PHILADELPHIA — Morningstar Inc., the mutual fund research company, is backing off its long-held position that fund boards that oversee multiple funds are less effective stewards than those responsible for just a few funds.
WASHINGTON — Washington early this month became the third state to move toward regulating adviser designations when it issued two concept releases asking for public comments on the issue.
SAN FRANCISCO — After achieving success in pilot cities, Fidelity Investments is taking its revamped referral program to Los Angeles, Manhattan and the New York suburbs, but with changes.
NEW YORK — An increasing number of independent-contractor broker-dealers are doing business with more than one clearing partner, adding to the stiff competition among some clearing firms.
NEW YORK — Most clients’ collections are a labor of love and not a quest for investment returns, according to financial advisers with collector clients.
NEW YORK — Wholesalers seeking an adviser’s good graces should forget the freebies and concentrate on developing solution-oriented consultative relationships.
CHICAGO — While the Department of Labor has yet to issue final regulations on default options for 401(k) plans, many companies are jumping ahead and incorporating a qualified default investment alternative into their retirement plans.
NEW YORK — A new tool on the Securities and Exchange Commission’s website that provides investors with a list of companies involved in countries designated as “state sponsors of terrorism” is raising eyebrows among lawyers and politicians.
NEW YORK — Despite continued consolidation, the clearing industry in some ways is becoming more crowded, with increased competition for the clearing business of top independent-contractor broker-dealers.
