Marsh & McLennan Cos. today reported that first-quarter income declined by 36% to $268 million, compared to $416 million for the same period a year ago.
JPMorgan Chase & Co. has agreed to stop making payments to more than 100 college alumni associations that allowed the company to market its consolidation loans directly to graduates, according to the Wall Street Journal.
NASD announced today that it has fined two Fidelity Investments broker-dealers $400,000 for preparing and distributing misleading sales literature promoting plans that were sold primarily to U.S. military personnel.
The National Association of Securities Dealers and state regulators in North Dakota, Iowa and Minnesota signed a joint statement supporting a new rule to require that insurance companies and agencies recommend only suitable annuity products to their customers.
Lazard Ltd. Today posted a 4.9% increase in first quarter revenues on growing asset management fee income and record inflows, but fell short of analysts expectations.
Advisers need to be educated about college savings plans in order to better serve ther clients. That was one of the messages delievered at a confernce on colleges savings this morning sponsered by AllianceBernstein Investments.
Citigroup Inc. has agreed to pay $200,000 to settle charges with the Securities and Exchange Commission regarding one of its brokerage units that manipulated auctions involving municipal and corporate bonds.
Citigroup Inc. today announced that it will spend $50 billion over the 10 years to address global climate change, the largest such move ever by Wall Street firm.
Mutual fund companies are starting to slow the pace at which they hire legal and compliance officers, according to several industry experts. With the mutual fund scandals receding into the past, such a trend was inevitable, they said.
MetLife Inc., the largest U.S. life insurer by assets, is reaping the benefits from its growing international business.
Liberty Mutual Group in Boston today announced that it will acquire all outstanding shares of common stock of Ohio Casualty Corp. of Fairfield, Ohio for $2.7 billion in cash, or $44 per share.
INVEST Financial Corp. of Tampa, Fla., this morning said it has acquired the contracts of nearly 400 bank-based registered representatives of PFIC Securities Corp. of Franklin, Tenn., a subsidiary of Morgan Keegan & Co. Inc. of Memphis.
Amid protest from its advisers that they are being asked to assume too much liability, TD Ameritrade Institutional is going back to the drawing board with its new service agreement.
New accusations against equity index annuity sellers may lead to regulatory grief comparable to what property-casualty firms suffered during the contingent- commission scandal a couple of years ago, industry observers say.
Thomas James clearly is displeased with the growth at Raymond James Financial Services Inc.
The rapid rise of equity markets over the past few months has introduced a new challenge to some financial advisers: keeping clients focused on long-term objectives.
Many top executives at large financial services companies saw a big jump in pay last year.
While advisers want their separately managed accounts made available on unified managed account systems, SMA managers fear that that will result in a loss of control over how their products are marketed.
