Bracing for change, registered representatives at A.G. Edwards & Sons Inc. last week met the news that they are being acquired by Wachovia Corp. with a range of opinions.
Faced with intense competition for financial advisers and growing transition costs, an increasing number of independent-contractor broker-dealers over the past year have boosted the amount of money they give to representatives and advisers to switch firms.
NEW YORK — The Certified Financial Planner Board of Standards Inc. has adopted a revised version of its standards of professional conduct, placing a greater emphasis on the importance of fiduciary responsibility.
WASHINGTON — The Investment Company Institute last week fought back against the life insurance industry’s attempt to get stable-value funds included as 401(k) default investment options.
The son of former National Enquirer owner Generoso Pope Jr. is fighting his mother in a battle that has all of the makings of a story that the elder Mr. Pope might have splashed over the cover of his lurid supermarket tabloid.
Edward C. “Ned” Johnson III has given the adviser services business at Fidelity Investments approval to loosen temporarily constraints on its profit margins in a bid to gain market share among advisers.
The recent setting aside of the broker-dealer exemption rule could make the brokerage community one of the hottest markets for exchange traded funds — a dramatic reversal from the way ETFs were viewed by brokers just a few years ago.
OTTAWA — A funny thing happened on the way to a “hollowed out” corporate Canada. Instead of foreigners’ taking over Canadian companies and moving top jobs and decision making offshore (InvestmentNews, March 26), Canadian companies are acquiring foreign companies in record numbers.
NEW YORK — Although institutional investors have hopped on the socially conscious investing bandwagon, individual investors may be wondering whether it really pays to allow their conscience to dictate their investment strategies.
SAN FRANCISCO — With its planned $225 million cash purchase of Fiserv Inc.’s custody business, announced May 24, TD Ameritrade is trying to do more than solidify its hold on the No. 3 position among RIA asset custodians.
