NEW YORK — Despite continued consolidation, the clearing industry in some ways is becoming more crowded, with increased competition for the clearing business of top independent-contractor broker-dealers.
NEW YORK — An increasing number of independent-contractor broker-dealers are doing business with more than one clearing partner, adding to the stiff competition among some clearing firms.
SAN FRANCISCO — After achieving success in pilot cities, Fidelity Investments is taking its revamped referral program to Los Angeles, Manhattan and the New York suburbs, but with changes.
WASHINGTON — Washington early this month became the third state to move toward regulating adviser designations when it issued two concept releases asking for public comments on the issue.
CHICAGO — While the Department of Labor has yet to issue final regulations on default options for 401(k) plans, many companies are jumping ahead and incorporating a qualified default investment alternative into their retirement plans.
NEW YORK — Most clients’ collections are a labor of love and not a quest for investment returns, according to financial advisers with collector clients.
401(k) participants should get concise annual summaries of expenses—preferably online, according to a trade group.
Another partnership has been formed in preparation for impending boomer retirement rush.
Aperto Networks has been named as the Top WiMAX Company in India by VOICE&DATA magazine in its latest annual survey of multiple technology sectors in India.
The Department of Labor has proposed that investments be allowed as default options in 401(k) plans.
The largest B-D network will fold American General Securities of Houston into AIG Financial Advisors of Phoenix.
Registered investment advisers are the fastest-growing distribution channel for mutual-fund-based small-business 401(k)s. Starting from a small base, they are adding assets at the rate of about 14% a year, according to Boston-based Financial Research Corp.
Some brokerage firms are miffed about higher registration fees that Florida implemented this month, and blame the Securities Industry and Financial Markets Association for not doing enough to stop the increases.
A proposal to provide tougher qualification standards for investing in hedge funds and other alternative investments has proved to be so controversial that the Securities and Exchange Commission may have to alter the plan or scrap it altogether.
In a case that married dry-as-dust estate-planning issues with “Dallas”-like squabbling among wealthy family members, a Texas court has decided that King Ranch heir B.K. Johnson had all his faculties when he drew up his last will and that his widow and third wife didn’t manipulate him into excluding his children.
IRVINE, Calif. — An SEC proposal to change how broker-dealers can invest customer reserve funds has come under attack from a variety of industry interests.
