While advisers want their separately managed accounts made available on unified managed account systems, SMA managers fear that that will result in a loss of control over how their products are marketed.
Many Employee Retirement Income Security Act fiduciaries, including plan sponsors, trustees and members of investment committees, are unaware of their significant responsibilities relating to the prudent selection and monitoring of plan asset investments, and the proper operation of their qualified plans.
NEW YORK — Looking to de-fuse a potential time bomb for independent-contractor broker-dealers, the Financial Services Institute Inc. wants the Securities and Exchange Commission to change its privacy rule.
IRVINE, Calif. — NASD is expanding the disciplinary information it discloses about brokers and firms.
SAN FRANCISCO — Wachovia Wealth Management missed the mark set by its parent company last year as earnings growth was dampened by investments and growth pains in that division.
NASD has hired a former board member as a consultant, raising questions about conflicts of interest and concerns about how well small firms have been represented in the organization.
Industry leaders eagerly are awaiting a proposal that would allow mutual funds to provide a two-page prospectus in lieu of the lengthy one now required, a concept that could save millions of dollars in costs.
WASHINGTON — House Democrats are hoping to appeal to the middle class with a plan to shift to wealthy taxpayers the responsibility for paying the alternative minimum tax, but financial advisers in general think that it is a bad idea.
NEW YORK — As the May 14 deadline looms for the Securities and Exchange Commission to appeal the overturning of the broker-dealer exemption rule, supporters and opponents of the rule have been busy making their case in the court of public opinion.
No matter how you are registered and regulated, you can’t afford to turn a blind eye to the breaches of your clients who are fiduciaries — investment committees of retirement plans, foundations and endowments, and trustees of personal trusts.
The Women’s Retirement Security Act of 2007 was introduced in the Senate yesterday In an effort to help women save for retirement.
The end of the broker-dealer exemption rule will create a great opportunity for registered investment advisers to build out their firms, said J. Thomas Bradley, president of TD Ameritrade Institutional, speaking in Chicago today.
A.G. Edwards & Sons Inc. of St. Louis yesterday settled with the Securities and Exchange Commission over allegations of mutual fund market timing. The firm agreed to pay $2.4 million in disgorgement and $1.5 million in penalties.
New York-based Lehman Brothers has appointed Roger Nagioff as global head of fixed income, based in London, according to published reports.
The National Association of Personal Financial Advisors has launched a new benchmarking tool that will help advisers measure their practices against those of fellow NAPFA members.
Wachovia Securities LLC is launching a pilot version of a retirement income management account, Robert Vorlop, director of investment products, told attendees of the Money Management Institute's annual meeting in Washington.
Wealthy investors are less likely to be loyal to a brokerage firm than they are to an adviser with whom they have developed a strong relationship, according to a national study of 4,000 affluent Americans released today by Cambridge, Mass.-based market research firm Cogent Research LLC.
Goldman Sachs Asset Management has introductioned two new fund-of-funds, the Goldman Sachs Income Strategies Portfolio (GXIAX) and the Goldman Sachs Satellite Strategies Portfolio (GXSAX), both of which will be managed by its by GSAM's Quantitative Strategies Group.
Fidelity Investments today announced the offering of three new enhanced index funds: Fidelity Large Cap Value Enhanced Index Fund, Fidelity Large Cap Core Enhanced Index Fund and Fidelity Large Cap Growth Enhanced Index Fund.
Merrill Lynch & Co. Inc. will buy back as much as $6 billion in shares of common stock over time, in an effort to return capital building up on its balance sheet to investors, the company announced today.
