Lazard Ltd. Today posted a 4.9% increase in first quarter revenues on growing asset management fee income and record inflows, but fell short of analysts expectations.
NASD announced today that it has fined two Fidelity Investments broker-dealers $400,000 for preparing and distributing misleading sales literature promoting plans that were sold primarily to U.S. military personnel.
Citigroup Inc. has agreed to pay $200,000 to settle charges with the Securities and Exchange Commission regarding one of its brokerage units that manipulated auctions involving municipal and corporate bonds.
JPMorgan Chase & Co. has agreed to stop making payments to more than 100 college alumni associations that allowed the company to market its consolidation loans directly to graduates, according to the Wall Street Journal.
Advisers need to be educated about college savings plans in order to better serve ther clients. That was one of the messages delievered at a confernce on colleges savings this morning sponsered by AllianceBernstein Investments.
The National Association of Securities Dealers and state regulators in North Dakota, Iowa and Minnesota signed a joint statement supporting a new rule to require that insurance companies and agencies recommend only suitable annuity products to their customers.
Citigroup Inc. today announced that it will spend $50 billion over the 10 years to address global climate change, the largest such move ever by Wall Street firm.
Liberty Mutual Group in Boston today announced that it will acquire all outstanding shares of common stock of Ohio Casualty Corp. of Fairfield, Ohio for $2.7 billion in cash, or $44 per share.
INVEST Financial Corp. of Tampa, Fla., this morning said it has acquired the contracts of nearly 400 bank-based registered representatives of PFIC Securities Corp. of Franklin, Tenn., a subsidiary of Morgan Keegan & Co. Inc. of Memphis.
MetLife Inc., the largest U.S. life insurer by assets, is reaping the benefits from its growing international business.
Thomas James clearly is displeased with the growth at Raymond James Financial Services Inc.
New accusations against equity index annuity sellers may lead to regulatory grief comparable to what property-casualty firms suffered during the contingent- commission scandal a couple of years ago, industry observers say.
Many top executives at large financial services companies saw a big jump in pay last year.
The rapid rise of equity markets over the past few months has introduced a new challenge to some financial advisers: keeping clients focused on long-term objectives.
NEW YORK — Looking to de-fuse a potential time bomb for independent-contractor broker-dealers, the Financial Services Institute Inc. wants the Securities and Exchange Commission to change its privacy rule.
WASHINGTON — The battle to help investors globalize their portfolios has received two more weapons.
NEW YORK — Paying attention to such details as retirement plan fees and documentation is a tough sell — especially when small- business owners have businesses to run.
OTTAWA — Combating the concentration of financial muscle among Canada’s Big Six banks, the nation’s financial advisers are showing modest success in their competitive solution — the creation of their own banks.
