In the second defection in a week, a top team at Morgan Keegan has jumped ship, this one landing at Morgan Stanley Smith Barney. Says one recruiter of the defections at the up-for-sale firm: "This may be the first sign of the exodus.”
More tribulations at UBS, as unauthorized trading has left the bank with a big hole in its balance sheet. How big? The company says the loss could reach $2B -- and may turn a third-quarter profit into a loss. Says one analyst: 'This could be a critical tipping point.'
Firings of Krawcheck, Price gives embattled CEO more breathing room to turn things around; 'in the line of fire'
Says brokerage told officials in Wisconsin it would take '15 Enrons' to sink $200M investment; CDOs went bust
Judge approves settlement; brokers with arbitration claims now can put matter behind them
USB CEO Oswald Gruebel today reiterated that the Swiss bank has no plans to unload its U.S. wealth management unit. That division, run by Robert McCann, saw pretax profits and adviser comp rise in the second quarter of the year.
Firms said to be on short list of acceptable buyers; PE outfit also thought to be lurking about
Package containing two CDs arrives at NY state tax facility -- minus the CDs; data included SSNs, names of investors in tax-exempt bonds
Asset manager aims to double sales through smaller broker-dealers; 'coverage gap'
Despite talk of possible purchase of Morgan Keegan, Taft says bank not eyeing 'transformational deals'
Silverman leaves on-the-block firm; second defection in June
Bank aims to attract clients by requiring lower minimums on investable assets than rivals
Morgan Stanley Smith Barney will let its nearly 18,000 financial advisers market themselves and share ideas with clients through LinkedIn and Twitter, which will allow for a 'a significant competitive advantage' according to one top exec.
Reactions to the Certified Financial Planner Board of Standards Inc.'s new requirements for ethics continuing-education programs have been mixed
Naysayers aside, the CFP's TV ad campaign, part of a new national public-awareness effort, is just the message the retirement-nervous need to see right now.
Pershing executives are warning about a bevy of new regulations and legislation that may blindside some B-Ds and RIAs
Independents are doing most of the deals; difficulty expanding business organically
But some say latest economic data not as bad as it seems; market mispricing could be buying opportunity
Meredith Whitney's at it again. The controversial analyst is now predicting a 'waterfall' of muni downgrades which will trigger a massive sell-off by insurers. If she's right, investors may be able to pick up some bargains in the process.
DC plan makes decisions for plan participants, nags them when they're not saving enough; Nobel laureate Merton one of the designers
