Brokerage firms, preparing to transition existing customers into alternative fee programs, are putting the freeze on new fee-based brokerage accounts.
Now that the Financial Planning Association’s victory over fee-based brokerage accounts is cemented, some in the securities industry are wondering whether the group will take aim at other brokerage transactions that hinge upon a registered representative giving clients advice.
Add financial literacy and trust in financial institutions to the factors that increase 401(k) participation rates.
John C. Whitehead said he is outraged by the excessive compensation given to Wall Street top execs.
JPMorgan Chase & Co. acquired Xign Corp., a provider of business-to-business on-demand financial settlement solutions.
The Fidelity Out of Sudan group applauded news that the fund giant has slashed its stake in PetroChina ADRs by 91%.
An affiliate of Edward Lampert's ESL Investments Inc. hedge fund now owns 15.24 million shares of Citigroup Inc.
George "Beau" Taylor, JPMorgan Chase & Co.'s energy-trading head has quit to join the Credit Suisse Group, according to published reports.
A senior fund manager at a joint venture between JPMorgan Asset Management and Shanghai International Trust & Investment Co. was dismissed yesterday because of suspected insider trading.
Merrill Lynch & Co. Inc. has announced that it will expand its private equity efforts and promote two managers.
Fidelity Investments today added international real estate, Canada and small cap funds to their Advisor fund roster.
Tom Madsen, UBS Global Asset Management’s global head of equities, has stepped down from his post to take a business development role, according to published reports.
With floor traders at the New York Stock Exchange fast becoming obsolete, Bear Stearns Cos. Inc. said today that it would write down the value of its specialist business by $225 million, according to Crain's New York Business.
Charles “Chuck” Schwab again dismissed speculation that his company might acquire TD Ameritrade Holding Corp. or E*TRADE Financial Corp. by suggesting the two rivals might form a good union themselves, according to press reports.
Fidelity Investments, the biggest U.S. mutual fund company, today announced the launch of two new share classes of Fidelity California, Massachusetts, New Jersey and New York AMT Tax-Free Money Market Funds.
NEW YORK — As some U.S. senators find fault with the arbitration system that resolves client disputes with broker-dealers, the brokerage industry’s largest trade group is defending the process.
SAN FRANCISCO — Schwab Performance Technologies Inc. is waiving the $10,000 license charge for its PortfolioCenter portfolio accounting software for advisers with 50 or fewer accounts.
IRVINE, Calif. — Small brokerage firms are concerned about possible increases in net capital requirements that the Securities and Exchange Commission has proposed.
The widely publicized dispute between diet guru Robert Atkins’ widow and the trustees of her trust is a cautionary tale for financial advisers and their clients about what can happen in estate cases, observers say.
