A year after taking over retail at Morgan Stanley — amid much skepticism — James Gorman has made believers out of most of the firm’s troops.
Charles R. Schwab last week called the fundamental indexes underlying his company’s three newest mutual funds “a better mousetrap,” but The Vanguard Group Inc. and Barclays Global Investors smell a rat.
Brokers who left United Securities Alliance Inc. before its March 1 acquisition by Royal Alliance Associates Inc. received a letter from United’s lawyers last month that contained a surprise: They owe United $5,000.
Peter Scaturro’s impending departure as chief executive of U.S. Trust has left Bank of America Corp., the venerable wealth manager’s prospective new owner, with a big mess on its hands.
Fee income from variable and fixed annuities, and mutual funds, sold by banks declined by 0.6% last year to $19.33 billion, from $19.46 billion in 2005, according to a recent study.
NEW YORK — Raymond James & Associates Inc. recruited 36 registered representatives during the first quarter, compared with the 43 reps hired during the year-earlier period.
OTTAWA — The gambit by the Canadian Securities Administrators to get Ontario involved in a new, improved passport system of regulation led to a stalemate when the Ontario Securities Commission said: Nothing doing.
CHICAGO — A bill that would extend to domes- tic partners the preferred tax treatment enjoyed by married couples in employer-sponsored health-care plans is attracting attention from financial advisers.
SAN FRANCISCO — In selling one of its subsidiaries to a California bank, Lydian Trust Co. is preparing to bolster its presence on its home turf.
NEW YORK — Financial advisers can safely increase their clients’ retirement income by 50% or more by structuring withdrawals differently, according to a certified public accountant who specializes in retirement income planning.
NEW YORK — As long as the stock market keeps rising, and baby boomers keep getting older, variable annuity sales should continue to be robust, industry observers say.
Industry participants were unhappy to learn that repeal will be an option as the Securities and Exchange Commission takes a hard look at the 12(b)-1 rule, which allows mutual funds to generate billions of dollars in fees.
The stock market has remained unsettled since the big plunge of Feb. 27, but many financial advisers report few worries, attributing their well-being to the risk management inoculation they have given their client portfolios.
By now, the merits of asset and stock diversification in a retirement portfolio are well established, but what about tax diversification?
Passive investing is gaining favor among wealth managers, according to bankers, vendors and industry consultants.
The U.S. Court of Appeals for the District of Columbia Circuit on Friday overturned the Securities and Exchange Commission’s broker-dealer exemption rule in a 2-1 decision.
Congressional members on both sides of the aisle are looking at using the alternative minimum tax debate to lead the way to a plan for tax simplification.
The structured-products industry is taking its message directly to consumers with coordinated marketing and educational efforts designed to demystify the often-complex, intermediary-sold alternative investments.
NASD will put increasing emphasis on “principles based” regulation rather than “one size fits all” rulemaking, even as it concedes that such a move could confuse many in the brokerage industry.
The profile of “green’’ investors has changed. They aren’t just mature demonstrators of the 1960s with extra cash in their accounts.
