After months of pursuit, Donald Marron finally has landed a broker-dealer network, and the former chairman and chief executive of PaineWebber Group Inc. can't think more highly of its potential.
Upset by what they see as government bailouts of banks that still aren't lending money, several small broker-dealers are floating the idea of getting government money to smaller firms.
The financial advisory industry and its clients still may be struggling with the aftermath of the market crash — but investor plaintiff's attorneys are doing just fine, thank you.
The lousy economy hasn't been bad for everyone.
Several financial advisers said that they agree with the Supreme Court justices who appeared to suggest during oral arguments last week that the Securities and Exchange Commission, and not the courts, should ultimately decide when mutual fund fees are excessive.
The Federal Reserve Board has named Patrick M. Parkinson, 57, director of the Division of Banking Supervision and Regulation.
After a series of ratings downgrades this year halted sales of its life insurance and annuity products by major outside distributors, The Phoenix Cos. Inc. has created a distribution company of its own, Saybrus Partners Inc., and has struck a consulting agreement with Edward D. Jones & Co. LP.
State Street Corp. said Tuesday that it will buy the securities services business of Italian banking group Intesa Sanpaolo for about $1.87 billion in cash.
An arbitration panel has awarded a former broker at Allegiant Securities LLC $100,000 in a case that arbitrators said involved a forged letter purporting to be from the Financial Industry Regulatory Authority Inc.
Investors added to the week's strong gains in the stock market after finding some positives in a surprisingly weak jobs report.
Two former Bear Stearns hedge fund managers charged with lying to investors always were honest about the risks of investing in securities linked to the volatile subprime mortgage market, a defense lawyer told a jury on Friday.
President Barack Obama signed a $24 billion economic stimulus bill into law Friday, giving tax incentives to prospective homebuyers and additional jobless benefits to those idled by the business slump.
CashEdge Inc. is now making its AllData Advisor account aggregation service available to financial advisers via a self-service online subscription.
Alternative asset manager Fortress Investment Group LLC said Friday its third-quarter loss deepened as it cut expenses and recorded a big gain on affiliate investments.
Hedge fund and private equity firm The Blackstone Group LP on Friday posted a narrower loss for the third quarter, as its private equity holdings gained value and its real estate investments stabilized.
President Barack Obama says new figures showing national unemployment has hit the double-digit mark are regretful and says he's working hard to restore the struggling economy.
Stocks rose early Friday as investors shrugged off news that more jobs were lost in October than expected, pushing the unemployment rate above 10 percent for the first time since 1983.
Oil prices lost over $2 to stumble below $78 a barrel Friday as rising U.S. unemployment figures renewed concerns about the economic recovery and consumer demand.
AIG said Friday it was profitable for the second straight quarter as its core insurance operations continue to stabilize after the company's bailout by the government last year.
