The Hartford said it has reached a $115 million settlement with three states to resolve a bid rigging and market timing case.
Morgan Stanley’s retail brokerage unit ranked dead last in customer satisfaction for the second year in a row, according to a survey.
An NASD arbitration panel ordered Merrill Lynch to pay a former employee $1.6 million after he was fired because of his ethnicity.
As other countries reduce their corporate tax rates, the U.S. is becoming less competitive, according to the Treasury department.
The recent fallout in the market for subprime mortgages caused one prominent hedge fund index to revise some of its performance returns last week. Last Monday, the Credit Suisse/Tremont Hedge Fund Index reported that its index for fixed-income arbitrage gained 0.21% in June and 3.7% year-to-date.
The Vanguard Group Inc. is pushing advisers out of a popular class of shares, and some financial advisers and industry experts aren’t happy about the move.
Is the creation of a top-level suitability monitoring job by Allianz Life Insurance Company of North America a step forward in annuity marketing or a defensive position in response to a battery of lawsuits?
NEW YORK — Life isn’t fair. Just ask John Thain. Since becoming chief executive of the New York Stock Exchange in 2004, he has taken the former membership organization public, pushed it into bond and option trading, and merged it with Euronext NV of Amsterdam, Netherlands, Europe’s largest exchange group. Now he is being slammed by shareholders.
Financial advisers who prepare various tax-related documents for their clients will likely think twice before signing off on returns that include dubious or aggressive tax positions.
Russell Investment Group has begun to phase out the sale of managed accounts on its own platform.
With the Dow Jones Industrial Average closing above 14,000 for the first time last week, an increasing number of financial advisers are considering the merits of market timing.
After building businesses through fee-based brokerage accounts and mutual fund trail fees, many brokers are anxious about looming changes to these sources of revenue.
NEW YORK — Despite continued consolidation, the clearing industry in some ways is becoming more crowded, with increased competition for the clearing business of top independent-contractor broker-dealers.
NEW YORK — Asset managers are raking in plenty of business from baby boomers but are missing the boat when it comes to boomers’ children, according to a recent report from KPMG International.
SAN FRANCISCO — After achieving success in pilot cities, Fidelity Investments is taking its revamped referral program to Los Angeles, Manhattan and the New York suburbs, but with changes.
NEW YORK — A new tool on the Securities and Exchange Commission’s website that provides investors with a list of companies involved in countries designated as “state sponsors of terrorism” is raising eyebrows among lawyers and politicians.
NEW YORK — An increasing number of independent-contractor broker-dealers are doing business with more than one clearing partner, adding to the stiff competition among some clearing firms.
NEW YORK — Most clients’ collections are a labor of love and not a quest for investment returns, according to financial advisers with collector clients.
NEW YORK — Wholesalers seeking an adviser’s good graces should forget the freebies and concentrate on developing solution-oriented consultative relationships.
The Senate opened an investigation into insurers that use suspect tactics when dealing with seniors.
