The independent broker-dealer industry took a giant step backward last year, with the largest 25 firms collectively reporting a 10.3% drop in gross revenue.
As the stock market was climbing to its historical peak in late summer 2007, GunnAllen Financial Inc. executives told people that the firm was working to put the worst elements from its brief, intense past of breakneck growth behind it.
The biggest-producing branch of dead-in-the water GunnAllen Financial Inc. is heading to a new independent broker-dealer, Aegis Capital Corp.
Embattled firm said to be in net capital violation after eleventh-hour effort failed to raise fresh funds
After watching the fall of GunnAllen Financial Inc. become official this morning, the firm's founders —Donald James “Jay” Gunn and Richard Allen Frueh —are apparently moving to a rival broker-dealer.
Massachusetts widens the net in its ongoing probe of private placements gone bad.
Right now, defections to other firms aren't that common. But the big Wall Street firms could soon see an exodus of top-level brokers
But new study by Moody's finds that the financial stability of U.S. carriers trails that of rivals in Asia
Stocks got carried away about the recovery. That at least is one interpretation of two curious market moves so far this earnings season. Intel Corp. blew away expectations Thursday. Ditto for JPMorgan Chase & Co. the next day.
Large adviser teams at wirehouses control, on average, 80% of their firm's assets, and about a third of the industry's total adviser-managed assets, according to Cerulli Associates Inc.
Finra expects to bring cases against brokerage firms involved in selling private-placement offerings next year, its head of enforcement said last week.
Fidelity Investments introduced a free online Roth IRA conversion calculator Tuesday for its independent registered investment advisers and the broker-dealer clients that clear through National Financial Services LLC.
Capitalism is still alive and well, say the world's two richest men, despite lingering shocks from the longest, deepest recession since the Great Depression.
In retirement, your paycheck might go away, but taxes won't.
With the upcoming changes to the Roth IRA conversion rules, financial advisers might think that clients would be banging down their doors to convert their traditional individual retirement accounts.
Billionaire investor Warren Buffett says the economy appears to have leveled off at the bottom of the recession over the summer, but Berkshire Hathaway's CEO still isn't seeing much improvement.
Although Fidelity executives last week quelled rumors about the potential departure of president Rodger Lawson, observers noted that the larger question about the firm is who will take over when chairman and chief executive Edward C. “Ned” Johnson III, 79, retires.
In an SEC filing, Mr. Greenberg's investment vehicle, Zug, Switzerland-based Starr International Co. Inc., said it would sell the shares to UBS Securities LLC during the next three years.
Wells Fargo is seeing early signs of improvement in its lending portfolios as it reports an unexpected fourth-quarter profit.
Strong support systems — along with a mentoring culture and time management training — are just a couple of the factors that keep life insurance producers' feet planted at one company, according to a report from LIMRA International Inc.
