Attempts to avoid the largest municipal-bond default in U.S. history were dealt a blow this month when two Wall Street banks ended swap agreements with Jefferson County, Ala.
Oppenheimer Holdings Inc. is interested in picking up some of the brokers and advisers from the distressed Stanford Group Co., the Houston-based broker-dealer arm of the disgraced companies controlled by financial R. Allen Stanford.
Suspending mark-to-market accounting would improve the credit system, Robert Reynolds, chief executive of Putnam Investments, said today.
Mutual funds attracted net inflows of $44 billion during January and February, according to a report from Strategic Insight Mutual Fund Research and Consulting.
The Charles Schwab Corp., under fire from some investment advisers for abruptly ending custody of most alternative assets, said it is modifying the policy but not abandoning it.
Stocks declined in early trading Thursday after mixed economic data and a cut in General Electric Co.'s credit rating.
Shareholder resolutions calling for the adoption of a “genocide-free” investing policy might be withdrawn before Vanguard’s July 2 shareholders’ meeting because the firm has established a formal policy.
Advisers are agitated by the SEC’s decision to expand its examinations of advisory firms to include contact with clients.
Bernard Madoff pleaded guilty Thursday to an epic fraud that robbed investors worldwide of billions of dollars, avoiding eye contact with swindled investors before he was led out of court with his hands cuffed behind his back.
McLean Wealth Advisors announced today the launch of a fee-based platform for its investment advisory services business.
