Regulators are backing off their aggressive pursuit of B share cases. In the clearest indication yet that enforcers have changed their tune, the SEC late last month dropped a prominent B share case against former Prudential Securities Inc. broker Robert Ostrowski.
In an effort to prevent top brokers from bolting, wirehouses quietly are backing down from their tough stance against allowing advisers to act as fiduciaries to employee retirement plans.
WASHINGTON — Be careful what you wish for with regard to cost basis reporting, as it might cause a headache of colossal proportions.
SAN FRANCISCO — The biggest software company in the world may be forcing financial advisers to purchase expensive hardware in the wake of its recent upgrade.
WASHINGTON — As Americans feel more stressed out over the erosion of corporate benefits and the solvency of social benefits programs, such traditional economic indicators as gross domestic product growth and household income are becoming less correlated to their perception of the economy’s well-being, according to a recently released study.
Merrill Lynch & Co. Inc. continues to lead the wirehouse race for net new client assets.
When it comes to Putnam Investments, it is the performance — not the parent — that matters, financial advisers say.
A California court ruling late last month may make it easier for states to sue financial firms, according to legal experts.
Focus Financial Partners LLC, barely a year old, purchased majority stakes in three more independent fiduciary wealth management firms last week — increasing its roster of firms to nine and tripling assets under management to $15 billion.
A congressman who raised eyebrows last month when he seemed to imply that annuities are the answer to the need for lifetime retirement income claims he was misunderstood.
