An NASD arbitration panel ordered Merrill Lynch to pay a former employee $1.6 million after he was fired because of his ethnicity.
Morgan Stanley’s retail brokerage unit ranked dead last in customer satisfaction for the second year in a row, according to a survey.
The recent fallout in the market for subprime mortgages caused one prominent hedge fund index to revise some of its performance returns last week. Last Monday, the Credit Suisse/Tremont Hedge Fund Index reported that its index for fixed-income arbitrage gained 0.21% in June and 3.7% year-to-date.
Is the creation of a top-level suitability monitoring job by Allianz Life Insurance Company of North America a step forward in annuity marketing or a defensive position in response to a battery of lawsuits?
The Vanguard Group Inc. is pushing advisers out of a popular class of shares, and some financial advisers and industry experts aren’t happy about the move.
NEW YORK — Life isn’t fair. Just ask John Thain. Since becoming chief executive of the New York Stock Exchange in 2004, he has taken the former membership organization public, pushed it into bond and option trading, and merged it with Euronext NV of Amsterdam, Netherlands, Europe’s largest exchange group. Now he is being slammed by shareholders.
With the Dow Jones Industrial Average closing above 14,000 for the first time last week, an increasing number of financial advisers are considering the merits of market timing.
Russell Investment Group has begun to phase out the sale of managed accounts on its own platform.
After building businesses through fee-based brokerage accounts and mutual fund trail fees, many brokers are anxious about looming changes to these sources of revenue.
NEW YORK — Despite continued consolidation, the clearing industry in some ways is becoming more crowded, with increased competition for the clearing business of top independent-contractor broker-dealers.
NEW YORK — An increasing number of independent-contractor broker-dealers are doing business with more than one clearing partner, adding to the stiff competition among some clearing firms.
SAN FRANCISCO — After achieving success in pilot cities, Fidelity Investments is taking its revamped referral program to Los Angeles, Manhattan and the New York suburbs, but with changes.
NEW YORK — Wholesalers seeking an adviser’s good graces should forget the freebies and concentrate on developing solution-oriented consultative relationships.
NEW YORK — Asset managers are raking in plenty of business from baby boomers but are missing the boat when it comes to boomers’ children, according to a recent report from KPMG International.
NEW YORK — Most clients’ collections are a labor of love and not a quest for investment returns, according to financial advisers with collector clients.
NEW YORK — A new tool on the Securities and Exchange Commission’s website that provides investors with a list of companies involved in countries designated as “state sponsors of terrorism” is raising eyebrows among lawyers and politicians.
The Senate opened an investigation into insurers that use suspect tactics when dealing with seniors.
Insurance provider Assurant put its CEO and CFO on administrative leave after regulators notified the two executives that they may face civil charges.
Willis Group Holdings. today agreed to reimburse about $2.6 million to cities and counties throughout Florida.
Only 38% of consumers think the U.S. will be the world economic leader in ten years, but few plan on investing abroad.
