Thomas James clearly is displeased with the growth at Raymond James Financial Services Inc.
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 top executives at large financial services companies saw a big jump in pay last year.
New accusations against equity index annuity sellers may lead to regulatory grief comparable to what property-casualty firms suffered during the contingent- commission scandal a couple of years ago, industry observers say.
The rapid rise of equity markets over the past few months has introduced a new challenge to some financial advisers: keeping clients focused on long-term objectives.
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.
WASHINGTON — The battle to help investors globalize their portfolios has received two more weapons.
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.
OTTAWA — Combating the concentration of financial muscle among Canada’s Big Six banks, the nation’s financial advisers are showing modest success in their competitive solution — the creation of their own banks.
IRVINE, Calif. — NASD is expanding the disciplinary information it discloses about brokers and firms.
NEW YORK — Paying attention to such details as retirement plan fees and documentation is a tough sell — especially when small- business owners have businesses to run.
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.
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.
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.
NEW YORK — Following the lead of investment banks, money managers are turning to India to hire research analysts at a cheaper price.
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 — Insurers are launching marketing blitzes to win the investible assets of the wealthy, but many will fail because they don’t understand how rich people think, some consultants say.
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.
OTTAWA — Recent research indicates that those who fear a “hollowing out” of the Canadian economy through foreign takeovers of domestic companies (InvestmentNews, Nov. 6) may have good reason.
