Two former chief executives of mutual fund companies that built their businesses on the direct-sold model are in the position to make money as a result of the pending LPL Investment Holdings Inc. initial public offering.
Institutional Shareholder Services Inc., the nation's largest proxy advisory firm, could be forced to revise its business plan if the Labor Department adopts a proposal to expand the definition of “fiduciary.”
Sanders Morris Harris Group Inc., a wealth management broker-dealer that owns Edelman Financial Services LLC, indicated in its quarterly report that regulators have decided to recommend disciplining the company.
FBR Capital Markets downgraded The Charles Schwab Corp. last week on concerns that the company could face more litigation from investors.
Instead of fighting with advisers over the estimated $1.5 trillion in 401(k) rollover assets, record keepers may want to work with them.
Goldman Sachs Group Inc., the Wall Street firm that makes more money trading equities than any other bank, stopped providing clearing services for some of its smallest U.S. clients, three people told of the decision said.
Morgan Stanley, the sixth-largest U.S. bank by assets, divested a stake in Invesco Ltd. for $664 million five months after acquiring the shares in its sale of a retail asset-management business.
Sheepish about being bullish, Sonders nonetheless predicts rebound in hiring, investor enthusiasm
Catie Tobin replacing retiring Mike Kavanagh
The Charles Schwab Corp. made several technology announcements this morning at its annual Impact conference in Boston.
Generally speaking, financial advisers aren't exactly overjoyed when one of their industry associations raises its dues
The core question is simple: What's the best way to structure the mechanism by which people trade stocks?
As the new Dodd-Frank legislation requires, the Securities and Exchange Commission now has six months to study whether a fiduciary standard; a first step in this process is gathering input.
If you ever wanted proof that rational economic man is a myth, look no further than the pricing of financial services.
Republican promises to revisit the financial reform law aren't fazing Securities and Exchange Commission Chairman Mary Schapiro.
Four former Merrill Lynch brokers in Chicago are pressing their ex-employer, now owned by Bank of America Corp., to pay about $3 million in compensation they argue is owed to them.
Moody's Investors Service late yesterday downgraded John Hancock Life Insurance Co. (USA)'s insurance financial strength ratings, citing problems in the carrier's long-term-care insurance business.
Financial adviser Chris Hobart admits that congressional inaction on tax laws had him in “handcuffs,” but he's determined to cast off the shackles and take control
While Bank of America Corp. reported a $7.3 billion loss for the third quarter, the behemoth banking institution's financial advisers saw some improvement in their business in that time.
