Fund Managers Question Global Economic Recovery
The latest BofA Merrill Lynch survey found that fund managers are retreating into cash as skepticism rises over economic recovery in Europe and China.
Tag: Broker/Dealers
FINRA Proposes More BrokerCheck Expansions
The Financial Industry Regulatory Authority (FINRA) said it wants to make available more public complaints and other information through the BrokerCheck service.
Broker Held Accountable for Sister's Investment Losses
A woman who sued her stockbroker brother won $608,000 under the decision a Financial Industry Regulatory Authority (FINRA) arbitration panel.
Wells Fargo Advisors Introduces Succession Planning, Market Valuing System
Wells Fargo Advisors Financial Network, LLC, said it now offers a new program to help its advisers determine, build, and monitor the value of their practice.
Thain Gets New Gig at CIT
John Thain, the former chairman and CEO of Merrill Lynch, is now the chairman and CEO of CIT Group Inc., which provides finance to small businesses and middle-market...
UBS Reshuffles Wealth Management Americas
UBS Wealth Management Americas is reportedly reorganizing the existing three divisions of its U.S. retail brokerage into two divisions.
BofA Settles with SEC, Faces Suit from Cuomo
It was a big day for Bank of America (BofA), as the bank settled one lawsuit and was handed a new one.
How Many Brokers Really Went Independent in 2009?
Top custodians said they attracted more advisers to independence in 2009.
Advisers Say How Fiduciary Standard Could Change Business
If implemented, financial advisers said a fiduciary standard would put an increased focus on financial planning and fee-based advisory services, according to an industry report.
TD Bank to Shut Down Advisory Unit
TD Bank Financial Group is phasing out its financial advisory business, but keeping its high-net-worth division, according to reports.
Klepacki to Run Delaware Investments' Third-Party B/D Distribution
Delaware Investments, a member of Macquarie Group, has hired Jeff Klepacki to run its third-party broker/dealer (B/D) distribution activities.
Court Refuses Broker Appeal for Pension Fraud Conviction
A federal appellate court has rebuffed a bid by former investment broker Nathan Chapman Jr. to overturn his conviction for fraud against the Maryland state pension system on...
LPL Names Bruton Head of Hybrid RIA Platform
LPL Financial Corporation said that Derek Bruton, executive vice president and national sales manager, has assumed oversight of the company's Hybrid RIA platform.
FINRA Issues Guidance about Social Networking
Broker/dealers and their reps confused about regulations regarding social networking might now have some answers.
Morgan Stanley Smith Barney Ranks as Top Fund Distributor to HNWs
Morgan Stanley Smith Barney was the highest-ranked wirehouse among affluent and high-net-worth (HNW) investors, according to Cogent Research’s list of top fund distributors.
Advisers Rely More on Analysts for Mutual Fund Choices
Financial intermediaries now do more than one-third of their mutual fund business in products recommended from their home office, according to a survey by kasina and Horsesmouth.
McCann Names Former Merrill Exec to Head UBS Advisory Group
Robert McCann, CEO of UBS Wealth Management Americas, has filled out the firm’s leadership team with former Merrill Lynch executives, according to news reports.
Dabbling Out, Specializing In for MSSB Retirement Plan Advisers
As the defined contribution (DC) arena becomes more complex and competitive for financial advisers, Morgan Stanley Smith Barney (MSSB) is focusing its efforts on a lineup of retirement...
Krawcheck Says Pace of Broker Departures Has Slowed
Sallie Krawcheck, head of the global wealth and investment management division at Bank of America (BofA), said reports of brokers leaving in droves are greatly exaggerated, Reuters reported.