The SEC is looking at possible problems involving revenue sharing payments made by funds of funds.
In an attempt to save a semblance of his family’s broker-dealer, Scott Brooks, scion of the founder of Brookstreet Securities Corp., last Thursday jumped to Wedbush Morgan Securities Inc. and then immediately invited Brookstreet’s 500 affiliated representatives to join him.
Bank sales of variable annuities that invest in mutual funds continue to grow but are outpaced consistently by those of mutual funds. That’s a function of periodic adverse publicity combined with compliance hassles, observers say.
In an about-face, Schwab Institutional has reconciled with a former technology partner in an effort to upgrade its customer relationship management tool for financial advisers.
WASHINGTON — Summer is about beaches, barbecues and long rounds of golf. But even sun lovers must come indoors eventually, and one fund manager is betting that many will be spending the hazy days of summer in front of their Nintendo Wiis and Sony PlayStation 3s.
In a comfortable Colonial-era tavern in Rhode Island last Tuesday, David L. Ullom dished out generous portions of retirement advice — along with a free meal of chicken, mashed potatoes and summer squash.
The college savings plan industry is closely tracking a class action filed in Illinois last month that could help open the legal floodgates for states that use tax incentives to induce residents to invest in their own Section 529 programs.
NEW YORK — Recent changes in management at independent-contractor broker-dealer National Planning Corp. and National Planning Holdings Inc., its broker-dealer network, have some of its affiliated advisers concerned, while others accept the changes as part of the business.
NEW YORK — After receiving suggestions from financial professionals, the Social Security Administration has designated a section of its website specifically for advisers.
OTTAWA — In a confusing compromise, federal Finance Minister Jim Flaherty and his peers from the provinces and territories agreed last Tuesday that the feds would set up a panel to study the creation of a single Canadian securities regulator.
NEW YORK — Advisers may want to exercise some tough love when their clients approach them about going back to school for an advanced degree.
SAN FRANCISCO — The U.S. economy has some shaky elements, but Federal Reserve Board Chairman Ben S. Bernanke’s track record still is rock solid, according to financial advisers, chief economists and other executives in the investments industry.
BOSTON — A San Francisco-based company that says it can help mutual funds cut costs and boost returns through better management of investor cash flows has won its biggest-name client yet — OppenheimerFunds Inc. of New York, the eighth-largest U.S. fund group.
WASHINGTON — Disclosures of 12(b)-1 fees should be made clearer and easier to decipher, but the fees themselves should not be abolished, officials from the mutual fund and brokerage industries said at a Securities and Exchange Commission round table last week.
CHICAGO — Data gathered by Boston-based research firm Cerulli Associates Inc. confirm what most observers have long suspected: Fidelity Investments is the nation’s individual-retirement-account powerhouse.
Scott Brooks has jumped from Brookstreet to Wedbush Morgan and has asked Brookstreet's reps to join him.
H & R Block’s continuing struggles in its mortgage lending unit put a drag on fourth-quarter earnings.
A.G. Edwards today reported first-quarter gains in net revenue and earnings, buoyed by gains in client assets and fee-based accounts.
Treasury Secretary Henry Paulson will propose an anti-money laundering framework for small banks tomorrow, The Wall Street Journal said.
