The recent fantastic growth among independent broker-dealers came skidding to a halt last year, but the results were far from disastrous for many firms.
Advisers need to work harder to include their clients’ heirs in estate plans because 92% of heirs change advisers once they receive an inheritance, according to one industry leader.
Federated Investors Inc. today reported net income of $35.1 million, or $0.34 per share, for the first quarter, compared with a net income of $55.8 million, or $0.54, for the comparable quarter last year, representing a 35% decline.
A recent decision by a three-judge panel of the federal appeals court in Boston “dramatically expands securities fraud liability” and should be reversed, the U.S. Chamber of Commerce said in an amicus brief filed April 22.
The Securities and Exchange Commission plans to eliminate an New York Stock Exchange rule that allows brokerage firms to vote the proxies of their investor clients, The Wall Street Journal reported today.
The Securities and Exchange Commission today charged William L. Gunlicks and his firm, Founding Partners Capital Management Co. of Naples, Fla., with misrepresenting the investments the firm made through a series of partnerships that buy hospital receivables.
House Republicans on Wednesday introduced legislation that would lift the ceiling on retirement savings account contributions.
Swiss banking giant Credit Suisse on Thursday reported a first-quarter net profit of 2 billion Swiss francs ($1.72 billion), following a turnaround in its investment bank, which had previously been hit hard by the credit crunch.
The International Monetary Fund projected the 1.3 percent drop in a dour forecast released Wednesday. That could leave at least 10 million more people around the world jobless, some private economists said.
