For the past 10 years, executives at the largest independent broker-dealers have been predicting a tide of consolidation, with economics forcing smaller firms to shut down or sell out to bigger firms.
The public will reap a profit as the U.S. government sells off the remainder of its holdings in American International Group Inc., chief executive Robert H. Benmosche said today.
Recruiting will become more expensive in 2011 as the fight for top advisers heats up among independent broker-dealers looking to bounce back from a lackluster 2010.
National Financial Partners, a consolidator of insurance-brokerage and financial-planning firms, has acquired Fusion Advisor.
Americans spending less, saving more; overall indebtedness at lowest level since 1994
If oil is what drives the U.S. economy, than let's put the real powers-that-be in the driver's seat
Barclays Wealth continues to lure advisers focused on ultrahigh-net-worth individuals, announcing six new hires in three East Coast markets.
Investors who couldn't afford to buy Berkshire shares bought cheaper Wesco stock as proxy; now, the Oracle taking Wesco private
A slate of major life insurers — the 10 largest doing business in California — are under investigation for the way they handle dormant life insurance policies
SunAmerica Annuity and Life Assurance Co. is back in the fight in variable annuity sales after being dropped from or ignored on platforms for the past few years
Bank may cut headcount at its brokerage beyond previously announced targets; underwhelming first quarter
At the Morningstar conference, bond king and occasional buzzkill Bill Gross stayed on point, labeling the government's $100 trillion entitlement liability 'a staggering obituary.' He also defended his bearish views on Treasuries, despite the recent rally in the instruments.
Analyst Brad Hintz says Morgan Stanley boss James Gorman won't try to reign in comp costs at MSSB anytime soon. Why? Because UBS' Bob McCann and BofA's Sallie Krawcheck are on the prowl for the brokerage's talent.
The fastest growing mutual fund companies have one thing in common: They are anything but just plain-vanilla stock and bond asset management firms.
Both bulls in bears will be disappointed, billionaire investment manager predicts
Billionaire investor says next decade will be as good as 1990s; 'we are chimpanzees with no memory'
This week's wild actions on Wall Street should serve as a stark reminder that few investors have any clue as to what is really going on beneath the surface of America's troubled economy.
