The Securities and Exchange Commission staff member who coordinated its study of a universal fiduciary duty for retail investment advice said last Monday that a follow-up regulation won't come until later in the year
After the financial markets see-sawed through several distinct phases for much of 2010, investors gradually regained confidence late in the year and stocks rallied as mixed economic indicators became more positive.
The firm is seeking $344K from the ex-broker - and current Hamilton County, Ohio trustee - for alleged 'unauthorized withdrawals' from a client's account.
Powerhouses of the RIA industry - Jeffrey McCallum, David Barton, Ric Edelman and Tom Muldowney (clockwise)- tackle the industry's biggest issues.
Almost half of over 1,000 adults who said they have a financial plan said theirs hasn't moved beyond the idea stage, 42% have committed their plan to paper and just 11% have basic notes or ideas, such as thoughts scribbled on the back of a cocktail napkin, a recent survey has found.
Sees large-cap index topping 2,100 at peak of current bull market
Three years after Bank of America rescued Merrill Lynch, BofA has hit a serious rough patch. Concerns about the bank's mortgage portfolio have welled up again. This week, those concerns drove the bank's stock price below $11. In 2006, it was at $55. The question: what do Merrill brokers make of all this?
'I've never been more optimistic on the long-term prospects of the U.S. dollar and U.S. economy,' says fund manager
Units of Bank of America and Morgan Stanley agreed to settle charges that they illegally foreclosed on U.S. service members. The Justice Department claimed that, in some cases, severely injured soldiers have had their houses seized.
Ultimately, the government's attempt to balance the budget will slam the under-55 set, says one tax expert. Uncle Sam's plan, says Andrew Friedman, will include an end to FICA caps -- and the debut of means testing when the group becomes eligible for Social Security.
Foreign direct investment in the U.S. increased by 49% in 2010, rebounding from 2009 levels during the height of the credit crunch.
Alan Greenspan, former Federal Reserve chairman, said a default by Greece is “almost certain” and could help drive the U.S. economy into recession.
Sputtering economy to get back on track in the third quarter; slide in fuel costs big boost
Officially, the inflation rate may be negligible, but senior citizens have seen their purchasing power erode by 32% since 2000, according to The Senior Citizens League, a nonpartisan group that lobbies for seniors' rights to benefits
Newbridge Securities to pay $850,000 as part of class action settlement
Worries about Greece and China abating, as large caps see big advance
A majority of surveyed global wealth-management execs said their clients aren't satisfied these days. Indeed, one industry adviser says many clients 'expect a lot more and tolerate a lot less.'
Investors prefer to get their retirement income plans in writing, but advisers tend to back away from giving clients a detailed blueprint, a Fidelity Investments survey has found.
Blame 'pace of society' for inability to reach retirement goals; meanwhile, holiday spending on the rise
