Financial advisers are reeling from the abrupt resignation of Ellyn A. McColgan last week from Fidelity Investments.
An NASD arbitration panel ordered Merrill Lynch to pay a former employee $1.6 million after he was fired because of his ethnicity.
Morgan Stanley’s retail brokerage unit ranked dead last in customer satisfaction for the second year in a row, according to a survey.
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.
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.
Morgan Stanley has bought Daewoo Engineering & Construction Co.'s Seoul headquarters for $1.04 billion, published reports said.
Ben Edwards III, a former chief executive of A.G. Edwards Inc., is not happy about his family firm’s merger with Wachovia Corp.
As the number of regional brokerage firms dwindles, executives at those that remain insist they’re better off staying independent.
The FBI is analyzing death threats against Goldman Sachs, according to published reports.
The EEOC has sued Merrill Lynch on behalf of an Iranian national who alleges that the bank discriminated against him.
The U.S. Supreme Court has agreed to hear a dispute on whether a tax code allows trusts to claim a full deduction for investment management fees.
Wachovia Securities LLC may face challenges in retaining all the brokers it wants to, in the wake of its announced merger with A.G. Edwards Inc. of St. Louis.
In an attempt to save a semblance of his family’s broker-dealer, Scott Brooks, scion of the founder of Brookstreet Securities Corp., last Thursday jumped to Wedbush Morgan Securities Inc. and then immediately invited Brookstreet’s 500 affiliated representatives to join him.
In an about-face, Schwab Institutional has reconciled with a former technology partner in an effort to upgrade its customer relationship management tool for financial advisers.
CHICAGO — Data gathered by Boston-based research firm Cerulli Associates Inc. confirm what most observers have long suspected: Fidelity Investments is the nation’s individual-retirement-account powerhouse.
NASD has fined Wachovia $2 million for failing to adequately supervise its fee-based brokerage business.
Lehman Brothers plans to raise $500 million for a fund that invests in private equity companies, according to published reports.
Morgan Stanley scored record levels of income and net revenues during the second quarter.
Bear Stearns’ investment bank may lend $1.5 billion to save one of the company's struggling hedge funds, according to a Wall Street Journal report.
Aiming to forestall defections and address merger-related anxieties, Wachovia Securities LLC and A.G. Edwards Inc. announced broker retention packages Friday.
