Investors filed a class action yesterday against Securities America Inc. — a subsidiary of Ameriprise Financial Inc — and CapWest Securities Inc., alleging that the two firms falsely represented private placement investments and used incoming assets to pay dividends to investors in older investments.
News that two firms have been charged with fraud related to large private-securities deals could lead to a serious headache for many midsize to large independent broker-dealers whose financial advisers sold the products to wealthy investors.
Artisan Partners LP's hiring of C.J. Daley as chief financial officer may mean that the company is getting serious about IPO plans.
State securities regulators today announced a new reporting service that allows investors to check on the disciplinary records of their investment advisers online.
Congressional committee approval late last week of an amendment to the financial-reform bill maintaining state regulation of equity-indexed annuities drew mixed reaction, with insurers cheering the action and advisers largely opposing it.
The debt crisis spreading across parts of Europe is seen as the biggest threat to the performance of the U.S. stock market over the next 12 months, according to a survey of professional money managers.
Okoboji Financial Services Inc. filed forms with both the SEC and Finra to withdraw as a broker-dealer.<br><b>INsider:</b> <a href=http://www.investmentnews.com/article/20100530/REG/305309970>Why are so many broker-dealers disappearing?</a>
Another independent broker-dealer is shutting down — this time, so its parent company can refocus on its insurance business.
AFA, which shut its doors today, is the second independent brokerage to go under in two months. And there may be plenty more to follow
Defined contribution plans are adding self-directed brokerage accounts as a way of giving participants more choices even as some plans reduce the number of core investment options.
Continuing to raise capital, National Holdings Corp. is selling part of one of its broker-dealers to a Native American tribe interested in buying stakes in the securities business.
European pension funds and their equity managers are ratcheting up exposure to the U.S.
They're in their prime earning years, often saving for their kids' college education at the same time they're forced to support an aging parent (while, of course, trying to save for their own retirements, too.) In this exclusive <i>Lifestages</i> special report, <i>InvestmentNews</i> focuses on the middle years: 40 to 60.
THE SUN IS SETTING on the golden age of retirement. In Europe, where generous retirement benefits have been a bulwark of the postwar social compact, the realities of increased longevity and a bigger population
Nationwide Financial Services Inc. last week bumped up its variable annuity living benefits, signaling a return — for some carriers — to the generous benefits that backfired on insurers when the stock market imploded in 2008.
Now that it has completed its acquisition of J.P. Morgan Securities Inc.'s RIA custody business, RBC Advisor Services is gunning for assets from advisers and breakaway brokers.
There is a downside to a Roth IRA conversion. Whether clients pay tax for 2010 or spread the tax burden between 2011 and 2012, they'll still owe income tax on the pretax money they move from a traditional individual retirement account or company plan to a Roth IRA.
An insurance group lauds a proposal requiring the SEC to merely examine a single standard of care. And what will come of the study? Not much, says a consumer advocate.
Market volatility remained high last week, with stocks sinking early before rebounding on Thursday.
BP Plc was sued by an ex-employee over losses to the company's retirement plan caused by the Gulf of Mexico oil rig explosion and subsequent spill.
