Citigroup has agreed to pay $180 million to settle charges tied to two hedge funds the SEC said were improperly marketed and sold by private bankers and Smith Barney brokers.
A 68-year-old widower claims wirehouse did insufficient due diligence on the troubled money manager.
Results of the latest Bank of America Merrill Lynch fund managers survey.
<i>Breakfast with Benjamin</i>: The nation's biggest banks, like JPMorgan Chase, are lumping their broker-dealer units in with other 'non-essential' operations.
Thomas M. Rampulla's return to the U.S. comes after the firm recast itself as a patron of an industry that once saw it as a threat.
Wells Fargo Advisors picks up a Florida adviser with nearly $2 billion and UBS snags a four-person team in New York.
Despite increasing options in the independent space, majority of adviser moves are still among the big four.
Study estimates that between 12% and 20% of long-term packages signed after 2008 mergers will expire annually over the next four years.
Broker and wirehouse embroiled in a three-year dispute over a promissory note.
A decline in compensation expenses in the first quarter helped the wirehouse hit its 22% profit margin target three quarters ahead of schedule. <i>(Don't miss: <a href="http://www.investmentnews.com/gallery/20150406/FREE/406009999/PH/the-6-highest-paid-broker-dealer-executives" target="_blank">The 6 highest-paid B-D executives</a>)</i>
More than 20,000 independent RIAs in the U.S. increased assets 82% to $2.3 trillion from 2007 to 2013 while assets at largest retail brokerages rose 8.2% to $6.2 trillion.
Dwight Freeney accuses the firm and adviser Michael Bock of leading him into a massive scam. <i>(Plus: <a href="http://www.investmentnews.com/gallery/20130812/FREE/812009998/PH/athletes-vs-advisers" target="_blank">7 athletes who say they were duped by advisers</a>)</i>
The practice is growing quickly even beyond wirehouses, but some are concerned about the risks and conflicts of interest.
Ron DeCicco expects the RIA channel to continue growing while regulatory pressures and higher expenses weigh down broker-dealers.
Managed accounts sold by advisers deflect trend toward lower-fee money management as brokers work to maintain profits: Cerulli.
A former Morgan Stanley broker altered his clients' phone numbers in the firm's system before leaving for Ameriprise, according to a lawsuit
Morgan Stanley won't face Federal Trade Commission action as a result of a data breach that compromised information of some 350,000 clients.
John Thiel's outspoken support of a best-interest standard and the Labor Department's effort puts pressure on peers. <i>(See also: <a href="http://www.investmentnews.com/article/20150414/FREE/150419976/labor-department-proposes-controversial-fiduciary-rule" target="_blank">DOL proposes controversial fiduciary rule</a>)</i>
Training session did not include discussion of fiduciary requirements when commission-based assets are moved to fee-based accounts
JPMorgan is seeking a restraining order against six brokers for allegedly contacting clients and defaming the company.
