Industry News

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Gold at $2,000? It's getting closer
NEWS RETIREMENT PLANNING JUL 18, 2011
Gold at $2,000? It's getting closer

Precious metal gains from race to debase currencies, now tops $1,800; BofA sees it at $2,000 in a year

By John Goff
Default, dear Brutus, could be bad news for money funds
NEWS RETIREMENT PLANNING JUL 18, 2011
Default, dear Brutus, could be bad news for money funds

Could put a hole in money-market funds, which hold $760 billion in Treasuries. The question is: should investors pull their money out now just in case lawmakers in Washington don't reach a debt-ceiling agreement by Aug. 2?

By John Goff
NEWS RIAS JUL 18, 2011
Will anybody buy E*Trade?

The online brokerage's largest investor wants the company to explore a sale. But given 'catastrophic losses' at the discount outfit, finding potential suitors may be tough.

By John Goff
Cash is the new black
NEWS INDUSTRY NEWS JUL 18, 2011
Cash is the new black

Concerns about European defaults, Chinese inflation, and American politics have big fund managers scrambling to de-risk their portfolios. How conservative are they getting? One of George Soros' funds in now 75% cash.

By John Goff
NEWS RIAS JUL 18, 2011
D.C. war has an unintended consequence

As the Dodd-Frank Wall Street Reform and Consumer Protection Act approaches its one-year anniversary, Washington's highly charged partisan response to the law may give rise to an unintended consequence: a brain drain at our financial regulators.

By MFXFeeder
NEWS RIAS JUL 17, 2011
TD Ameritrade strikes deal with AGs

Cooperating in probe by AGs over possible attempts by retail brokers to thwart new online brokerage

By AOSTERLAND
NEWS RIAS JUL 17, 2011
Penson clearing out of U.S. clearing business

Selling operation to Apex Clearing; currently serves 230 B-Ds

By Bruce Kelly
NEWS INDUSTRY NEWS JUL 15, 2011
Ben Bernanke personal net worth takes a hit

Federal Reserve Chairman Ben S. Bernanke's assets may have declined in 2010 even as the stock market improved.

By Mark Bruno
CFTC to enact Dodd-Frank rule aimed at retail-commodities trading
NEWS REGULATION AND LEGISLATION JUL 15, 2011
CFTC to enact Dodd-Frank rule aimed at retail-commodities trading

A rule aimed at protecting small investors who buy U.S. commodity contracts from retail brokers will go into effect.

By Doug Cubberley
NEWS RIAS JUL 15, 2011
RIAs' revenue, AUM hit all-time highs in 2010

Let the good times roll. After several lousy years, revenues and assets under management for RIAs hit an all-time high in 2010. More of the same to come?

By Lavonne Kuykendall
NEWS INDUSTRY NEWS JUL 15, 2011
After $99B collapse, rally seen for commodities

The commodities rout that knocked off $99 billion of market value two weeks ago is driving out speculators and leading The Goldman Sachs Group Inc., which forecast the plunge, to predict a possible recovery

By Bloomberg
Morgan Keegan may yet fetch $1B: Sources
NEWS INDUSTRY NEWS JUL 14, 2011
Morgan Keegan may yet fetch $1B: Sources

Sweepstakes for brokerage said to be down to two P/E firms; parent Regions reportedly offering to help finance the deal

By John Goff
Boogie down and out after selling private placements
NEWS INDUSTRY NEWS JUL 14, 2011
Boogie down and out after selling private placements

Last dance for Florida firm that hawked Provident Reg D offering; lawyer claims Finra was the bigger problem, however

By Bruce Kelly
What Kelly's exit means for Pershing
NEWS INDUSTRY NEWS JUL 14, 2011
What Kelly's exit means for Pershing

The surprise departure of the CEO of BNY Mellon does not indicate any change of strategy for the custody bank -- or its clearing unit -- said a Pershing insider.

By Dan Jamieson
NEWS INDUSTRY NEWS JUL 14, 2011
Yet another P-E firm buys an indie B-D

The latest: First Allied purchased by Lovell Minnick Partners and brokerage's management team

By Bruce Kelly
George Soros ditches hedge fund empire for — a family office?
NEWS RETIREMENT PLANNING JUL 14, 2011
George Soros ditches hedge fund empire for — a family office?

Legendary investor George Soros is trading in his hedge fund firm for -- a family office. Of course, this family office boasts $24 billion in assets under management.

By John Goff
Guggenheim big resigns amid merger rumors
NEWS RIAS JUL 14, 2011
Guggenheim big resigns amid merger rumors

Baffico exits: sources claim that fund firm will meld Claymore, Rydex

By Jessica Toonkel
Troubles aplenty, but Bank of America still largest wealth manager
NEWS RIAS JUL 14, 2011
Troubles aplenty, but Bank of America still largest wealth manager

Now sitting on nearly $2 trillion in assets; it was a very good year for BNP Paribas

By John Goff
NEWS INDUSTRY NEWS JUL 14, 2011
Seeking alternatives? Sign up for IN's 2011 Alternative Investments Conference

By John Goff
No asset class immune to June swoon
NEWS FIXED INCOME JUL 14, 2011
No asset class immune to June swoon

Investors were more like bridesmaids than brides in June. Stocks, bonds and commodities all fell, marking the first monthly decline for all three since 2009.

By John Goff