TD Ameritrade Holding Corp. posted an 18% drop in second-quarter net income today, one year after the company recorded its largest one-time gain.
The IRS plans to issue final regulations for 403(b) plans by the end of June, and the changes could result in industry consolidation, particularly in the K-12 marketplace, observers said.
Along with the layoffs and cost cutting unveiled last week by Citigroup Inc. came rumors that the company’s Smith Barney brokerage unit was destined for a spinoff.
The radical notion of abolishing mutual fund boards and allowing funds to set their own prices may be worth a second look, according to the head of a group representing independent fund directors for the $10.4 trillion fund industry.
IRVINE, Calif. — NASD continues to tinker with a pending variable annuity suitability rule, making a fourth proposed change in almost two years.
WASHINGTON — Members of Congress are calling for investigations into alleged long-term-care-insurance abuses just as the government is set to release its latest survey, showing a 97% satisfaction rate among policy claimants.
A year after taking over retail at Morgan Stanley — amid much skepticism — James Gorman has made believers out of most of the firm’s troops.
Including annuities in 401(k) plans could represent a prime opportunity for advisers — if a new model for compensation can be devised and if advisers are allowed on-site to explain their product to employees, according to industry experts.
CIT Group Inc. said Monday that it placed three top executives at its Student Loan Xpress unit on leave just days after the companies were subpoenaed by New York state Attorney General Andrew Cuomo in his ongoing probe of the $85 billion student loan industry.
The National Futures Association suspended Christ Investment Service LLC, a San Francisco-based introducing broker, for allegedly illegally acting as a futures commission merchant and as a counterparty to foreign currency transactions, according to the association.
Abolishing the role of mutual fund boards of directors in approving advisory expense ratios would lead to more competition in mutual fund fees, according to a book released in Washington today.
IntercontinentalExchange Inc. will open a trading center in New York's World Financial Center on April 12 to serve qualified professional traders.
Brokers who left United Securities Alliance Inc. before its March 1 acquisition by Royal Alliance Associates Inc. received a letter from United’s lawyers last month that contained a surprise: They owe United $5,000.
Charles R. Schwab last week called the fundamental indexes underlying his company’s three newest mutual funds “a better mousetrap,” but The Vanguard Group Inc. and Barclays Global Investors smell a rat.
Many Americans are paying high fees in their 401(k) plans for insurance they don’t need, and their employers often are unaware, some observers say.
As reported here last week, a federal appeals court has struck down the Securities and Exchange Commission’s broker-dealer exemption, stating that the commission lacks the authority to grant brokers broad exceptions to rules that apply to investment advisers.
NEW YORK — Raymond James & Associates Inc. recruited 36 registered representatives during the first quarter, compared with the 43 reps hired during the year-earlier period.
The securities industry is coming to grips with the defeat of the broker-dealer exemption rule.
