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RIA NEWS MAR 12, 2009
Oppenheimer recruiting brokers, advisers from Stanford Group

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.

RIA NEWS MAR 12, 2009
McLean Wealth Advisors unveils fee-based platform

McLean Wealth Advisors announced today the launch of a fee-based platform for its investment advisory services business.

LIFE INSURANCE AND ANNUITIES MAR 12, 2009
LIMRA: LTC insurance sales tumble

A fourth-quarter tumble in long term care insurance sales brought down full- year 2008 results for the product, according to data from LIMRA International Inc.

REGULATION, LEGAL & COMPLIANCE MAR 12, 2009
RIAs angry over SEC move to contact clients directly

Advisers are agitated by the SEC’s decision to expand its examinations of advisory firms to include contact with clients.

REGULATION, LEGAL & COMPLIANCE MAR 12, 2009
Madoff pleads guilty to huge financial swindle

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.

RIA NEWS MAR 12, 2009
Vanguard establishes human-rights investment policy

Shareholder resolutions calling for the adoption of a “genocide-free” investing policy might be withdrawn before Vanguard’s July 2 shareholders’ meeting because the firm has established a formal policy.

MUTUAL FUNDS MAR 12, 2009
Mutual funds have net inflows of $44B in past two months

Mutual funds attracted net inflows of $44 billion during January and February, according to a report from Strategic Insight Mutual Fund Research and Consulting.

PRACTICE MANAGEMENT MAR 12, 2009
Fidelity to help advisers train employees

Fidelity Investments today unveiled a program to help registered investments advisers hire, develop and retain employees.

ALTERNATIVES MAR 12, 2009
Schwab back pedals on alternatives ban

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.

RIA NEWS MAR 12, 2009
Stocks slip after economic data, GE rating cut

Stocks declined in early trading Thursday after mixed economic data and a cut in General Electric Co.'s credit rating.