In what looks like the end of a long-simmering dispute, Finra orders two members of a team terminated by Merrill Lynch to pay the brokerage $3.5 million
A prominent wirehouse rep and his Hawaii-based team — <a href= http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20090929/FREE/909299980&ht=choy>who rather suddenly left</a> Merrill Lynch & Co. Inc. in September — have formed a new advisory firm.
The majority of investors who work with advisers are not aware that income limits associated with the conversion of a traditional IRA to a Roth IRA will be lifted in January, according to a survey conducted by Fidelity Investments.
Four senior citizens in Florida who were scammed into purchasing “inappropriate” equity indexed deferred annuities have had a combined $1.2 million returned to them by the state's chief financial officer, Alex Sink, according a statement from Florida's Department of Financial Services.
Back in May, we introduced you to <a href="//www.investmentnews.com/apps/pbcs.dll/article?AID=/20090501/REG/905019982&ht=SimpliFi"" target="”_blank”" rel="noopener noreferrer">Sophie</a>, SimpliFi's free virtual financial planner. Well, Sophie's grown up since then. As of today, she's gotten a lot more sophisticated, at least for the customers of financial institutions such as credit unions and banks that provide SimpliFi LLC's Planning Service Plus to their customers.
Energy continues to be the theme for Jerry Jordan, manager of the $110 million Jordan Opportunity Fund <a href=http://www.investmentnews.com/apps/pbcs.dll/section?q=jordx&INDA=1&crit=&SearchCategory=CHART%3BREG%3BFREE%3BSUB&SearchProfile=1119&symbol=&targetURL=http%3A%2F%2Fwww.investmentnews.com%2Fapps%2Fpbcs.dll%2Fsection%3Fcategory%3Dstocklookup&category=ETFLOOKUP&searchType=etf>(JORDX)</a>.
Investors are just not sure where the economy is headed. And so the stock market may be in limbo for a while.
Broker-dealers and registered reps should not bear the burden of increased fees from Finra after the regulator's “failure to properly prepare for the inevitable market downturn,” according to a notice sent to broker-dealers last week from the Financial Services Institute.
The insurance industry predicts a new boom in variable annuities as tax deferral takes the spotlight in the near future, but financial advisers and broker-dealers aren't convinced that this will help products fly off the shelves again.
Another key executive with the ING Advisors Network Inc. has stepped down, as the network's parent, ING Groep NV, continues an evaluation of the broker-dealers that could lead to their sale.
The Insured Retirement Institute last week chose James A. Shepherdson, executive vice president of Axa Equitable, as the group's chairman.
Buddy Rogers, who officially tossed his hat into the ring last week for a U.S. Senate seat in Arkansas, thinks that there is one important constituency that need a stronger voice in Congress right now: the financial advisory community.
I recently cleaned out some old files in my home office and pulled out some account statements from 2000.
Registered investment advisers last year reduced their asset management fees to the lowest level in 10 years, according to Rydex/SGI's annual Advisor Benchmarking Study.
Although a House Financial Services subcommittee plans to discuss adviser issues at a hearing on Oct. 6, it's unlikely Congress will debate the fine points of adopting a fiduciary standard for all financial advisers.
Fidelity Investments said this morning it is expanding its clearing business into Canada, with the intention of serving U.S. broker-dealers looking for a toehold in the market, while also targeting Canadian broker-dealers.
The United States faces greater systemic risk today than it did a year ago, according to economist Joseph Stiglitz, a Nobel laureate and professor at Columbia University's graduate business school.
National ratings agencies received criticism yesterday at a meeting of the insurance industry for their failure to properly rate residential mortgage-backed securities prior to the crisis.
