The nation's largest brokerage firm will buy securities held by 30,000 clients.
Marsh & McLennan Cos. of New York reported that its second quarter profit fell 63%to $65 million, or 13 cents per share.
Falling oil prices and a recovering stock market have halted the precipitous drop in consumer confidence prevalent throughout 2008, according to new data.
Twelve finalists for the second annual Community Leadership Awards have been named.
The Securities and Exchange Commission has announced a “preliminary settlement” with Citigroup.
The Massachusetts pension board fired five managers, including Legg Mason Capital Management.
Prudential Financial yesterday agreed to settle allegations from the SEC that it used reinsurance contracts to overstate its income by more than $200 million.
The European Central Bank — the central bank for the Eurozone currency area — today decided to leave its three key benchmark interest rates unchanged.
In response to the credit crisis, a group of financial industry executives unveiled a plan today to improve risk management.
Freddie Mac of McLean, Va., today reported a second-quarter loss of $821 million, a decline of $1.63 per diluted share.
Mario Gabelli plans to raise $200 million to buy a financial services, media or telecommunications company.
Samuel Israel III, founder of Bayou Group LLC, pled guilty to charges related to his attempts to jump bail and flee.
Ameriprise Financial Inc. has made a splash in the roiling M&A acquisitions market for independent broker-dealers.
Net income at the Société Générale slipped to $1 billion from $2.36 billion in the 2007 second quarter.
A number of Eaton Vance's closed-end funds will redeem approximately $176 million in ARPS.
With operational costs growing and financial advisers in short supply, the demand for talent has put the value of young financial planners at a premium, according to industry guru Mark Tibergien.
Personal spending increased 0.8% in June, marking the steepest one-month gain since a 1% increase in February 1981.
Tax loss harvesting and defensive portfolios have been the way to go for financial advisers who rely on separately managed accounts — particularly during rocky equity markets.
Many advisers who have been involved in arbitration cases are welcoming a move to give investors the option of having all-public arbitration panels.
As fallout from the mortgage crisis leads to tighter restrictions on lending, some financial advisers are finding opportunities to fill a void for their clients by entering the lending business.
