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Big U.S. banks could see profits jump 20% with deregulation

August 24, 2017

The deregulation winds blowing through Washington could add $27 billion of gross profit at the six largest U.S. banks, lifting their annual pretax income by about 20 percent. JPMorgan Chase & Co. and Morgan Stanley would benefit most from changes...

Is LPL's deal sweet enough for NPH's 3,200 reps and advisers?

August 16, 2017

LPL Financial's deal to acquire the National Planning Holdings Inc. broker-dealer network was embraced by Wall Street on Wednesday, but the 3,200 NPH registered reps and advisers who manage $120 billion in client assets must evaluate the deal...

ETFs making emerging markets vulnerable to sudden outflows: Citi

August 16, 2017

Add Citigroup Inc. to the list of analysts and investors concerned by the bumper inflows into emerging-market ETFs this year. After attracting almost $47 billion of new cash so far this year, exchange-traded funds have made developing nations...

European junk bonds posted highest returns after financial crisis

August 15, 2017

If you'd bought European high-yield bonds the day the global financial crisis erupted, closed your eyes and held onto them through the unprecedented events of the following decade, you would now be sitting on a 100 percent return. On the other...

Wells Fargo looks unusually cheap, but investors fret mojo's gone

August 1, 2017

After yet another scandal, it's time for would-be Wells Fargo & Co. shareholders to decide: Is this a rare buying opportunity or has the bank lost its mojo? Not since 2011 has Wells Fargo been so cheap relative to its U.S. competitors. For years,...

Betterment targets more affluent investors

May 24, 2017

Citigroup Inc. doesn't think its richer customers will drop their high-priced money managers in favor of automated investing, but Betterment is betting it can prove the big bank wrong. The robo-adviser — the largest of the independent digital...

Trump miscues, more cash becoming available will drive summer muni bond rally

May 19, 2017

Municipal bonds got a lift this week as turmoil surrounding President Donald J. Trump's administration sparked a flight to safe assets. An even bigger boost will come this summer as investors will receive a flood of cash that will outstrip the...

Markets looking for policy details in Trump's speech

February 27, 2017

Donald Trump's address to Congress on Tuesday is taking on the importance of a State of the Union speech when it comes to U.S. financial markets. For investors relying on more than a year of campaign promises of a pro-growth agenda to push U.S....

Smooth transition expected at LPL Financial under new CEO Dan Arnold

December 5, 2016

A smooth transition is expected when Mark Casady hands over the reins of LPL Financial to Dan Arnold in January, with one analyst saying the CEO's departure at this time indicates the company is likely not for sale after all. According to an...

Former Citigroup broker claims she was victim of gender discrimination

November 29, 2016

A former Citigroup Inc. broker in New York has sued the bank claiming she was reduced to “a glorified secretary” because of her gender and fired when she reported a superior for violating rules designed to prevent insider trading. Erin Daly...

Finra suspends ex-Morgan Stanley client administrator for fraudulent wire transfer

October 17, 2016

A former client service administrator at Morgan Stanley was fined and suspended by the Financial Industry Regulatory Authority Inc. for fraudulently transferring a total of $108,680 out of a client's account to third party bank accounts and...

LPL hired Goldman after receiving an unsolicited acquisition offer

October 13, 2016

After receiving an unsolicited offer from a potential buyer that it considered low, LPL Financial Holdings Inc. hired Goldman Sachs Group Inc. to evaluate the bid, according to sources inside and outside LPL who are familiar with the matter....

Morgan Stanley adviser who managed $240M in assets jumps to Merrill Lynch

September 27, 2016

A financial adviser who previously managed more than $240 million in client assets has left Morgan Stanley to join Merrill Lynch. Brad Weinman serves high-net-worth individuals and families in West Palm Beach, Fla. Last year, he generated revenue...

Morgan Stanley team managing $600 million in assets joins Wells Fargo

September 26, 2016

A group of Morgan Stanley financial advisers that managed more than $600 million of client assets has joined Wells Fargo Advisors. Michael Dechiario, managing director, and Thomas Charmley, senior vice president, will lead a team that includes...

Morgan Stanley urges advisers to embrace female-friendly investment strategies

September 21, 2016

Morgan Stanley is urging its financial advisers to talk with clients about investing in companies that are supportive of women through employment or their products and services. The investment firm this week began providing its almost 16,000...

Morgan Stanley team with $427M in assets jumps to Wells Fargo

September 6, 2016

A team of financial advisers that manages $427 million of client assets has left Morgan Stanley for Wells Fargo & Co.'s brokerage business. Brian Latz, John Cicillini and Kenneth Cariota last week joined Wells Fargo Advisors' branch in Paramus,...

Finra panel directs broker to pay Wells Fargo almost $1 million after his termination

August 4, 2016

Broker Robert Edward Loftus must pay Wells Fargo almost $1 million in compensatory damages after his termination in 2013, according to the Financial Industry Regulatory Authority Inc. An arbitration panel decided that Mr. Loftus owes the firm...

Finra bars broker James Van Doren for money laundering scheme

April 25, 2016

The Financial Industry Regulatory Authority Inc. said Monday it barred broker James Van Doren for a money laundering scheme that deceived creditors who were attempting to claim assets of his friend's business. Mr. Van Doren, who was earlier...

U.S. stocks join global slide as financials lead selloff

February 11, 2016

U.S. stocks fell, with the Standard & Poor's 500 Index remaining near a 22-month low, as investors shunned risk worldwide amid concern that central-bank efforts to support growth are losing their potency. Banks led the early retreat, with Citigroup...

LPL faces reckoning from activist investor

September 25, 2015

LPL Financial Holdings Inc. could be in for a fight as it finds itself the target of an activist investor with a history of pushing for major reforms. Marcato Capital Management, led by Richard McGuire, disclosed this week that it had accumulated...

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