Ameriprise Financial Services Inc. says that it is finally ready to execute its long-discussed strategy to recruit registered representatives and advisers from rival firms.
The Section 529 college savings plan industry is on a roll. Net sales of 529 plans rose to an all-time high of $5.2 billion during the first quarter of 2007, according to the most recent data available from Boston-based Financial Research Corp.
NEW YORK — Sick and tired of complying with an increasingly complex regulatory framework, many financial advisers knowingly sidestep their firms’ compliance policies and sometimes show little regard for rules and regulations, according to a new survey of advisers and other financial services professionals.
State regulators are questioning whether some of the “harmonization” of rules of the regulatory operations of NASD and the New York Stock Exchange will harm investor protection
The Federal Reserve Board will consider new regulations to tighten mortgage-lending standards, said Fed chairman Ben Bernanke in a letter released Friday.
Nasdaq Stock Market Inc. has agreed to buy Nordic markets owner OMX AB for $3.7 billion, after failing on an earlier bid to purchase the London Stock Exchange.
Merrill Lynch & Co. has trimmed employees’ sick days from 40 to 10, according to an internal memo.
Eaton Vance Corp. reported a 42% fall in profits for the<br>second quarter today.
Ben Weston, chief of hedge fund development at Merrill Lynch & Co. Inc., has left the company.
Aon Corporation announced today that chief financial officer David P. Bolger will leave the Chicago-based insurance broker after the appointment of his successor.
Euronext NV today reported a 4.4% profit loss during the first quarter, due to a reclassification of the company’s stake in LCH.Clearnet.
JPMorgan Chase & Co. has launched 12 indexes comprising exchange-listed American Depositary Receipts and Global Depositary Receipts.
Merrill Lynch & Co. Inc. is purchasing a 20% minority stake in a hedge fund with $8 billion in assets under management.
Merrill Lynch & Co. Inc. plans to reshuffle the leadership structure of its markets and investment banking operations, according to a Financial Times report.
Despite its pending acquisition by a unit of Power Financial Corp., Putnam Investments continues to face an uphill battle in its bid to regain the trust and confidence of financial advisers.
Charles “Ed” Haldeman Jr. said that it’s “fine” with him if his soon-to-be bosses at Canada’s Power Financial Corp. want to replace him as chief executive of Putnam Investments.
PHILADELPHIA — Distressed debt can be risky, but that hasn’t stopped investors from turning to it in search of extra yield, industry observers say.
Other banks may follow Bank of America Corp.’s decision this month to cut mortgage clients’ borrowing costs drastically, including waiving the requirement for private mortgage insurance, industry observers say.
Brokerage firms, preparing to transition existing customers into alternative fee programs, are putting the freeze on new fee-based brokerage accounts.
Now that the Financial Planning Association’s victory over fee-based brokerage accounts is cemented, some in the securities industry are wondering whether the group will take aim at other brokerage transactions that hinge upon a registered representative giving clients advice.
