Displaying 28161 results
‘Probe and disturb’ viewed as key to one firm’s tactics
Nobody ever accused companies that push annuities on older Americans of being subtle.
IBM advice offering to 401(k) participants signals trend
NEW YORK — IBM Corp.’s announcement that it will offer financial planning services to all 127,000 of its U.S. employees is the biggest sign yet that companies are increasingly interested in providing workers with more individual — and effective — counseling on financial topics.
Merrill bars non-clients from research
Merrill Lynch & Co. analysts are mad as hell that people are simultaneously belittling and stealing their investment ideas, according to Crain's New York Business.
OptionsXpress reshuffles execs
OptionsXpress Holdings Inc. announced today that it promoted its chief financial officer to the role of president and its chief operating officer to the role of executive vice-chairman, according to published reports.
Morgan Stanley profits soar 69%
Morgan Stanley today posted a 69% increase in first-quarter profits on strong advisory fees from higher trading levels and increased investment banking fees.
Wachovia launches 4front client loyalty program
IRVINE, Calif. — In an expected move, Wachovia Securities LLC this month launched a client loyalty program called 4front.
Merrill seeks to expand in India
Merrill Lynch & Co. Inc. is planning to increase the scope of its Indian private banking business, with a focus on providing financial services to that country’s growing wealthy population, according to the Economic Times in India.
Indies are too tempting to be ignored
Intrigued wirehouse executives who are looking for a change are beginning to check out independent-contractor broker-dealers, and what they see interests them more and more, industry executives, consultants and recruiters say.
Royal indulges its appetite for acquisitions
Continuing its focus on buying small to midsize firms, Royal Alliance Associates Inc. late last month completed a deal to acquire United Securities Alliance Inc.
Quotas tied to benefits irk advisers
Some insurers are taking away their advisers’ group health insurance and other employment benefits if proprietary-product quotas aren’t met, advisers say.
Financial planning shows explosive international growth
The growth of the financial planning profession overseas is in the fast lane, though there are some speed bumps, observers say.
Boomer assets draw Old Mutual to VA market
A life insurer known mainly for its fixed annuities has thrown its hat into the variable annuity ring.
LPL deal raises questions
LPL Financial Services Inc.’s plan to acquire three broker-dealers owned by Pacific Life Insurance Co. came as little surprise to many in the industry, though the deal has raised a few key questions, industry observers and advisers say.
FSI hopes to state case to SEC consultants
The Financial Services Institute Inc. hopes to bend the ear of the consulting firm chosen by the Securities and Exchange Commission to consider the effect on investors of applying differing regulatory standards to broker-dealers and investment advisers.
Schwab, Cambridge blend efforts
After 15 years of serving their common clientele separately, Schwab Institutional and Cambridge Investment Research Inc. are showing those dually registered advisers a united front in recruitment, service and reporting.
Wirehouse accounts don’t match client goals
In a huge survey of its clientele, Schwab Institutional documented what financial advisers have been screaming about for years.
Commonwealth plans to open its payout purse
NEW YORK — Commonwealth Financial Network of Waltham, Mass., said it is giving pay raises to 400 of its advisers effective April 1, increasing the payout for advisers once they reach $25 million in assets on the firm’s proprietary managed money system.
SEC releases order routing report
Payment for order flow and internalization of retail options orders to affiliated dealers by brokerage firms has become more pervasive, the Securities and Exchange Commission found in a study
Hancock tops in individual-life sales
John Hancock led the industry with $735 million in individual life insurance sales last year, according to a recent survey of 78 major life insurers by LIMRA International Inc.
Insurers said to steer reps to in-house wares
Many insurers are providing incentives to their advisers to sell proprietary products, despite claiming to have “open architecture” platforms, according to industry observers.
