Clients would have to have a net worth of at least $1.5 million for investment advisers to charge them performance fees.
Wilmington Trust reported a second-quarter loss of $19.5 million on impairment charges and a securities loss.
Regulators raided the St. Louis headquarters of Wachovia seeking records related to the sale of auction rate securities.
Sen. Carl Levin today called for legislation that would make it easier to tax U.S. citizens who transfer assets to shelters.
The firm is being investigated as to whether its clients used offshore accounts to hide assets and avoid paying taxes.
JPMorgan Chase & Co. reported that its second-quarter earnings were 53% below last year’s levels.
Second-quarter profits edged up 1% at The Charles Schwab Corp. to $295 million, or 26 cents a share.
The CPI has risen 5% since June 2007, marking the highest year-over-year increase since the 5.3% jump between February 1990 and February 1991.
UBS plans to buy back up to $3.5 billion of its auction rate securities after it was accused of fraudulent practices.
State Street Corp. posted a 50% second-quarter earnings increase today while U.S Bancorp reported that profits dropped 18%.
The producer price index for June brought more bad news for the economy, posting an increase of 1.8% as inflation took its toll.
A downgrade by a Wachovia analyst sent American International Group shares tumbling to a 52-week low.
The euro reached a high of $1.6036 on the dollar today, its highest level since the currency debuted in January 1999.
Dow Jones and Brookfield Asset's indexes serve as benchmarks of companies that own infrastructure assets.
State insurance regulators are displeased with the Securities and Exchange Commission and state securities regulators about a proposal that would regulate equity index annuities as securities rather than as insurance products, and one state insurance regulator is meeting with SEC Chairman Christopher Cox this week to address those grievances.
Watching institutional investors achieve big gains in alternative investments has whet retail demand for mutual funds that incorporate alternative strategies.
On the heels of the stock market's worst June performance since 1930 and the official start of a bear market, financial advisers are calming clients' nerves and preparing them for more bad news.
While investors may want to make changes in the face of a volatile stock market, most financial advisers don't move assets around during challenging times.
The increasing popularity of exchange traded funds has led advisers to seek new ways of incorporating ETFs in client portfolios.
Distressed debt is about to have its day, according to some prominent investment managers.
