Wachovia Securities LLC may face challenges in retaining all the brokers it wants to, in the wake of its announced merger with A.G. Edwards Inc. of St. Louis.
In an attempt to save a semblance of his family’s broker-dealer, Scott Brooks, scion of the founder of Brookstreet Securities Corp., last Thursday jumped to Wedbush Morgan Securities Inc. and then immediately invited Brookstreet’s 500 affiliated representatives to join him.
In an about-face, Schwab Institutional has reconciled with a former technology partner in an effort to upgrade its customer relationship management tool for financial advisers.
In a comfortable Colonial-era tavern in Rhode Island last Tuesday, David L. Ullom dished out generous portions of retirement advice — along with a free meal of chicken, mashed potatoes and summer squash.
IRVINE, Calif. — NASD and the New York Stock Exchange this month released long-awaited guidance to brokerage firms on how to supervise electronic communications.
NEW YORK — Recent changes in management at independent-contractor broker-dealer National Planning Corp. and National Planning Holdings Inc., its broker-dealer network, have some of its affiliated advisers concerned, while others accept the changes as part of the business.
SAN FRANCISCO — The U.S. economy has some shaky elements, but Federal Reserve Board Chairman Ben S. Bernanke’s track record still is rock solid, according to financial advisers, chief economists and other executives in the investments industry.
OTTAWA — In a confusing compromise, federal Finance Minister Jim Flaherty and his peers from the provinces and territories agreed last Tuesday that the feds would set up a panel to study the creation of a single Canadian securities regulator.
WASHINGTON — Disclosures of 12(b)-1 fees should be made clearer and easier to decipher, but the fees themselves should not be abolished, officials from the mutual fund and brokerage industries said at a Securities and Exchange Commission round table last week.
NEW YORK — After receiving suggestions from financial professionals, the Social Security Administration has designated a section of its website specifically for advisers.
CHICAGO — Data gathered by Boston-based research firm Cerulli Associates Inc. confirm what most observers have long suspected: Fidelity Investments is the nation’s individual-retirement-account powerhouse.
Scott Brooks has jumped from Brookstreet to Wedbush Morgan and has asked Brookstreet's reps to join him.
The Online 401(k) announced today it is partnering with Expedition Payroll, which will allow the company to offer its clients more comprehensive payroll systems.
Brookstreet Securities told its 500 or so affiliated reps and advisers that "disaster" had struck.
NASD has fined Wachovia $2 million for failing to adequately supervise its fee-based brokerage business.
Lehman Brothers plans to raise $500 million for a fund that invests in private equity companies, according to published reports.
Morgan Stanley scored record levels of income and net revenues during the second quarter.
Federal court trials have started for Gregory L. Reyes, former chief executive of Brocade Communications.
Compensating brokers for servicing mutual fund shareholders was anticipated by the SEC when it first adopted12(b)-1 fees in 1980.
