As the Financial Industry Regulatory Authority Inc. begins its sixth year of existence, the perception of its relationship to the market it oversees has taken on new importance. Its self-description as an “independent regulator” has drawn new scrutiny in recent months, after legislation that would establish one or more self-regulatory organizations for investment advisers was introduced in the House. Finra is lobbying fiercely on behalf of the bill and covets the role of the adviser SRO.
A major law firm has pitched the Labor Department a program that would let broker-dealers and other service providers admit to and fix their fee disclosure errors without incurring the wrath of the agency.
Ladenburg Thalmann Financial Services Inc., which owns three sizable independent broker-dealers, stands to benefit from long term trends such as the increase in the number of Baby Boomers retiring and advisers leaving large financial institutions
Bank of America Merrill Lynch has named a new head of its Alternative Investments Group, as demand from its advisers for alternatives is expected to double assets over the next three to five years. Keith Glenfield, former chief operating officer of Global Wealth & Retirement Solutions, started in the new role this week.
If elected, Mitt Romney says he will cut out all investment taxes on the middle class. Great news for advisers, right? Right?
Pru to pay $615 million in cash for 700,000 life insurance contracts
Massachusetts has filed a complaint against a midsize adviser for allegedly misstating assets under management.
That best describes the underpinnings of middle-income Americans' financial decisions. And a new survey reveals just how much it's costing them.
Prudential Financial Inc.'s decision to cut off contributions into a slate of older variable annuities with attractive benefits has raised the ire of financial advisers, this time because they were given so little time to add money to the contracts.
Bows out of group LTC insurance; halted sales of individual coverage in March
June 28 is the day for advisers managing $25M-$90M to sign on for state oversight
