The New-York based investment firm blamed the drop, in large part, to incurring $215 million in losses from investments in hedge funds and real estate products.
According to preliminary data from Hennessee Group LLC in New York, total hedge-fund assets declined by 39% to $1.21 trillion in 2008 — their lowest level since 2006.
TD Ameritrade Holding Corp., the discount brokerage firm that also offers custody services to independent investment advisers, reported fiscal 2009 first-quarter earnings today of $184.4 million, or 31 cents a share, meeting analysts’ forecasts.
The New York-based investment bank, which has now suffered five straight quarterly losses, incurred around $328 million in charges during the quarter, stemming mainly from expensing 2007’s employee stock awards.
New tax laws went into effect Jan. 1, and your clients are wondering how the laws will affect their tax obligations for 2009.
State Street Corp. today reported a 71% profit drop in fourth-quarter earnings, along with increased unrealized losses in its commercial paper program and investment portfolio.
The mysterious disappearance of a Florida hedge fund manager five days ago has prompted the Federal Bureau of Investigation and the Securities and Exchange Commission to join the investigation, published reports said.
Morgan Stanley and Bank of America are upping the ante to create the largest brokerages in the nation, even as individual investors head for the exits.
Start by identifying your top five retirement services. These may include IRAs, Keogh plans, long term care insurance, retirement income reviews, referrals to estate planning attorneys, annuities and others.
The Securities and Exchange Commission’s Office of Economic Analysis has extended the deadline for public companies to participate in a web-based survey about the costs and benefits of Section 404 of the Sarbanes-Oxley Act of 2002.
