The broker attrition at Morgan Stanley Smith Barney LLC is slowing down, according to Charles Johnston, its president and chief operating officer.
Rather than focusing on past deficiencies in target date funds, the Senate Special Committee on Aging's recent hearing on the funds focused on how they can be turned around quickly.
Having expertise with retirement income products and issues is paying off for many advisers, according to a study published today by the Financial Planning Association.
In the wake of the alleged insider-trading ring involving hedge fund manager Galleon Group, compliance departments at asset management firms and broker-dealers are stepping up their vigilance.
With modifications to the systems at the Depository Trust and Clearing Corp., reporting of cost basis information is likely to become less of an issue with financial advisers — assuaging concerns that new requirements could make reporting more costly and cumbersome.
The brokerage industry will put up a fight to stop <a href=http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20091101/REG/311019957>a potential power shift</a> that could give the Financial Industry Regulatory Authority Inc. oversight of much of the investment advisory industry.
With Congress advancing its controversial 1,900-page health care reform legislation, Wall Street has pushed health care sector stocks into value territory, according to Tyler Dann, co-manager of the $4.8 billion Aim Charter Fund <a href=http://www.investmentnews.com/apps/pbcs.dll/section?q=chtrx&INDA=1&crit=&SearchCategory=CHART%3BREG%3BFREE%3BSUB&SearchProfile=1119&x=47&y=9&symbol=&targetURL=http%3A%2F%2Fwww.investmentnews.com%2Fapps%2Fpbcs.dll%2Fsection%3Fcategory%3Dstocklookup&category=ETFLOOKUP&searchType=etf>CHTRX</a>.
Providers of 401(k) plans have lambasted a critical article published Oct. 9 in Time magazine denouncing the 401(k) system.
Broker-dealers, mutual fund companies and fund custodians are updating systems to comply with the cost basis reporting requirements included in the Emergency Economic Stabilization Act of 2008.
The number of defendants agreeing to settlements with the Securities and Exchange Commission dropped for the second straight time in fiscal 2009, declining nearly 8% to 626 defendants from 673 in fiscal 2008, according to a report released today by NERA Economic Consulting.
The House Financial Services Committee last Wednesday unanimously approved a bill that would create a federal insurance office within the Treasury Department.
Federal agents are seizing assets from a Florida lawyer suspected of orchestrating a multimillion-dollar fraud scheme.
Investment adviser Value Line Inc., its CEO and its former compliance chief have agreed to pay about $45 million to settle regulators' allegations the firm charged more than $24 million in bogus commissions on mutual fund trades.
JPMorgan Chase paying more than $700 million to settle SEC charges over Ala. county bonds
The two trustees of Medical Capital Holdings Inc.'s private placements, Wells Fargo & Co. and The Bank of New York Mellon Corp., have been sued by investors seeking class action status.
A rep formerly affiliated with First Allied Securities Inc. says he will fight SEC charges that he churned client accounts and made unauthorized and unsuitable trades for two institutional clients, resulting in commissions of $14.2 million.
The Labor Department is still considering regulating target date funds, according to Phyllis C. Borzi, assistant secretary of labor for the Employee Benefits Security Administration.
In 1986, Thomas A. Muldowney was discouraged by what he was seeing in the financial services industry.
