The stock market's downturn is reshaping the retail-brokerage industry, with disgruntled clients replacing wirehouse brokers with independent representatives and financial advisers.
Some smaller broker-dealers are weathering tough times by diversifying into the institutional side of the business.
The fantastic growth among independent broker-dealers came skidding to a halt last year, but the results were far from disastrous — with some firms taking advantage of recruiting opportunities despite the revenue declines.
Two legal cases that will be decided by courts this year may significantly affect the mutual fund and investment advisory industries.
There is a crisis in defined contribution retirement plans. In addition to devastating market losses, employers are ceasing their matches.
Considering the economy, the state of the stock market and the public's perception of Wall Street, the immediate outlook for the independent-brokerage business — like most financial services businesses — is anything but glowing.
Brokers who are considering going independent are finding a bright spot amid the gloom: The cost of going it alone is down sharply.
With regulation of the financial planning industry all but a certainty, a coalition of industry groups is cobbling together a proposal to make the Certified Financial Planner Board of Standards Inc. the rule setter and enforcer for the nation's hundreds of thousands of unregulated planners.
The term "bailout" has taken on new meaning for financial advisers as they devise ways to free clients from underperforming variable annuities, but the path to freedom is paved with possible tax complications and worries about account churning.
The idea to offer free financial planning to unemployed professionals came to Robert Fragasso when he was counseling a man who was on the verge of losing his house.
Banning short sales not only doesn't calm markets, it makes them choppier, a new study has found.
Thomas Ruggie, a Florida-based investment adviser, thinks that he has identified a new target for his investment management and planning services: people who win personal-injury-lawsuit settlements, and their lawyers.
<i>InvestmentNews</i> has entered into a partnership with Moss Adams LLP to continue the research and studies conducted and produced by Moss Adams since 1992 on independent financial advisory firms.
State securities officials are lining up against congressional proposals that would create a systemic risk regulator for the financial industry, fearing that it will pre-empt their power.
Running a successful family financial advisory business is much tougher than the smiling portraits posted on many firm's websites would lead a client or prospect to believe.
The initial public offering market appears to be awakening from its slumber.
President Obama today signed into law a bill aimed at strengthening oversight of the $787 billion financial rescue plan.
Even when crafting permanent gifts, advisers can include clauses that allow clients to get out of the deal if the charity strays from its initial cause.
The recent fantastic growth among independent broker-dealers came skidding to a halt last year, but the results were far from disastrous for many firms.
American International Group Inc. of New York has appointed Matthew E. Winter vice chairman, transition planning and administration, replacing Richard H. Booth, who retired.
