Funds of hedge funds, after enjoying steady growth since the beginning of the decade, are now seen by some in the industry as victims of their own success.
After losing costly battles with three former brokers last month, Banc of America Investment Services Inc. is now on the hook for $1.63 million.
Although brokers have welcomed the billions in auction rate securities buybacks announced by the big Wall Street firms in the past two weeks, they are still angry that it took six months for their companies to begin dealing with the fiasco.
Scott Barkow, an adviser with Raymond James & Associates Inc. of St. Petersburg, Fla., isn't happy about the challenging economy and how it could hurt new business.
New York Attorney General Andrew Cuomo’s probe into the industry's selling of auction rate securities has widened.
Products that combine equity exposure, income generation and volatility protection may grow more popular among advisers, according to a retirement product executive.
Younger workers are saving for retirement but fear that they aren't saving enough and that benefits such as Social Security will be cut before they are ready to retire, according to a new study.
The redemptions were triggered by an 8% drop in U.S. stock indexes in June, followed by further deterioration in July.
U.S. industrial production increased 0.2% in July following a 0.4% jump in June, according to the Fed.
New York Attorney General Andrew Cuomo will investigate Merrill's connection with the freezing of the ARS market.
