Last week's layoffs and consolidation of key areas of operation at the three broker-dealers of the AIG Advisor Group only add to the confusion and uncertainty surrounding the network's future and the fate of its more than 6,000 representatives and financial advisers, sources said.
The Charles Schwab Corp. has scheduled a webcast Thursday to brief registered investment advisers on its revised plans to wind down custody of alternative investments.
College may be a great place to learn about the investment business, but professionals could learn a thing or two from a group of 20 students at Houston's Rice University.
As part of a massive overhaul of its U.S. wealth management business, UBS AG is set to shed up to 2,000 jobs, shrink its regional operations and consolidate a number of branches here over the next several months.
April is National Financial Literacy Month, and it couldn't arrive at a better time for Americans who can't answer the most basic questions concerning personal finance.
The Charles Schwab Corp. reported better-than-expected first-quarter earnings last week, but buried in the numbers were signs that the headlong growth of the independent-adviser community may be waning, according to some analysts.
Insurance companies that have been eliminated from the TARP pool are running up against a new obstacle: financial advisers who are reconsidering whether they want to do business with them.
Several Braintree, Mass.-based firms filed suit yesterday in federal district court charging a Citigroup subsidiary with fraudulently selling auction rate securities while the firm was under investigation.
Despite a report by the Federal Reserve Board that found five out of 12 of its banking districts reporting a moderation in the pace of economic decline, many experts aren’t ready to predict the beginning of a recovery.
European stock markets rose today, with Wall Street expected to open higher, following better than expected earnings from U.S. banking giant Citigroup Inc. and General Electric Corp.
Three broker-dealers in the ING Advisors Network are facing another round of strategic reviews that could lead to their sale, an ING spokesman said this morning.
Citigroup Inc. Chief Executive Vikram Pandit put his credibility on the line last month when he wrote a memo saying the bank, after five consecutive quarters of losses, at last was profitable. It turns out that depends on which definition of “profit” is used.
Fidelity Investments, responding to what it called continuing challenges as the recession lingers, told employees in all but its lowest-echelon bonus pool that they will not get merit increases this year.
The number of newly laid-off Americans requesting unemployment insurance benefits fell last week, a sign that job cuts could be easing.
The court-appointed receiver for the Stanford Group Company of Houston yesterday filed suit against 66 Stanford brokers seeking to return of more than $40 million in sales commissions and upfront loans.
Stocks are slipping following a Philadelphia Federal Reserve report that regional manufacturing shrank again in April.
JPMorgan Chase said today it earned $2.14 billion for the first quarter, thanks to rising deposits and lower borrowing rates. The profit was 10 percent lower than last year, but better than expected.
The economic meltdown many countries are experiencing is likely to last longer than typical recessions and be followed by a weaker than average recovery, the International Monetary Fund said today.
Michigan regulators say brokerage firms Citigroup Inc. and Wachovia Corp. have paid $2.37 million to the state after an investigation into the sale of auction rate securities.
