John Hancock Funds LLC is looking to double the size of its sales team targeting registered investment advisers to 12, according to Keith Hartstein, the company's president and CEO.
Investors cooled their buying of stocks and commodities, pausing from a surge that's carried major stock indexes to their highest levels in more than a year.
The latest data showing unemployment now at its highest level in 26 years translates into a challenge for stock pickers over the next several years, according to Ann Miletti, who manages more than $2 billion for the Wells Fargo Funds Management Group.
Wealthy investors know that tax increases are in their future.
Broadridge Financial Solutions Inc., the brokerage services firm spun off by Automatic Data Processing Inc., is selling its securities clearing business to Penson Worldwide Inc. and its Penson Financial Services Inc. subsidiary.
After months of pursuit, Donald Marron finally has landed a broker-dealer network, and the former chairman and chief executive of PaineWebber Group Inc. can't think more highly of its potential.
Upset by what they see as government bailouts of banks that still aren't lending money, several small broker-dealers are floating the idea of getting government money to smaller firms.
The lousy economy hasn't been bad for everyone.
After a series of ratings downgrades this year halted sales of its life insurance and annuity products by major outside distributors, The Phoenix Cos. Inc. has created a distribution company of its own, Saybrus Partners Inc., and has struck a consulting agreement with Edward D. Jones & Co. LP.
State Street Corp. said Tuesday that it will buy the securities services business of Italian banking group Intesa Sanpaolo for about $1.87 billion in cash.
President Barack Obama signed a $24 billion economic stimulus bill into law Friday, giving tax incentives to prospective homebuyers and additional jobless benefits to those idled by the business slump.
Alternative asset manager Fortress Investment Group LLC said Friday its third-quarter loss deepened as it cut expenses and recorded a big gain on affiliate investments.
President Barack Obama says new figures showing national unemployment has hit the double-digit mark are regretful and says he's working hard to restore the struggling economy.
Oil prices lost over $2 to stumble below $78 a barrel Friday as rising U.S. unemployment figures renewed concerns about the economic recovery and consumer demand.
Stocks rose early Friday as investors shrugged off news that more jobs were lost in October than expected, pushing the unemployment rate above 10 percent for the first time since 1983.
AIG said Friday it was profitable for the second straight quarter as its core insurance operations continue to stabilize after the company's bailout by the government last year.
The unemployment rate has surpassed 10 percent for the first time since 1983. Nearly 16 million people can't find jobs and employers cut a net total of 190,000 jobs last month, the Labor Department says.
