IRVINE, Calif. — A debate is brewing over the establishment of retail-sales-practice guidelines for structured products.
Aiming to forestall defections and address merger-related anxieties, Wachovia Securities LLC and A.G. Edwards Inc. announced broker retention packages Friday.
Postnuptial agreements are gaining popularity as an estate-planning tool, and some hedge funds and private-equity firms have asked their top executives to sign them to protect their companies in case of a messy divorce, according to attorneys and financial advisers.
Brokers at A.G. Edwards Inc. won’t have to worry about losing their wealthy clients, according to Stan Kelly, president of Wachovia Wealth Management.
J. Thomas Bradley Jr., president of TD Ameritrade Institutional, is feeling the heat from financial advisers as he tries to balance their concerns and the demands of his parent firm, TD Ameritrade Holding Corp., to continue to increase assets.
In an effort to charge up its top registered representatives and financial advisers, Raymond James Financial Services Inc. is giving bonuses to its biggest-producing brokers.
Lehman Brothers Holdings Inc. said that it has raised $1.5 billion for its new Lehman Crossroads Fund XVIII fund-of-funds.
Morgan Stanley is looking at investing in between two and three fund-management companies in China, according to MarketWatch.
Brokers at A.G. Edwards and Wachovia Securities got details of their retention packages today.
Bear Stearns today said its earnings dropped, while Goldman Sachs reported a slight decline in revenues.
Goldman Sachs Group Inc. will purchase a stake in ICICI Financial Services in Mumbai, India, published reports said.
To rev up its top reps and advisers, Raymond James is giving bonuses to its biggest-producing brokers.
The Bear Stearns Cos. Inc. is liquidating holdings from a recently formed hedge funds after it lost money on subprime mortgage bonds.
James Livingston has been tapped as CEO of National Planning Holdings, replacing Shawn Dreffein.
Fidelity Investments has sold nearly all of its shares in Dow Jones & Co., the target of a $5 billion takeover bid by Rupert Murdoch’s News Corp.
Wachovia Corp. last week put the finishing touches on its retention package for brokers with A.G. Edwards Inc., and the company plans to announce details as early as today or as late as Wednesday.
Merrill Lynch, Morgan Stanley, Smith Barney and Charles Schwab are being sued for allegedly illegally forcing clients into lower paying deposit accounts, enabling the firms to reap “billions” in extra profits.
Wachovia Corp.’s planned $6.8 billion purchase of A.G. Edwards Inc. could make an already competitive sales game even tougher for U.S. mutual fund firms, some analysts said.
