RBC Correspondent and Advisor Services yesterday announced the addition of four senior-level relationship managers whose jobs are to consult with RBC's broker-dealer correspondents and RIA firms at a strategic level.
Despite a recession and uneven economic recovery over the last year, the investment advice industry has grown — both in the number of practitioners and the amount of money they guide, according to a study released Wednesday.
High anxiety abounds as economy, markets stall; detailing the risks of risk-aversion
Bank of America Corp., the largest U.S. lender, reported a $7.3 billion loss tied to new rules on consumer accounts and credit cards and said it's fighting demands for the lender to buy back allegedly faulty loans.
Defined-contribution managers bounced back a bit by year-end 2009 from the morose markets of 2008 as assets under management rose 19.7%
Chalk up another hard-earned lesson from the financial crisis: Investors in limited partnerships, the structure of choice for most alternative investments, discovered that giving up liquidity in exchange for higher returns wasn't such a good idea after all.
While retirement industry leaders last week pressed officials from the Labor and Treasury departments to make it easier to include annuities in 401(k) plans, many investment firms and advisers said they aren't pinning their hopes on the annuity proposal and are looking for income solutions that don't involve insurance.
Fearing that Japan-like deflation may be coming to the United States, some money managers and financial advisers are building portfolios that can withstand falling prices and contracting credit.
Through its recently announced purchase of National Retirement Partners Inc., LPL Investment Holdings Inc. is set to enter the demanding and competitive market for smaller to midsize retirement plans.
Five years before a series of Medical Capital Holdings Inc. private placements disintegrated — wiping out $1.1 billion in investor cash — securities regulators were already concerned about the lack of audited financial information for the deals.
In a highly unusual legal maneuver in its battle with Massachusetts securities regulators, Securities America Inc. is requesting that other broker-dealers that sold the private-placement investments of Medical Capital Holdings be issued subpoenas — a move designed demonstrate that Securities America met industry standards when 400 of its affiliated brokers sold close to $700 million of now worthless MedCap notes to clients.
RBC Wealth Management unit will pay $690,000 to resolve a brokerage regulator's claims that a U.S. unit sold unsuitable financial products to elderly clients and others with modest net worth.
Citigroup Inc., the bank 12 percent- owned by U.S. taxpayers, said profit surged, beating analysts' estimates as the company reduced loan-loss reserves by $1.99 billion.
A government report revealed that exchange-traded funds got hit worse than any group of securities in the market plunge of May 6. How bad was it? Close to 160 ETFs temporarily lost all their value. Now, regulators are looking at ways to safeguard these 'new derivatives.'
What Lloyd Blankfein failed to tell Sen. Levin: Investors place bets on risky securities all the time. Why do they do this? Read the headline again.
Hiring marks one of the first since Peter Kraus replaced Lewis A. Sanders as CEO in December 2008
Host of marquee names back call for applying fiduciary standard to all advisers
Ask J. Christopher Donahue what his biggest business fear is these days, and the Federated Investors Inc. president and chief executive talks about regulatory uncertainty and 'stray bullets.'
JPMorgan Chase & Co. posted strong earnings in third quarter, and it also had a successful quarter — and year — recruiting financial advisers
