another great idea that helps with practice management comes from one of our regular columnists, Gerri Leder. She says we need to take a page from those in the legal profession. In "Great Advisors, Like Great Litigators, Perfect the Art of Discovery," on page 41, Leder delves into a skill used by trial lawyers and recommends that financial advisors adopt it. "Uncovering your clients' financial needs is as important to your practice as the legal facts are to an attorney's case," she says.

We also have an interview in Life Stories with Jerry Lombard, president of the private client group at Janney Montgomery Scott. Not only will you discover that he is the eldest child in a large family but also just how early his interest in stocks began as well as what sport has played a big role in his life and shaped his career.

As usual, we bring you a variety of articles that, we hope, enhance different parts of your professional life. So, take your time and read this issue and then share your viewpoints with us.

Frances McMorris was named editor-in-chief of ON WALL STREET in February 2008, after serving as executive editor since December 2004. She also created and serves as the host of AdvisorTV, an online video interview show appearing at onwallstreet.com.

From indictments to verdicts and appeals, Ms. McMorris has covered many major, high-profile cases in both federal and state courts as a legal affairs reporter for The Wall Street Journal, The New York Daily News, Newsday and The New York Law Journal. The cases that she has covered include: the seditious conspiracy trial of Sheik Oman Abdel Rahman, the blind Egyptian cleric convicted of being the spiritual mastermind of the 1993 World Trade Center; the constitutional battle over the “Don’t Ask, Don’t Tell” military policy; the Crown Heights riot murder trial; federal racketeering cases against violent gangs; the Long Island pet cemetery trial and several securities fraud and insider trading cases, among others.

The legal issues she has written about are diverse and numerous, ranging from economic espionage to employment discrimination rulings and the first story to report that there is no expectation of privacy for employee emails written in the workplace.

Ms. McMorris is a 1993 graduate of Fordham University School of Law and admitted to the New York and New Jersey bars. She has appeared on the former CNNfn to give expert commentary on trials.

She also served as president of the Newswomen’s Club of New York for three years while working as an assistant managing editor at The Daily Deal in New York.

ON WALL STREET magazine has a circulation of more than 90,000—reaching financial advisors and brokers at the most prestigious brokerage firms who serve high-net-worth and ultra-high-net-worth investors.