Ameriprise Financial Services Inc. has agreed to pay $17.3 million to settle charges that it received nearly $31 million in undisclosed compensation for selling its brokerage customers real estate investment trusts between 2000 and 2004, according to the Securities and Exchange Commission.
Financial firms have bolstered their efforts to help financial advisers connect with minority clients, who typically aren't saving significantly for retirement.
Financial advisers are overwhelmingly in favor of adopting a uniform fiduciary standard for investment advisers and broker-dealers alike, and they also think that the industry should be governed by a single regulatory body.
Financial advisers are troubled by an administration proposal that would allow the Securities and Exchange Commission to ban commissions and take other sweeping actions regarding their fees.
Competition among clearing firms and custodians to woo advisers with technology ratcheted up a notch last week when National Financial Services LLC said that it had integrated the Thomson One wealth management platform into its Streetscape broker workstation.
Two House committees today approved the Affordable Health Choices Act, a health care reform bill that would expand health insurance to 97% of Americans.
'Tis the season for rolling out integrated adviser desktops.
Going beyond their past call for a professional oversight board for financial planners, the Financial Planning Coalition today will ask Congress to bring under one organizational umbrella all advisers who provide financial planning services.
Wall Street's major trade group has declared its support for a new federal fiduciary standard for broker-dealers and investment advisers who provide personalized investment advice.
With the decline in the stock market over the last year, there is renewed interest in lifetime income guarantees for retirees. So, does it make sense to annuitize retirement money or roll the dice with market based returns?
Organizations representing investment advisers and consumers today called for Congress to ensure that fiduciary standards are not weakened as financial service regulatory reforms are enacted.
The Securities and Exchange Commission would gain more authority to make rules governing broker compensation under draft legislation sent by the Department of the Treasury to Capitol Hill Friday.
Financial advisers are overwhelmingly in favor of adopting a fiduciary standard for all advisers, and they also think that the industry should be governed by a single regulatory body.
An investment fiduciary's duty of loyalty demands that the investor's best interests guide the decision-making process.
Amid the economic downturn, 401(k) abuses by plan sponsors are on the rise.
Complain as they do about technology, most financial advisers don't realize how good they have it compared with advisers who work for family offices.
State regulators have an ally in the Obama administration.
The BRIC group — Brazil, Russia, India and China — for a number of years has functioned as a proxy for large developing markets with an attractive long-term return potential.
As the House Financial Services Committee this week begins to hash out plans to make President Obama's proposed consumer financial protection agency a reality, state-regulated investment advisers could find themselves under federal jurisdiction.
A bill to provide low-cost loans to unemployed homeowners with delinquent mortgages was introduced yesterday by Rep. Barney Frank, D.-Mass., chairman of the House Financial Services Committee.
