Industry News

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NEWS EQUITIES APR 27, 2014
Sell in May and go away?

<i>Breakfast with Benjamin:</i> Time to sell stocks? Plus: All you need to know about the Fed's policy decision today, lessons from a Texas-size bankruptcy, lingering effects of the polar vortex, a social media darling trips up, and the latest on Rep. Dave Camp's tax reform plan.

By Jeff Benjamin
NEWS BROKER DEALERS APR 27, 2014
Schorsch's RCS Capital gets regulatory clearance for Cetera Financial deal

$1.15 billion acquisition, announced in January, expected to close in the next several days.

By Bruce Kelly
NEWS EQUITIES APR 27, 2014
Volatility chiller

<i>Breakfast with Benjamin:</i> Rate clarity from Janet Yellen and the Fed this week could chill volatility. Plus: Someone doesn't like small caps, <i>IN</i>'s big independent broker-dealer report is out, determining what airline to fly, a new cybersecurity warning and two popes are now saints.

By Jeff Benjamin
NEWS RETIREMENT PLANNING APR 27, 2014
Letters to the Editor

By MFXFeeder
NEWS BROKER DEALERS APR 27, 2014
For LPL, recruiting numbers add up

In a good sign for the industry, recruiting came roaring back in the third quarter for LPL Financial, which added 154 net new registered reps and advisers. CEO Mark Casady says recruits came 'from all over.'

By Bruce Kelly
NEWS WIREHOUSES APR 25, 2014
BofA shares drop after stress-test error halts dividend increase

Company will resubmit proposal after finding botched accounting on structured notes issued by Merrill Lynch.

By Gregory Crawford
NEWS RETIREMENT PLANNING APR 25, 2014
How to scale your firm and keep its culture

MediaMath, one of Crain's New York's 50 fastest growing companies, doubled its employees to 350 in a year. CEO Joe Zawadzki offers advice on retaining culture in an environment of rapid growth.

By Elizabeth MacBride
NEWS INDUSTRY NEWS APR 25, 2014
Schwab pays up to settle

In a victory for opponents of mandatory arbitration, Charles Schwab &amp; Co. has agreed to pay $500,000 and remove a controversial provision from customer contracts that would require arbitration of class action claims.

By Gregory Crawford
NEWS RETIREMENT PLANNING APR 25, 2014
How to hire a tech team

As the hiring environment become more competitive for techies, Michael Kirven, CEO of tech staffing firm Mondo, has some tips for making an offer stand out.

By Elizabeth MacBride
NEWS INDUSTRY NEWS APR 25, 2014
How much gold should be in your clients' portfolios?

Study says gold should make up as much as 10% of a well-diversified portfolio

By CODONNELL
NEWS PRACTICE MANAGEMENT APR 25, 2014
Wells Fargo training program violates labor laws: Suit

A former adviser trainee of Wells Fargo Advisors says firm went after her for training costs after she left the firm; she has sued, claiming the firm's practice of recouping training costs is illegal and discriminatory.

By Mason Braswell
NEWS RIAS APR 25, 2014
Creating clear career path critical to attracting NextGen advisers

Fidelity is even broadening its recruiting efforts to high school students

By Trevor Hunnicutt
NEWS WIREHOUSES APR 25, 2014
BofA to pay $160M to settle racial bias case

Suit on behalf of 1,200 black brokers claimed discrimination in business opportunities.

By Trevor Hunnicutt
NEWS WIREHOUSES APR 25, 2014
BofA Merrill agrees to $39M gender discrimination settlement

Lawsuit alleged a &quot;deep rooted and pervasive gender discrimination&quot; existed at Bank of America and Merrill Lynch

By DJAMIESON
NEWS REGULATION AND LEGISLATION APR 24, 2014
Investor, consumer groups call on Finra to release more arbitration data

As task force reviews process, regulator pushed to fess up on selection of arbitrators, award collections and case statistics.

By Mark Schoeff Jr.
NEWS RETIREMENT PLANNING APR 24, 2014
Hamptons home prices soar 52% as Wall Street money floods market

The beach retreat for Manhattan is one of a number of getaway markets that have been benefiting from the wealth effect of rising stocks. Vacation homes made up 13% of all sales last year, the highest level since 2006, the National Association of Realtors reported this month.

By Elizabeth MacBride
NEWS EQUITIES APR 24, 2014
What stocks to buy, if you want to buy stocks

<i>Breakfast with Benjamin:</i> What stocks to buy if you're ready to buy stocks. Plus: A different investor reaction to a Netflix price hike; earnings coming fast and furious; when CEOs stop buying back their stock and don't forget Earth Day.

By Jeff Benjamin
NEWS INDUSTRY NEWS APR 24, 2014
BlackRock expands top ranks in second revamp in two years

In a newly-announced restructuring, BlackRock CEO Laurence Fink is staying put but he has lined up new set of deputies and sets new roles for at least 10 execs.

By Gregory Crawford
NEWS INDUSTRY NEWS APR 24, 2014
Advisers honored for giving back to their communities

Five singled out; $150,000 donated to charities.

By Liz Skinner
NEWS RETIREMENT PLANNING APR 23, 2014
The best- and worst-performing target date funds

By Andrew Leigh