NEW YORK — Life isn’t fair. Just ask John Thain. Since becoming chief executive of the New York Stock Exchange in 2004, he has taken the former membership organization public, pushed it into bond and option trading, and merged it with Euronext NV of Amsterdam, Netherlands, Europe’s largest exchange group. Now he is being slammed by shareholders.
With the Dow Jones Industrial Average closing above 14,000 for the first time last week, an increasing number of financial advisers are considering the merits of market timing.
The Department of Labor has rejected a proposal by the insurance industry to include stable-value funds as a default option for 401(k) plans, according to industry sources.
After building businesses through fee-based brokerage accounts and mutual fund trail fees, many brokers are anxious about looming changes to these sources of revenue.
Financial advisers who prepare various tax-related documents for their clients will likely think twice before signing off on returns that include dubious or aggressive tax positions.
Russell Investment Group has begun to phase out the sale of managed accounts on its own platform.
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.
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 — Wholesalers seeking an adviser’s good graces should forget the freebies and concentrate on developing solution-oriented consultative relationships.
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.
