Advisor News

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FINTECH JUL 23, 2007
NASDAQ rolls out online widgets

The Nasdaq Stock Market Inc. will make a wide range of its data tools available via the Web.

By Bloomberg
INDEPENDENT BROKER DEALERS JUL 23, 2007
Bear Stearns debacle forces hedge fund index to restate

The recent fallout in the market for subprime mortgages caused one prominent hedge fund index to revise some of its performance returns last week. Last Monday, the Credit Suisse/Tremont Hedge Fund Index reported that its index for fixed-income arbitrage gained 0.21% in June and 3.7% year-to-date.

By Bloomberg
WIREHOUSES JUL 23, 2007
Brokers fret over loss of fee-based choices

After building businesses through fee-based brokerage accounts and mutual fund trail fees, many brokers are anxious about looming changes to these sources of revenue.

By Bloomberg
REGULATION AND LEGISLATION JUL 23, 2007
DOL said to keep stable value off default option list

The Department of Labor has rejected a proposal by the insurance industry to include stable-value funds as a default option for 401(k) plans, according to industry sources.

By Bloomberg
OPINION JUL 23, 2007
Solving the SEC net-worth ‘puzzlement’

By ewilliams
INDEPENDENT BROKER DEALERS JUL 23, 2007
Clearing firms jostle to win and retain indie BDs

NEW YORK — Despite continued consolidation, the clearing industry in some ways is becoming more crowded, with increased competition for the clearing business of top independent-contractor broker-dealers.

By Bloomberg
INDEPENDENT BROKER DEALERS JUL 23, 2007
‘Duel’ clearing arrangements on the rise

NEW YORK — An increasing number of independent-contractor broker-dealers are doing business with more than one clearing partner, adding to the stiff competition among some clearing firms.

By Bloomberg
WIREHOUSES JUL 23, 2007
Fidelity brings new referral program to L.A., Manhattan

SAN FRANCISCO — After achieving success in pilot cities, Fidelity Investments is taking its revamped referral program to Los Angeles, Manhattan and the New York suburbs, but with changes.

By Bloomberg
REGULATION AND LEGISLATION JUL 23, 2007
Washington state pushes for designation regs

WASHINGTON — Washington early this month became the third state to move toward regulating adviser designations when it issued two concept releases asking for public comments on the issue.

By Bloomberg
RETIREMENT PLANNING JUL 23, 2007
Plan sponsors embrace default investment alternatives

CHICAGO — While the Department of Labor has yet to issue final regulations on default options for 401(k) plans, many companies are jumping ahead and incorporating a qualified default investment alternative into their retirement plans.

By Bloomberg
RETIREMENT PLANNING JUL 23, 2007
Mickey Mouse collector bucks ‘luxury’ trend

NEW YORK — Most clients’ collections are a labor of love and not a quest for investment returns, according to financial advisers with collector clients.

By Bloomberg
OPINION JUL 23, 2007
Procedures for selecting and monitoring QDIAs

By Bloomberg
RETIREMENT PLANNING JUL 20, 2007
Uniform 401(k) disclosure urged

401(k) participants should get concise annual summaries of expenses—preferably online, according to a trade group.

By Bloomberg
FINTECH JUL 19, 2007
Pentegra teams up with BISYS

Another partnership has been formed in preparation for impending boomer retirement rush.

By Bloomberg
FINTECH JUL 19, 2007
Award highlights WiMAX investment

Aperto Networks has been named as the Top WiMAX Company in India by VOICE&DATA magazine in its latest annual survey of multiple technology sectors in India.

By Bloomberg
RETIREMENT PLANNING JUL 17, 2007
Investments as 401(k) defaults floated

The Department of Labor has proposed that investments be allowed as default options in 401(k) plans.

By Bloomberg
INDEPENDENT BROKER DEALERS JUL 17, 2007
AIG Advisor Group to consolidate units

The largest B-D network will fold American General Securities of Houston into AIG Financial Advisors of Phoenix.

By Bloomberg
RIA NEWS JUL 16, 2007
RIAs gaining in market for small 401(k)s

Registered investment advisers are the fastest-growing distribution channel for mutual-fund-based small-business 401(k)s. Starting from a small base, they are adding assets at the rate of about 14% a year, according to Boston-based Financial Research Corp.

By Bloomberg
REGULATION AND LEGISLATION JUL 16, 2007
SIFMA draws flak for Florida fee hikes

Some brokerage firms are miffed about higher registration fees that Florida implemented this month, and blame the Securities Industry and Financial Markets Association for not doing enough to stop the increases.

By Bloomberg
REGULATION AND LEGISLATION JUL 16, 2007
SEC hits hedge fund regulatory hurdle

A proposal to provide tougher qualification standards for investing in hedge funds and other alternative investments has proved to be so controversial that the Securities and Exchange Commission may have to alter the plan or scrap it altogether.

By Bloomberg