U.S. Equity Trading Commissions Fall Short
Commissions paid by institutional investors to brokers on trades of U.S. equities are falling far short of projections to this point in 2010, according to Greenwich Associates.
Tag: Compensation
NY Insurance Brokers File Suit to Stop Compensation Transparency Regulation
A coalition of New York brokers recently filed legal action to prevent the New York Insurance Department from implementing a regulation requiring insurance producers to disclose compensation from...
Study: 20% of Wirehouse Brokers Will Leave Firms in Next 18 Months
About one in 10 brokers reported that they are very unsatisfied with their firms, according to a new survey.
Supreme Court Sends Investment Adviser Fee Case Back to 8th Circuit
The U.S. Supreme Court has sent a case contending that Ameriprise Financial’s fund fee structure violated the Investment Company Act back to the 8th U.S. Circuit Court of...
Level Comp Coming Soon from Fidelity for 401(k) Advisers
Fidelity Investments will be unveiling a new fee structure as well as enhanced reporting and payment processes for advisers who sell its plans.
Former Morgan Stanley Adviser Agrees to $80K SEC Settlement
A former Morgan Stanley institutional financial adviser has settled Securities and Exchange Commission (SEC) charges of securities law violations for not properly disclosing his conflicts of interest.
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Most Successful Advisers of the Year
While there are tens of thousands of advisers, and thousands of advisers who do some work with workplace retirement plans, far fewer have committed the time and acquired...
Retirement Plan Advisers Boast Bigger Books of Business
Advisers with retirement plan sponsor clients have total assets under management (AUM) more than 40% higher than their peers, according to Cogent Research.
Morgan Stanley Smith Barney Goes after Top Brokers
Morgan Stanley Smith Barney (MSSB) pumped up its recruiting package in order to attract top producers, Dow Jones reported.
Financial Services Firms Could See Benefits Cuts
Nearly half (49%) of 63 surveyed CFOs at financial services firms said their companies are reducing employee bonuses in the next six months, according to Grant Thornton LLP.
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Turn Abouts
Every time I turn around lately, it seems there is another news alert in my inbox about 401(k) fees, whether it is some progress being made in Congress...
Citi Advisers Will Switch to Fee-Only, Partner with RIAs
Citi announced that financial advisers at Citibank branches will no longer provide commission-based transactions.
MFS Offers Program to Grow Retirement Plan Advisory Business
MFS Investment Management has introduced Advanced (k), a program designed to help retirement platform wholesalers and retirement advisers expand their retirement plan practice.
Advisers Report Doing More for Less
Advisers, particularly in the wirehouse channel, have seen cutbacks in support and compensation in the last year, according to a report from the Financial Research Corporation (FRC).
NYAG Back to Hounding BofA
New York Attorney General Andrew Cuomo’s office is again requesting information from Bank of America (BofA) as part of an ongoing investigation into its January 1 acquisition of...
ICI Urges Court to Stick with Traditional Critique of Fund Fees
The Investment Company Institute (ICI) is pushing the U.S. Supreme Court to stick with the established legal framework when evaluating claims that a mutual fund’s investment adviser has...
Schapiro Says Broker Compensation Can Promote Risk
The Securities and Exchange Commission (SEC) has encouraged broker/dealer (B/D) bosses to rein in their reps.
IMHO: Looking Class
Next week PLANSPONSOR and PLANADVISER will open nominations for our Retirement Plan Adviser of the Year awards.