McMillan also bemoans pace of reform, saying firms still not sure if they'll be deemed too big too fail
Retirement funds not even close to what employees say they'll likely need; confidence level lowest in 20 years
Imagine giving your clients an interactive retirement calculator that is about as simple to operate as an Etch A Sketch but can handle complex hypothetical scenarios — all with no initial manual data input required
Todd S. Thomson, Citigroup Inc.'s former head of wealth management, lured a top Bank of America Corp. financial adviser with $5.9 billion in client assets to join a new business that caters to independent advisory firms.
Republican resistance to imposing user fees on investment advisers in order to fund examinations — and to a universal fiduciary duty for retail investment advice — is slowly emerging on Capitol Hill
Republicans on the House Financial Services Committee are urging the Securities and Exchange Commission to refrain from imposing a universal fiduciary duty of care for retail investment advice
Securities and Exchange Commission Chairman Mary Schapiro told a congressional panel last Tuesday that spending reductions of the magnitude sought by Republicans would force the agency to cut back investment adviser examinations substantially
House Republicans want the SEC to halt its fiduciary duty rulemaking. Why? The GOP lawmakers say the commission needs to look harder at the impact of a universal standard of care.
With the economy seemingly on the mend, newbie financial advisers are finding that it's a great time to be breaking into the game
With a number of indie B-Ds shuttering in the last 12 months, nearly 2,400 reps have been forced to find new broker-dealers.
So who's the big winner in the QA3 rep sweepstakes? Right now, it looks like FSC Securities. The AIG unit is in line to snag 50 of the foundering B-D's reps.
In the wake of the recent SEC report that recommends a universal fiduciary standard for personalized retail investment advice, most attention has focused on the potential impact on broker-dealers
Department pushes back deadline for comments by 15 days
The Labor Department and representatives from service providers and pension advocacy groups sparred last week about whether presenting a retirement plan with a fund lineup constitutes investment advice
ASPPA rails against proposal requiring brokers to disclose that they're not impartial and not working in a plan's best interest
Are you familiar with the Wells Fargo Profit Formula program? It was designed and originally launched by Wheat First, the Richmond, VA based regional broker dealer bought out by First Union in 1997. Wachovia and First Union merged in 2001, and Wells saved Wachovia from collapse in 2009.
The new consumer protection agency won't extend its jurisdiction to areas involving investment advisers or insurance agents, according to a Treasury Department official involved with setting it up
