Securities and Exchange Commission Chairman Mary Schapiro has called on Congress to allow broker-dealers to compete on commissions they charge when they sell mutual fund shares.
Citigroup joined four other big banks in reporting strong results for the quarter. After paying preferred dividends, the bank earned $3 billion, or 49 cents per share. It lost $2.86 billion, or 55 cents per share, during the same quarter last year.
Wall Street's major trade group has declared its support for a new federal fiduciary standard for broker-dealers and investment advisers who provide personalized investment advice.
Morgan Stanley Investment Management raised more than $600 million from institutional and high-net-worth investors for its TALF strategy, spokeswoman Erica Platt confirmed.
Going beyond their past call for a professional oversight board for financial planners, the Financial Planning Coalition today will ask Congress to bring under one organizational umbrella all advisers who provide financial planning services.
Moglia will likely feel comfortable at the athletic department because he coached football for 16 years and served as Dartmouth College's defensive coordinator before joining the business world.
Construction of new U.S. homes rose in June to the highest level in seven months, a sign builders are starting to regain confidence as they emerge from the housing bust.
Two House committees today approved the Affordable Health Choices Act, a health care reform bill that would expand health insurance to 97% of Americans.
Throw cold water on reports that bearish economist Nouriel Roubini is turning into an optimist.
Prudential Financial Inc. of Newark, N.J., is back in talks with American International Group Inc. to purchase a pair of the beleaguered carrier's Japanese units, according to published reports.
The Charles Schwab Corp. today reported a 31% decline in second-quarter earnings from the year-earlier period, citing low interest rates, restructuring charges and still-weak equities markets.
Executives at Morgan Stanley Smith Barney have begun a round of layoffs in a bid to cut costs resulting from the massive merger of the two firms, which was completed last month.
Virginia will receive nearly $1.3 million as part of a multistate settlement with two investment companies.
With the decline in the stock market over the last year, there is renewed interest in lifetime income guarantees for retirees. So, does it make sense to annuitize retirement money or roll the dice with market based returns?
JPMorgan Chase & Co. posted a 36% jump in second-quarter profit today easily surpassing Wall Street expectations as strength in its core consumer and investment banking businesses offset a jump in credit losses.
Consumer prices shot up in June by the largest amount in 11 months, reflecting the biggest jump in gasoline prices in nearly five years.
In a major retrenchment, LPL Investment Holdings Inc. of Boston is pulling the plug on the Pershing LLC clearing platform used by about 1,700 advisers on three broker-dealers it acquired in 2007, and moving those reps onto LPL's clearing platform.
The government says consumer prices shot up in June by the largest amount in 11 months, reflecting the biggest jump in gasoline prices in nearly five years.
Grandparents have been shelling out cash to help their grandchildren, but not advice to accompany the assistance, according to data from MetLife Mature Market Institute.
The government said retail sales advanced in June by the largest amount in five months, led by a surge in gasoline prices and a slight rebound in the battered auto sector.
