Bank of America Corp. settled a lawsuit filed by a broker who claimed the bank's Merrill Lynch & Co. unit discriminates against women through its partnership model.
More than half of investors are confused about who has fiduciary duty when providing financial advice, while more than 90% want fiduciary rules to apply to brokers and insurance agents, according to a survey released Wednesday.
President Barack Obama will call on Congress to pass new tax breaks that would allow businesses to write off 100 percent of their new capital investments through 2011, the latest in a series of proposals the White House is rolling out in hopes of showing action on the economy ahead of the November elections.
Fidelity Investments says it is seeing the average assets of its breakaway broker teams increasing.
Li Lu, the hedge-fund manager who helped Berkshire Hathaway Inc. find profits in China, may push Warren Buffett's investment company to make more deals outside the U.S. if he takes a role at the company.
The 50 largest registered investment advisory firms managed a total of $127.2 billion in discretionary assets as of the end of the second quarter, up an impressive 16% from a year earlier.
The Charles Schwab Corp.'s move into active ETF management with the acquisition of Windward Investment Management Inc., which was announced today, didn't come as a surprise to advisers, who gave it high marks.
Cold calling, as a method for bringing in new accounts, appears to be alive and well.
With their day-to-day business practices likely to change as a result of the new financial-reform law, broker-dealers are scrambling to assess their technology preparedness.
The prolonged economic crisis, weak equity markets and rock-bottom fixed-income returns should cause all who advise individuals on investing to reconsider the assumptions on which much of their advice is based.
New York Life Insurance Co. was the top seller of fixed annuities during the second quarter, with $1.74 billion in sales, according to Beacon Re-search Publications Inc.
For the forseeable future there will be no easy way to build a retirement nest egg, meaning investment advisers and their clients will have to work harder and use a wider range of tools to accomplish the task.
Congressional attempts to eradicate conflicts of interest from the Wall Street credit agencies' business model are headed in the right direction, to the benefit of all investors.
Morgan Stanley Smith Barney LLC has lost a $3 million producing team of veteran Smith Barney brokers to rival J.P. Morgan Securities LLC.
The Charles Schwab Corp. and Charles Goldman have agreed to meet with a private mediator next month to discuss the former executive vice president's demand for $736,000 in severance pay following his dismissal in 2008 as head of the firm's RIA business.
The reality of a sluggish, deflationary economy is sinking in among advisers.
Josh Kernan, who oversees sales of alternative investments to investment advisers and their clients at Charles Schwab Corp., is leaving the company after 16 years to start a new firm.
It was another tough year to be a financial adviser — or at least that seems to be one of the conclusions of The Charles Schwab Corp.'s RIA benchmarking study.
