LPL Financial Services is playing hardball. Officials at the firm reportedly made it clear to competitor National Planning Holdings Inc. that it needs to step away from recruiting registered representatives from Pacific Life Insurance Co. or it will face consequences.
Financial advisers across the country who use Linsco/Private Ledger Corp. as their broker-dealer are raising prices, mostly for new clients.
Now that a lawsuit challenging the merger of the regulatory units of NASD and the New York Stock Exchange has been dismissed, attention has turned to the Securities and Exchange Commission, where NASD bylaw changes needed to seal the deal are pending approval.
With the deadline bearing down to initiate legal action to block a federal court’s decision on the legality of fee-based brokerage accounts, the brokerage industry is looking for guidance on how to proceed.
Raymond James Financial Services Inc. is adding major clout to its recruiting effort, bringing on board half a dozen recruiters, including two top executives from rival independent-contractor firms, investmentnews.com reported Friday.
The Securities and Exchange Commission is examining disclosures for 401(k) plans and is looking at ways to provide 401(k) information using interactive software, SEC Chairman Christopher Cox said last week.
Lincoln Employer Markets announced today that the Lincoln National Life Insurance Company now offers an annuity rider on its defined contribution plans.
The Securities and Exchange Commission is examining disclosures for 401(k) plans and is looking at ways to provide such information using interactive software, SEC Chairman Christopher Cox today told the mutual fund industry today.
As they examine the 401(k) retirement plan system, policy makers would be wise not to focus all their attention on fees, Martin L. Flanagan, chairman of the Investment Company Institute of Washington said today at the ICI’s general membership meeting.
Morgan Stanley & Co. Inc. will pay $7.9 million for its failure to provide best execution to certain retail orders for over-the-counter securities, the Securities and Exchange Commission announced today.
Fidelity Investments, in cooperation with Oracle Corp. and Emerging Information Systems Inc., has created two web-based customer relationship management and financial planning systems for registered investment advisers, the Boston-based firm announced today.
Legg Mason Inc. posted a 15% increase in net income as increased advisory fees drove assets under management to record levels.
As part of effort to spiff up its fee business, the ING Advisors broker-dealers have cut fees that their advisers pay for two key advisory offerings.
Charles Schwab Investment Management has lowered its minimum initial investment in mutual funds to $100 as part of a sweeping effort to capture younger investors.
NASD announced today that it has fined two Fidelity Investments broker-dealers $400,000 for preparing and distributing misleading sales literature promoting plans that were sold primarily to U.S. military personnel.
Citigroup Inc. has agreed to pay $200,000 to settle charges with the Securities and Exchange Commission regarding one of its brokerage units that manipulated auctions involving municipal and corporate bonds.
JPMorgan Chase & Co. has agreed to stop making payments to more than 100 college alumni associations that allowed the company to market its consolidation loans directly to graduates, according to the Wall Street Journal.
Citigroup Inc. today announced that it will spend $50 billion over the 10 years to address global climate change, the largest such move ever by Wall Street firm.
Mutual fund companies are starting to slow the pace at which they hire legal and compliance officers, according to several industry experts. With the mutual fund scandals receding into the past, such a trend was inevitable, they said.
