Advisor News

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FINTECH AUG 12, 2010
Fidelity WealthCentral adds clients, trading capabilities

More than 600 firms now on platform; rival products from Schwab, TD on the way

By Davis Janowski
RIA NEWS AUG 12, 2010
Ex-ING adviser Breard gets just under 7 years in prison for fraud

A Kirkland financial planner who looted her clients' investment accounts was sentenced to six years and eight months in prison by a federal judge who praised her for cooperating after she got caught.

By InvestmentNews Staff
FINTECH AUG 12, 2010
Finantix Wealth-X for iPad — the most beautiful financial planning program ever

By Davis Janowski
Ex-Morgan Stanley reps convicted of fraud can keep bonuses: Finra
REGULATION AND LEGISLATION AUG 12, 2010
Ex-Morgan Stanley reps convicted of fraud can keep bonuses: Finra

Morgan Stanley, owner of the world's largest brokerage, lost an arbitration ruling that will allow two brokers convicted of securities fraud to each keep $4.45 million in signing bonuses.

By Bloomberg
FINTECH AUG 12, 2010
Two popular adviser applications now linked up with PreciseFP

The creators of PreciseFP, a slick-looking online client questionnaire used by financial advisers, today announced integrations with two popular programs.

By Davis Janowski
RIA NEWS AUG 12, 2010
Younger investors at risk of being 'Depression generation': Krawcheck

Fear of market gyrations taking hold among affluent young investors; is the 'conservatism' embedded?

By Bloomberg
REGULATION AND LEGISLATION AUG 11, 2010
Finra wants more financial reporting from B-Ds

The Financial Industry Regulatory Authority Inc. is proposing a rule that would let the regulator demand more frequent financial reporting from its member firms — and as a first step, it wants more details on revenues and expenses.

By Dan Jamieson
WIREHOUSES AUG 11, 2010
MSSB hits small accounts with new fees

Morgan Stanley Smith Barney LLC this month began imposing quarterly fees of $35 on households with total accounts under $25,000, the latest development in big brokerage firms' long-simmering campaigns to wean financial advisers from small accounts.

By Jed Horowitz
REGULATION AND LEGISLATION AUG 11, 2010
Star adviser Breard pleads guilty to fraud

Seattle celebrity stole nearly $9 million from 38 clients; surrenders three homes and dozens of vehicles

By InvestmentNews Staff
REGULATION AND LEGISLATION AUG 11, 2010
Surprise audit trips up star financial adviser in Seattle

An unexpected visit by an ING Financial auditor uncovered a potential scam at Breard & Associates Wealth Management. Now, infomercial star Rhonda Breard faces fraud charges.

By InvestmentNews Staff
MUTUAL FUNDS AUG 10, 2010
Hennessy eyes nixing 12(b)-1 fees on two funds

Management isn't convinced it needs the marketing fees to attract assets; 'bang for the buck'?

By Jessica Toonkel
RETIREMENT PLANNING AUG 09, 2010
Rich kids get a web site to help manage their allowances

Citi private bank testing site tarteting heirs of high-net worth clients; Spend Grow Give

By Bloomberg
Morgan Stanley Smith Barney shuffles retail management team
WIREHOUSES AUG 09, 2010
Morgan Stanley Smith Barney shuffles retail management team

In an executive switch that creates an opening in its wrap account business, Morgan Stanley Smith Barney LLC has named a new chief operating officer and a new private-wealth-management head.

By Jed Horowitz
RIA NEWS AUG 09, 2010
New online disclosures rattle investment advisers

Advisers are alarmed that a new online reporting system that discloses their disciplinary records includes customer complaints that have not been substantiated.

By Bloomberg
RETIREMENT PLANNING AUG 09, 2010
Automatic IRAs would help retirement security, says Treasury's Iwry

The guru of federal retirement policy has high hopes for one of his yet-to-be-approved retirement creations: the automatic IRA.

By Bloomberg
RETIREMENT PLANNING AUG 09, 2010
Blog of the Day: What's the best way to provide advice to 401(k) participants?

What to do while waiting for the participant advice rule to be finalized.

By Mark Bruno
REGULATION AND LEGISLATION AUG 09, 2010
Vanguard sued for discrimination over hiring of financial planning manager

The Vanguard Group Inc. is alleged to have violated federal law when it refused to hire an black applicant because of her race, according to a lawsuit filed by the Equal Employment Opportunity Commission.

By David Hoffman
RETIREMENT PLANNING AUG 09, 2010
Radical retirement initiative from Brookings in the works

Some top retirement gurus are in the process of developing proposals that could make annuity products a crucial part of millions of Americans' retirement plans.

By Mark Bruno
RETIREMENT PLANNING AUG 08, 2010
Employers slow to restore 401(k) matching contributions

Economists heralded FedEx Corp.'s decision to restore its matching contribution to employees' 401(k) plans as a sign that the recession is ending, but surveys show that less than half of the firms that reduced or suspended plan matches in recent years have restored them.

By Joanne Wojcik
RIA NEWS AUG 08, 2010
Congress likely to punt on estate tax until fall – or later

As Congress heads toward its summer recess, it looks unlikely that legislators will make progress any time soon on the estate tax. That leaves financial planners and their clients in the lurch.

By Mark Schoeff Jr.