Despite the tougher outlook for regulatory audits in the coming months, many advisory firms that host their own e-mail systems still lack an e-mail archiving and backup system (44% of advisers who responded to an <i>InvestmentNews</i> technology survey last year said they had no such system).
The Securities and Exchange Commission would be required to issue rules prohibiting or limiting mandatory arbitration clauses in securities contracts under draft legislation introduced this week by Senate Banking Committee Chairman Christopher Dodd, D-Conn.
Measures that would significantly boost funding for the Securities and Exchange Commission as well as give shareholders a say on executive pay are included in draft financial overhaul legislation in the Senate, a person familiar with the matter said Monday.
Milliman Inc. is in discussions with a number of mutual fund companies, insurers and 401(k) plan sponsors to launch a guaranteed income product that would be backed by a pool of insurers.
After months of pursuit, Donald Marron finally has landed a broker-dealer network, and the former chairman and chief executive of PaineWebber Group Inc. can't think more highly of its potential.
Several financial advisers said that they agree with the Supreme Court justices who appeared to suggest during oral arguments last week that the Securities and Exchange Commission, and not the courts, should ultimately decide when mutual fund fees are excessive.
The lousy economy hasn't been bad for everyone.
The financial advisory industry and its clients still may be struggling with the aftermath of the market crash — but investor plaintiff's attorneys are doing just fine, thank you.
The first thing adviser Karin Lopez-Gerber does upon arriving at her office is examine her client downloads from the night before.
Cheshire Software Inc. has released an updated version of its Cheshire Wealth Manager planning program, which helps advisers develop both lifetime plans and simpler, goal-based plans for clients.
More than twice the number of target date funds have liquidated this year than in all of 2008, indicating how difficult it is for asset managers unaffiliated with 401(k) record keepers to build assets in such funds.
An arbitration panel has awarded a former broker at Allegiant Securities LLC $100,000 in a case that arbitrators said involved a forged letter purporting to be from the Financial Industry Regulatory Authority Inc.
Focus Financial Partners LLC, which calls itself the largest partnership of wealth management firms in the world, is securing a new capital infusion to help it service outstanding bank debt and continue its business of acquiring stakes in large registered-investment-advisory firms.
CashEdge Inc. is now making its AllData Advisor account aggregation service available to financial advisers via a self-service online subscription.
Big bonuses could be back in store for some top executives and traders on Wall Street as profitability returned to the investment banking industry in 2009, according to a new study released Thursday.
The Senate Finance Committee has drafted a bill that would reduce the chances of financial advisers getting hit with lawsuits because of disputes about certain retirement plans and other types of benefit programs sold to small businesses.
Life insurance producer advocacy groups celebrated the House Financial Services Committee's approval yesterday of the proposed Investor Protection Act, but stressed the bill still doesn't go far enough in protecting commissioned-based insurance sales agents.
The Securities and Exchange Commission is conducting a “comprehensive review” of the way proxy ballots are voted in the election of corporate directors and how proxy information is communicated to shareholders, SEC Chairman Mary Schapiro said this morning in New York at the Practising Law Institute's 41st annual Institute on Securities Regulation.
Many if not Most Advisors of acquired firms leave "Big" and return to "Small." Why?
