The United States has lost its place as the world's most competitive economy, according to a survey released today, falling behind Switzerland mainly because of the financial crisis and accumulated fiscal deficits.
Another team of Morgan Stanley Smith Barney brokers in California, who say they've recently managed about $500 million, has left to set up its own RIA.
Most financial commentators approved when President Obama two weeks ago reappointed Ben Bernanke as Federal Reserve Board chairman. However, in most of the commentaries, the approval was based on the belief that it would be unwise for the president to introduce more uncertainty into the financial markets at this critical period in the recovery.
Finra is continuing to reach out to the spouses of military personnel to give them the training to help others deal with financial difficulties.
The Financial Industry Regulatory Authority Inc. last week barred two brokers in separate actions, charging that they ran Ponzi schemes that victimized dozens of investors, including the elderly or mentally and physically disabled.
Elmo's world is getting a little bigger.
A bill that would continue to allow investors in Section 529 college savings plans to make two changes each year to their investment allocations appears unlikely to be passed by the House anytime soon, according to industry and Washington insiders.
The Dana-Farber Cancer Institute of Boston and the Massachusetts chapter of the Financial Planning Association are set to ramp up their groundbreaking free financial-planning coaching service for cancer patients this fall.
So much rides on the meaning of “fiduciary,” a word alien to the vast population and, at least until recently, to a good part of the financial world.
An Alabama bank is suing University of Michigan football coach Rich Rodriguez for defaulting on a real estate loan — but his adviser claims that the coach was the victim of a Ponzi scheme.
Securities and Exchange Commission Chairman Mary L. Schapiro last week issued an open letter to broker-dealer chief executives, warning them to make sure supervisors are vigilant about conflicts of interests as they recruit registered representatives.
As the Section 529 college savings plan industry this month enters its most important marketing period, it has turned a blind eye to the unsettling events of the past 12 months.
As wildfires blazed through Angeles National Forest last week, advisers who had weathered other such natural disasters kept their data safe and found ways to connect with their clients.
H&R Block Inc. said today it lost a larger-than-expected $133.6 million in the first quarter, about the same as a year ago, as acquisition expenses and other costs offset slightly higher revenues.
Central United Life Insurance Co. has come out swinging against a lawsuit filed by the Missouri Department of Insurance, which accused the carrier of improperly paying claims to cancer patients.
The unemployment rate rose to 9.7 percent in August, the highest since June 1983, as employers eliminated a net total of 216,000 jobs.
President Barack Obama's plan to recast how the government regulates Wall Street could be thrown a curve this fall if Sen. Tim Johnson, a Democrat whose home state is a major hub for credit card companies, takes over the chairmanship of the Senate's banking committee.
A South Shore, Ky.-based insurance agent this week was sentenced to five years in prison and ordered to pay almost $400,000 in fines for swindling clients in a Ponzi scheme that involved annuities.
New jobless claims fell slightly last week while the number of people receiving unemployment benefits rose, a sign the job market's recovery will be long and bumpy.
