Bernard Madoff pleaded guilty Thursday to an epic fraud that robbed investors worldwide of billions of dollars, avoiding eye contact with swindled investors before he was led out of court with his hands cuffed behind his back.
McLean Wealth Advisors announced today the launch of a fee-based platform for its investment advisory services business.
Stocks declined in early trading Thursday after mixed economic data and a cut in General Electric Co.'s credit rating.
The official in charge of the Treasury's $700 billion bailout program for the financial sector warns Congress that the government should not force banks to make loans that bankers may deem risky.
President Barack Obama called Wednesday for international allies to sign on to more aggressive steps to jump-start their own economies.
President Barack Obama plans to sign a massive spending bill to keep the federal government running, even though it is stashed with the very kinds of pet projects that the campaigning Obama promised to resist.
Raymond James wants help from issuers of auction rate securities. And if it doesn’t get it, the firm may sue.
A recent court ruling has paved the way for the bulk of the Leona M. and Harry B. Helmsley Charitable Trust to be spent on charitable efforts, not on dogs.
“The Daily Show’s” Jon Stewart has brought to wide public attention — in his signature snarky style — what advisers have been saying for years: much of the content on CNBC is super-hyped, useless pap.
A Massachusetts-based registered rep for a MassMutual subsidiary was charged with wire fraud after allegedly swindling two elderly investors.
Fidelity Investments of Boston today launched three funds, including the firm’s first convertible-securities fund.
Legislation that would allow the victims of the Bernard L. Madoff Securities LLC fraud to receive refunds for the taxes they paid on phantom profits was introduced today by Rep. Gary Ackerman, D-N.Y.
The National Association of Insurance Commissioners has released a list of carriers that have applied for a special accounting treatment aimed at helping them raise capital and surplus.
The Securities and Exchange Commission has announced that it will begin contacting investors to make sure they have the assets their investment advisers are reporting.
Advisers need to bolster their sales efforts to snag new clients since most advisory firms’ sales are down 10% to 40%, one industry expert told advisers at the Financial Planning Association’s Business Solutions conference at the Chicago Westin.
Terms such as “fiduciary duty” and “suitability” contribute to investor confusion, and they should be replaced by a “universal standard of care” for brokers, says SIFMA.
Only two of the top 100 largest foundations have said they plan to increase giving this year, according to a new report from the Foundations Center.
At least one executive of a bank that is receiving federal bailout money stands to earn tens of millions of dollars if his company rebounds, according to a report released yesterday by The Corporate Library.
Your wealthy client, age 72, has a sizable individual retirement account and is wondering whether to make charitable contributions from the IRA in 2009.
Investment advisory firms should be able to hold custody of client assets so long as advisory functions are separated from custodial functions, according to the Investment Adviser Association.
