Although affluent and millionaire investors may be more optimistic about the economy, they are still not confident about the stock market, according to a survey released today by Phoenix Marketing International of Rhinebeck, N.Y.
T. Rowe Price Group Inc..'s second-quarter profits dropped 38% in the second quarter, in large part due to investment-advisory revenue. The Baltimore-based firm did, however, beat Wall Street expectations.
The Hartford (Conn.) Financial Services Group Inc. said that it has slashed 270 jobs in its investment products division, eliminating positions in its Planco LLC unit.
Financial adviser Ameriprise Financial Inc.'s second-quarter profit dropped 58 percent as it dealt with the fallout from a weak stock market, but results still managed to beat expectations.
Swiss bank Credit Suisse Group today reported a 29 percent increase in second quarter net profit after a strong performance in its investment unit drove up core revenues.
Key regulators on today broke with the Obama administration, reaffirming their belief that some new powers to monitor big institutions against financial threats should go to an interagency council not the Federal Reserve.
CME Group Inc. said today its second-quarter profit jumped 10% due to the company's expanding operations. The exchange operator's profit beat analysts' expectations.
Fifth Third Bancorp today posted a profit for the second quarter because of a $1.1 billion gain from the sale of a controlling interest in its processing business.
PNC Financial Services Group Inc. says its second-quarter profit dropped 87 percent largely because of an FDIC assessment and the continued cost of integrating National City Corp. into its operation.
Investors celebrated news of another jump in home sales by propelling the Dow Jones industrials to their first close above 9,000 since January.
The government says the number of newly laid-off workers seeking jobless benefits rose last week, though the report was distorted by the timing of auto plant shutdowns.
Veteran recruiter Danny Sarch kicks off his exclusive <i>InvestmentNews</i> blog by debunking what passes for conventional wisdom in the world of broker and adviser hiring.
Certified public accountants who practice in New York — even if they are licensed in other states — will have to register with the New York State Education Department Office of the Professions when a new law goes into effect July 26.
Wells Fargo has joined other big banks in reporting significant second-quarter results, with a 47 percent rise in profit helped by its acquisition of Charlotte, N.C.,-based Wachovia Corp.
Bank holding companies reaped a record $734.5 million in annuity fee income during the first quarter, according to data from Michael White Associates.
Morgan Stanley says its net loss after payment of preferred dividends was $1.26 billion, or $1.10 per share, compared with earnings of $1.06 billion, or $1.02 per share, a year earlier.
Second-quarter profit plunged 76 percent at U.S. Bancorp as credit costs rose and it repaid a government loan. But the results still beat Wall Street expectations as net revenue hit a quarterly record and the stock rose nearly 4 percent today.
Next Financial Group Inc. of Houston was fined $1 million today by the Financial Industry Regulatory Authority Inc. for failures to supervise its network of some 130 branch managers, also known as OSJs in the independent-contractor-broker-dealer industry.
Concerns that a new consumer watchdog agency proposed by the Obama administration could play a role in overseeing retirement plan products are unfounded, Rep. Barney Frank, D-Mass., said today at a press conference on Capitol Hill.
If the market decline of the past year or so has taught the investing public anything, it's that professional investment advice — whether from top Wall Street gurus, mutual fund managers or financial advisers — doesn't ensure success.
