Results for "edward jones"

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Edward Jones doesn't sell indexed annuities, bucking broker-dealer trend

May 6, 2019

Edward Jones has taken a contrarian stance on indexed annuities, declining to allow its brokers to sell the annuity products even though its peers are doing so and the products are increasingly popular industrywide. The St. Louis-based brokerage,...

Variable annuity sales up big among independent broker-dealers

April 19, 2019

Independent broker-dealers saw big growth in their sales of variable annuities last year, even as other distribution channels such as the wirehouses and other large national brokerage houses saw sales stay flat or decline. The boost appears...

No CEO and no plan in sight for Wells Fargo

April 3, 2019

For the past 30 months, the investor case for keeping Wells Fargo & Co. veteran Tim Sloan as chief executive officer was his steady hand. His abrupt departure last week is bringing more turmoil instead. The bank, already under fire from regulators...

Choosing between a retroactive lump sum and a bigger monthly Social Security benefit

March 19, 2019

Jim Perry, a financial adviser with Edward Jones in Coral Gables, Fla., was surprised to learn that retirees who claim Social Security benefits after their full retirement age are eligible for up to six months of retroactive benefits paid in...

Morgan Stanley threatens to pull out of Nevada over state's fiduciary rule

March 13, 2019

Morgan Stanley has threatened to cease offering brokerage services in Nevada as a result of the state's proposed fiduciary rule. In a recent comment letter about the advice rule, the wirehouse said that parts of it were "far too narrow" for...

How to achieve a client-centric practice

March 13, 2019

Amazon promises a world where algorithms know what products we want before we do. Dog food, a new couch, toothpaste — they'll arrive at our homes with no effort on our part. This model has the power to change how we think about the experience...

Team managing $381 million leaves Wells Fargo for Baird

March 4, 2019

The Schrieber Group, a team of four advisers and three staff members managing $381 million, has left Wells Fargo Advisors in Elgin, Ill., and joined Baird. The team is led by Robert Schrieber, who began his career at Edward Jones in 1988. He...

New diversity push at Edward Jones stirs up controversy

February 1, 2019

An initiative by Edward Jones to help women and minority advisers jumpstart their careers is being praised by diversity advocates, but criticized internally for being discriminatory. In an internal document sent to brokers last month and obtained...

LPL Financial sues broker it fired for taking $292,000 that belonged to his ex-wife

January 24, 2019

LPL Financial is suing a broker it fired last summer after a dispute surfaced between the broker and his ex-wife over the disposition of funds in their joint brokerage accounts. LPL on Tuesday sued the ex-broker, Christopher Lossing, in U.S....

Finra arbitration panel awards $2 million to former Edward Jones rep in discrimination claim

January 14, 2019

A former Edward Jones broker won $2 million in a discrimination claim against the firm in Finra arbitration. Financial Industry Regulatory Authority Inc. arbitrators decided Edward Jones was liable for back pay and front pay damages to Rodney...

Big banks' CEOs face reckoning after stock sell-off

January 10, 2019

Sell first, ask questions later. That's been investors' approach to Wall Street banks of late, and it poses a challenge for the companies as they report fourth-quarter earnings next week. Bank chiefs' bullish views and near-record profits in...

Campaign spending at some big firms soared as the securities industry challenged the DOL fiduciary rule

January 4, 2019

A handful of political action committees funded by leading broker-dealers and custodians for registered investment advisers sharply increased their campaign spending in recent election cycles during which time the Department of Labor's now defunct...

Nothing is working for bulls as stocks sell off

December 18, 2018

Valuations aren't stopping it. Jerome Powell's softer tone failed to soothe anyone. The moratorium on tariffs is a fading memory and now the sturdiest chart level of the year is in danger of giving way. A stock rout that bulls thought was finished...

Edward Jones settles 401(k) lawsuit for $3.2 million

December 13, 2018

Edward Jones will pay $3.2 million to settle a lawsuit alleging the firm enriched itself at the expense of employees through mismanagement of its company 401(k) plan. The lawsuit, which was filed in August 2016, claimed the brokerage firm stacked...

Wells Fargo Advisors loses Virginia team to Raymond James

December 4, 2018

Raymond James has landed a $222 million two-person team from Wells Fargo Advisors in Virginia. Betty Schutte-Box and Troy Yenser will operate out of Richmond, Va., as Schutte & Yenser Wealth Management of Raymond James. They've joined the firm's...

Real estate investment firm Direct Source Wealth under investigation in Indiana

November 29, 2018

Regulators in Indiana are investigating Direct Source Wealth, a real estate investment firm with at least $42 million in assets that has raised money from wealthy investors for more than a half-dozen deals, but has not registered or filed notices...

Lessons I've learned on how to thrive

November 17, 2018

This year's Women to Watch winners are an exceptionally talented group of industry leaders whose acumen, leadership, mentorship and service stand out within their organizations and the financial services industry. As I learned of the accomplishments...

Vanguard suffers consumer-satisfaction decline

November 13, 2018

Vanguard Group, famed for its low-cost investment products, just broke out of the pack in a consumer satisfaction survey. But not in a good way. The mutual fund firm with more than $5.3 trillion in assets under management suffered the largest...

BlackRock leads October slide in stocks of asset managers

October 30, 2018

It's been a cruel month for U.S. asset managers. BlackRock Inc., State Street Corp. and rivals have seen their shares take a hit as jittery institutional investors have seized up in choppy markets. The other culprits: weak fee revenue and lackluster...

Ameriprise Financial signs on $444 million team from FSC Securities

October 30, 2018

Ameriprise Financial Inc. has signed on a $444 million team from FSC Securities Corp. Dale Cebert, a financial adviser based in The Villages, Fla., was with FSC Securities for four years before joining Ameriprise. Mr. Cebert, whose new title...

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