Regional and independent brokers such as LPL Financial, D.A. Davidson & Co., Raymond James Financial Inc. and Stifel Financial Corp. are thriving while brawnier brokers struggle, but the firms' executives have deep concerns even as they rev up their recruiting.
Recent market volatility is forcing mutual fund managers to pay more attention to how much risk they are taking in their portfolios and to focus more on balance sheets.
Confidence among U.S. consumers declined sharply in October as Americans continued to grow more pessimistic about the prospects for the economy.
The Depository Trust and Clearing Corp. today announced that starting Tuesday, it will publish weekly aggregate market data from the Trade Information Warehouse it maintains on credit derivatives.
The Chicago-based firm’s third-quarter net income was up 12% to $22.2 million, or 45 cents per share, compared with $19.9 million, or 41 cents per share, in the year-ago period.
The world’s second-largest insurance broker, Aon Corp., saw its net income decrease 43% to $117 million, or $0.40 per share, in the third quarter, compared with $204 million, or $0.64 per share, in the year-earlier period.
The Minnetonka, Minn.-based fund’s chief executive, Colin Smith, said in a letter to investors that the current pace of redemption requests could hurt “both continuing and later redeeming investors."
Consumer spending declined 0.3% in September in yet another sign that the economic slump is battering consumers, according to the Department of Commerce.
The Reserve Management Co. Inc. of New York today completed the first wave of distributions to shareholders from the liquidation of the Primary Fund.
The stock price of The Hartford (Conn.) Financial Services Group Inc. dipped by more than half yesterday, following the company’s release of dismal third-quarter results.
