Among the many provisions in the SEC's plan to overhaul 12(b)-1 fees for mutual funds, perhaps the most contentious is the five-year grandfathering of existing share classes that charge in excess of 25 basis points.
U.S. stocks rose the most in almost two months as better-than-estimated growth in American and Chinese manufacturing bolstered confidence in the global economic recovery.
The next few rounds of corporate earnings reports are going to create some investment opportunities for anyone with the “guts to take on some risk,” according to Jeff Buetow, chief investment officer at Innealta Capital, a firm with $1.2 billion under management.
The Collection of the late chairman, president and CEO of A.G. Edwards & Sons in St. Louis will be sold this week at Christie's.
Although he quietly launched his own brokerage firm in St. Louis a year ago, Benjamin F. “Tad” Edwards IV — the great-great-grandson of Albert Gallatin Edwards, who founded A.G. Edwards Inc. in the 19th century — is moving right along with his expansion plans, having opened his first two branch offices in the past two months.
I thought the article “No profit in talking politics with clients” (Aug. 29) was spot-on.
Employers expect compliance with the health care reform law to account for nearly one-third of the projected 10% average increase next year in health benefit costs, but most are taking steps to keep that increase at or below 6% — a move that will cause many to lose grandfathered status, according to a survey by Mercer LLC.
Although it is common, and perfectly legal, for insurers to prune funds from their VA menus periodically, financial advisers say the practice is increasingly thwarting their ability to put clients in the best possible funds.
The top 50 largest registered investment advisory firms managed $127.2 billion as of the end of the second quarter — up a sizable 16% from the end of the second quarter in 2009.
Former Citigroup Inc. stockbroker Ralph Casbarro was fined $500 and received no prison sentence or probation for his involvement in a scheme to let day traders eavesdrop on internal conversations over brokers' “squawk boxes.”
Prudential Plc, the U.K.'s biggest insurer, promoted Mike Wells to chief executive officer of its U.S. division and appointed two new non-executive directors as it reorganizes the board after a failed takeover bid in Asia.
In the two months since sweeping financial reform legislation became law, the measure has failed to win over the vast majority of investment advisers. Others say they're just plain confused by it.
Attorneys also predict insurer's marketing of new VA will trigger lawsuits; 'half-baked solicitation'
The Securities Industry and Financial Markets Association wants to delay the effective date of any new standard of care that the Securities and Exchange Commission may adopt for brokers giving advice to retail investors.
It appears the SEC will be sorting through its mail for some time.
