Citi Personal Wealth Management, the last vestige of retail brokerage at Citigroup Inc. following its spinoff of Smith Barney last June, plans to launch its long-awaited referral program to outside registered investment advisers this summer.
The Charles Schwab Corp.'s effort to drum up business in its newly launched stable of exchange-traded funds by waiving commissions for its clients continues to draw intense interest from its competitors and advisers. At two separate conferences Wednesday, questions were raised about Schwab's ground-breaking decision with various levels of concern.
The credibility gap that has opened between large Wall Street banks and brokers, and their wealthiest clients, has created a growing opportunity for independent RIA firms.
What most worries the big guns of Wall Street about the Goldman Sachs blowup is the light it sheds on their operations and the consequences for their business models.
Barnaby Grist, senior managing director of strategic business development at Charles Schwab Corp.'s investment advisor group, is leaving to join Cetera Financial Group, a new independent brokerage venture controlled by Lightyear Capital LLC.
Now that it has completed its acquisition of J.P. Morgan Securities Inc.'s RIA custody business, RBC Advisor Services is gunning for assets from advisers and breakaway brokers.
The Geller Group LLC, a New York retirement plan administrator and registered investment adviser, has confirmed in internal memoranda that it is being investigated by the Labor Department.
The Labor Department is investigating Geller Group LLC for failing to disclose alleged ties to an accounting firm it recommended as an auditor, according to former employees and others close to the investigation.
The Labor Department is investigating Geller Group LLC, a retirement plan administrator and registered investment adviser, for failing to disclose alleged ties to an accounting firm it recommended as an auditor and for other possible violations, according to former employees and others close to the investigation.
The Charles Schwab Corp. — in a bid to attract more trades from customers who use deep-discount brokerages — plans to lower its commissions on all online stock and non-Schwab ETF transactions to $8.95 per trade.
