Ex-TCW exec Gundlach gets backing from Oaktree
Jeffrey Gundlach, ousted early this month as chief investment officer of TCW, announced today he has established a strategic relationship with Oaktree Capital Management LP in which Oaktree will help his new firm, DoubleLine LLC, establish its own operational infrastructure.
Advisers, clients butt heads over market
Financial advisers are certainly not in agreement with their clients about the state of the markets.
BlackRock revenue takes hit in ETF fee wars
BlackRock Inc. is losing its tight grip on the $927 billion U.S. ETF market — potentially costing the company hundreds of millions of dollars in revenue — and the competition is just starting to heat up
New Jersey broker charged in $8M Ponzi scam
A New Jersey woman was charged today with raising $8 million through a Ponzi scheme that defrauded investors in her purported wholesale merchandise business.
Pension plan tax breaks facing challenge
Corporate pension industry lobbyists are bracing for an attack on the tax breaks for pension plans as the White House and federal lawmakers struggle to slash the federal budget deficit
Bank of America to sell First Republic Bank to private equity investors for more than $1B
Bank of America Corp. said Wednesday it has agreed to sell First Republic Bank, a private bank it inherited from Merrill Lynch & Co., to a group of investors.
Finra bans rep over alleged insurance scam
David Steven Forman, a former rep with The Private Consulting Group Inc., has settled with Finra following allegations…
Insurers are upping VA withdrawal benefits
Generous withdrawal benefits for variable annuities — albeit with limits — continued their comeback in the third quarter, according to a report from Ernst & Young.
LPL Investment raises $470M in IPO
LPL Investment Holdings Inc., the brokerage and investment advisory firm owned by private equity firms TPG Capital and Hellman & Friedman LLC, raised $470 million in its initial public offering.
Goldman Sachs sued for alleged discrimination
The plaintiffs, H. Cristina Chen-Oster, a former vice president, Lisa Parisi, a former managing director, and Shanna Orlich, a former associate, seek class-action status to represent all female Goldman employees with those job titles.
Data theft puts LPL clients at risk
LPL Financial yet again has fallen prey to a technology blunder that placed private client information at risk.
Former fund executives stand to reap big payouts from LPL public offering
Two former chief executives of mutual fund companies that built their businesses on the direct-sold model are in the position to make money as a result of the pending LPL Investment Holdings Inc. initial public offering.
Proxy firms may feel pinch under DOL proposal
Institutional Shareholder Services Inc., the nation's largest proxy advisory firm, could be forced to revise its business plan if the Labor Department adopts a proposal to expand the definition of “fiduciary.”
Retirement agenda set to take a backseat in gridlocked Congress
The split in control of Congress means that legislative gridlock will shift the lead on pension issues to executive-branch agencies over next two years, pension industry lobbyists said.
Guidance expected on Roth rules
Federal regulators soon will issue eagerly sought guidance to aid employers that want to amend their 401(k) plans to allow participants to roll over account balances into a Roth 401(k) plan
Finra critic gets tax law passed
Elton Johnson, owner of Amerivet Securities Inc., has made a name for himself by being a thorn in the side of the Financial Industry Regulatory Authority Inc.
Wilmington Trust is sold for $350M
Wilmington Trust Corp., the Delaware bank founded by the du Pont family and undermined by souring loans, agreed to sell itself to M&T Bank Corp. for $351 million in stock, or about half its market value last week.
Suit seeks $30M in Madoff family money
The court-appointed trustee seeking to recover billions of dollars lost by jailed financier Bernard Madoff sued three entities Thursday to get back more than $30 million that he said the Madoff family had invested, mostly in oil and gas properties and technology companies.
Large-cap profits surging — but analysts afraid to use the ‘B’ word
'Buy' recommendations for stocks at the lowest level since 1997; 'don't want to stick their necks out'
Fund manager Derek van Eck, 46, dies unexpectedly
CIO of Van Eck Associates; father founded company in 1955.
