Many advisers who have been involved in arbitration cases are welcoming a move to give investors the option of having all-public arbitration panels.
Tax loss harvesting and defensive portfolios have been the way to go for financial advisers who rely on separately managed accounts — particularly during rocky equity markets.
As fallout from the mortgage crisis leads to tighter restrictions on lending, some financial advisers are finding opportunities to fill a void for their clients by entering the lending business.
HSBC's net income for the first six months was down 29% at $7.7 billion, compared with $10.9 billion a year ago.
Adviser confidence in the economy and stock market dropped even further last month, according to Rydex AdvisorBenchmarking Inc.'s Advisor Confidence Index.
Merrill Lynch & Co. Inc's actions last week may well have marked the beginning of the end of the financial crisis that has gripped the economy for more than a year.
Jim Nagengast was named president of Securities America Inc., the broker-dealer unit of Securities America Financial Corp.
The state of New York will bring legal action against Citigroup, accusing the bank of fraudulently selling auction rate securities and destroying documents that had been subpoenaed by the state.
In another sign of a floundering economy, the unemployment rate vaulted to 5.7% in July.
The bank has outstanding liabilities of $100 million to $500 million and fewer than 50 creditors, according to the filing.
In the past two years, 53% of registered investment advisers bought or considered buying another advisory firm.
The exchange posted a 21% increase in the second quarter but came in markedly below expectations.
“The [SEC] emergency order will further constrain normal market operations," said the Managed Funds Assoc. president.
The state charged Merrill Lynch with fraud related to auction rate securities and settled a similar claim with UBS.
Deutsche Bank’s second-quarter net income fell 36% to $1 billion from $2.8 billion a year earlier.
The economy grew at an annual rate of 1.9% in the second quarter, a slower growth rate than had been expected.
Clients would be urged to obtain a personalized hypothetical illustration, revealing all applicable charges and fees.
A host of financial services companies reported their earnings today, with only one firm boasting black ink on its ledger.
The Hartford Financial Services Group's second-quarter profits fell to $543 million or $1.73 per diluted share.
