First Allied Securities Inc., Janney Montgomery Scott LLC and Raymond James Financial Inc. are among a number of broker-dealers preparing for a spike in financial advisers' use of firm-sponsored, fee-based money management programs if brokers are to be held to a fiduciary standard of care.
Looking to diversify and raise cash to pay taxes, big-producing and long-tenured advisers affiliated with LPL dumped shares and cashed out during the company's initial public offering this month.
Voter backlash could preserve indie reps' employment status
The American Funds Growth Fund of America (AGTHX), Pacific Investment Management Co. LLC's Total Return Fund (PTTAX) and American Funds' EuroPacific Growth Fund (AEPGX) are the three most popular mutual funds in the 401(k) market, according to research being released today.
Lawsuit claims bank and HSBC placed large orders, then withdrew them
Most registered investment advisers had a solid 2010 — they expanded their businesses, added clients and were even able to bump up their budgets a bit. Their feelings for the future, however, are not quite as fond.
A proposal by Finra to develop a qualifying test for investment advisers has received a cool reception from adviser groups, which claim that it is part a continuing campaign by the regulator to broaden its powers
Things are looking decidedly gloomy once again for securities firms. Meredith Whitney predicts banks will pay out puny bonuses for 2010, then start laying off tens of thousands of workers.
Another small broker-dealer is closing its doors due to not having enough capital on hand to meet industry rules to remain open for business — <a href =http://www.investmentnews.com/apps/pbcs.dll/section?category=specialreporttemplate&issuedate=20100616&sid=bddown>at least the seventh B-D to shut down this year</a>.
Business groups, Republicans vow to dismantle the provision, piece by piece
The number of arbitration claims filed with the Financial Industry Regulatory Authority Inc. seeking repayment of forgivable loans from brokers who quit has more than doubled in the past two years.
The Securities and Exchange Commission is holding off forming several departments required under the Dodd-Frank financial reform law
When it comes to slimming budgetary excesses, Americans apparently don't subscribe to 'no pain, no gain'
U.S. financial regulators, working to secure funding needed to implement new responsibilities mandated by the Dodd-Frank Act, are in line to be among the few agencies to benefit from the year's final congressional spending measure.
Who will be the movers and shakers affecting the financial services industry in 2011?
A leader of Republican efforts to cut government spending and tackle the federal deficit indicated Thursday that he embraces the idea of cutting so-called tax expenditures.
BAM Advisor Services LLC, a turnkey asset management program, announced today that it is buying Advisors Access, a provider of 401(k) plans, from Capital Directions LLC, an advisory firm.
The Financial Industry Regulatory Authority is revamping how it scans for abuses such as insider trading, responding to increased fragmentation of markets, Chief Executive Officer Richard Ketchum said today.
