NEW YORK — Consumers with low credit scores, many of whom already pay high interest rates on subprime loans, may be paying too much for something else: kits that claim to patch up their credit.
LOS ANGELES — City National Corp.’s acquisition of Lydian Wealth Management Co. LLC, which closed this month, marks a bold move by the financial services company to make significant inroads into the ultrahigh-net-worth market.
NEW YORK — Financial advisers and their clients aren’t giving the risk of becoming disabled the attention it deserves, according to disability insurance experts.
IRVINE, Calif. — Small brokerage firms are concerned about possible increases in net capital requirements that the Securities and Exchange Commission has proposed.
NEW YORK — As some U.S. senators find fault with the arbitration system that resolves client disputes with broker-dealers, the brokerage industry’s largest trade group is defending the process.
LOS ANGELES — In most of the country, wealth managers deal directly with their clients.
SAN FRANCISCO — Schwab Performance Technologies Inc. is waiving the $10,000 license charge for its PortfolioCenter portfolio accounting software for advisers with 50 or fewer accounts.
OTTAWA — An alternative trading system owned by Canadian banks — the announcement of which this month immediately knocked 12% off the share price of the Toronto Stock Exchange’s parent, TSX Group Inc. — threatens to upset Canada’s capital markets.
PHILADELPHIA — Mid-cap stocks rank among the best- performing mutual funds, but they remain a tough sell to investors, industry experts say.
LPL Financial Services is playing hardball. Officials at the firm reportedly made it clear to competitor National Planning Holdings Inc. that it needs to step away from recruiting registered representatives from Pacific Life Insurance Co. or it will face consequences.
