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INDUSTRY NEWS SEP 15, 2010
A salute to the CLA finalists

Many of us rarely step out of our rigid routines to reach out to others. As much as we want to volunteer our time, donate money or lend a helping hand, we often seem consumed by work, taking care of our families and getting through our daily lives.

By MFXFeeder
INDUSTRY NEWS SEP 15, 2010
A little deflation might not be so bad for market after all

Some analysts say that deflation's bad rap might be undeserved.

By Dan Jamieson
ALTERNATIVES SEP 15, 2010
UBS hires Morgan Stanley Smith Barney alternatives specialist

Jerry Pascucci, the chief investment officer for alternative investments at Morgan Stanley Smith Barney, is joining the U.S. wealth management unit of UBS AG to run alternatives for high-net-worth clients.

By Jed Horowitz
INDUSTRY NEWS SEP 15, 2010
Goldman's second quarter off 82%

Goldman Sachs Group Inc. said second-quarter profit dropped 82%, missing analysts' estimates on a slide in trading revenue five days after settling U.S. regulators' fraud allegations.

By Bloomberg
INDUSTRY NEWS SEP 15, 2010
TD Ameritrade income up 5.2% in quarter

TD Ameritrade Holding Corp., the third-largest retail brokerage by client assets, reported fiscal third-quarter profit that beat the average analyst estimate as customers traded more and added assets to their accounts.

By Bloomberg
INDUSTRY NEWS SEP 15, 2010
Adviser roll-up turns to private equity

SAN FRANCISCO — Hoping to attract some of the torrent of private-equity capital showering Wall Street, a financial adviser in suburban St. Louis is looking to bundle his brethren’s practices and sell them en masse in the private-equity market.

By Bloomberg
INDUSTRY NEWS SEP 14, 2010
39.6% tax on dividends? It's looking more and more likely

Current 15% rate due to expire this year; paygo rule 'could make it virtually impossible' for Congress to cap rate at 20%

By Bloomberg
INDUSTRY NEWS SEP 14, 2010
Fidelity ordered to pay $110K to elderly client with Parkinson's

A Finra arbitration panel last week awarded a client of Fidelity Brokerages Services LLC $110,000 because her account got lost in the shuffle at the mutual fund and brokerage giant.

By Bloomberg
INDUSTRY NEWS SEP 14, 2010
Welcome back: Investors seen returning to stocks

Trading pattern indicates retail buyers may be starting to buy again; 'temporary dislocations'

By Bloomberg
Dow at 13,000 by June? Famed analyst makes bold prediction
INDUSTRY NEWS SEP 14, 2010
Dow at 13,000 by June? Famed analyst makes bold prediction

Legendary technical analyst Ralph Acampora, who came out of retirement last year, sees good times ahead for stock investors. Bondholders? That's a different story.

By Bloomberg
RIAS SEP 14, 2010
Most investors think brokers are fiduciaries, survey says

More than half of investors are confused about who has fiduciary duty when providing financial advice, while more than 90% want fiduciary rules to apply to brokers and insurance agents, according to a survey released Wednesday.

By Mark Schoeff Jr.
INDUSTRY NEWS SEP 14, 2010
Merrill: Investors are 'index hugging' and moving to cash

Investors doubled their holdings in cash this month to the highest levels in more than a year as money managers remain divided on the outlook for the global economy, a BofA Merrill Lynch Global Research survey showed.

By Bloomberg
INDUSTRY NEWS SEP 14, 2010
Execs from tainted firms have little trouble finding new jobs

Many get new gigs soon after their B-Ds are shut down; 'pitch their tent acrosss the street'

By Bloomberg
Registered rep gets 68 months in jail for stealing $1M from elderly
REGULATION AND LEGISLATION SEP 14, 2010
Registered rep gets 68 months in jail for stealing $1M from elderly

A New Jersey financial adviser who admitted stealing more than $1 million from eight elderly clients has been sentenced to 68 months in federal prison.

By InvestmentNews Staff
Obama to back more tax breaks?
RIAS SEP 14, 2010
Obama to back more tax breaks?

President Barack Obama will call on Congress to pass new tax breaks that would allow businesses to write off 100 percent of their new capital investments through 2011, the latest in a series of proposals the White House is rolling out in hopes of showing action on the economy ahead of the November elections.

By Associated Press
REGULATION AND LEGISLATION SEP 14, 2010
Stricter rules may be needed for high-frequency traders: Schapiro

Flash crash exposed vulnerabilities in U.S. stock trading system, SEC's chairman says

By Jed Horowitz
RIAS SEP 14, 2010
Fidelity: Breakaway broker assets on the rise

Fidelity Investments says it is seeing the average assets of its breakaway broker teams increasing.

By Dan Jamieson
RETIREMENT PLANNING SEP 14, 2010
Fidelity launches charitable-planning service

Fidelity Investments has introduced a priority services group for high-net-worth investors in its Charitable Gift Fund.

By Jessica Toonkel
RETIREMENT PLANNING SEP 14, 2010
The fight over 401(k) advice: Will anyone win?

In trying to clarify who can give advice to 401(k) plan participants and under what circumstances, the Department of Labor appears to have antagonized just about everybody.

By Robert Steyer
OPINION SEP 14, 2010
Knee-jerk reaction to market's free fall should be avoided

The Securities and Exchange Commission and the various stock exchanges must resist the temptation to react impulsively to the market meltdown that occurred May 6.

By MFXFeeder