Securities America Inc. last week took the unusual step of asking its 1,800 reps and advisers to sign a “letter of support” to indicate their intention to remain at the firm — a development that some observers took to mean that a sale of the troubled broker-dealer could be imminent.
Two leaders of a group of senators trying to convert last year's presidential deficit commission recommendations into legislation plan to take a hard look at eliminating tax breaks which cost a total of $1.1 trillion annually.
The Treasury Department's calculation of revenues that are lost to tax-deferred retirement plans is flat out wrong, says an acturial group. They may be on to something.
RIA firms shouldn't expect the good times to last. After benefiting from strong equity markets in 2009 and 2010, registered investment advisory firms will be battling head winds for the next few years as they seek further growth, observers predict
Bailed-out insurer AIG should be broken up eventually because its two main businesses have “no strategic fit between them,” according to Harvey Golub, its former chairman
Bank of America Corp. won a court order temporarily blocking four former employees from using and sharing the bank's client records at their new employer, New York-based Dynasty Financial Partners.
Fidelity Investments is improving services for breakaway hybrid advisers who face bumps in setting up dual advisory and commission businesses, the fund giant announced today.
The last time U.S. bond prices were this low Dwight D. Eisenhower was in the White House. In fact, yields on Treasuries only need to rise slightly to put holders into the red.
Industry veteran ran Merrill Lynch's clearing service for seven years; most recently CEO of Century Securities Associates
The latest wrinkle in the world of exchange-traded funds is a fund that is a foreign company
If it wants to avoid potentially onerous new regulations and a slew of negative headlines, the life insurance industry must band together immediately and establish universally accepted guidelines for identifying deceased policyholders and disbursing benefits to beneficiaries
Ameriprise Financial Inc. last week put on the block one of the most prominent independent broker-dealers in the industry, its subsidiary Securities America Inc., but no clear buyer has emerged
LPL Financial will acquire Concord Capital Partners, the first acquisition for the independent broker-dealer since its parent company --LPL Investment Holdings-- went public in November.
Jackson National Life Insurance Co. has temporarily closed off access to the JNL/BlackRock Global Allocation fund option in the carrier's variable annuities.
Morgan Stanley has moved Sara Furber to lead a group that refers clients to its investment banking, retail brokerage and asset management divisions.
In addition to satisfying regulators, the wealth of information contained in revised ADV forms may be a gold mine of competitive intelligence
Although its wirehouse rivals are keeping their electronic drawbridges closed to social media, Morgan Stanley Smith Barney LLC last week became the first major Wall Street firm to allow its financial advisers to use popular networking websites
