One of the founders of Financial Network Investment Corp., the largest independent-contractor broker-dealer in the ING Advisors Network Inc., walked out the door last month and joined NFP Securities Inc., leaving some observers to wonder how many registered representatives affiliated with FNIC eventually could follow.
Baby boomers who are retiring and rolling over their 401(k) money favor mutual fund wrap programs even though many are wealthy enough to qualify for separately managed accounts, industry observers say.
Joseph Moglia’s proclamation that his company is spending big money to align the TD Ameritrade brand with thoughtful investment advice drew initial applause from financial advisers listening to the Omaha, Neb.-based company’s chairman and chief executive at its Partnership 2007 conference here last week.
BOSTON — Just because the Enron Corp. and market-timing scandals have led to greater disclosure requirements doesn’t mean that some mutual fund companies aren’t still burying some doozies in their regulatory filings, according to Russel Kinnel, director of mutual fund research for Morningstar Inc.
PHILADELPHIA — When it comes to new indexes, those that eschew weightings based on market capitalization are all the rage.
SAN FRANCISCO — The biggest software company in the world may be forcing financial advisers to purchase expensive hardware in the wake of its recent upgrade.
In an effort to prevent top brokers from bolting, wirehouses quietly are backing down from their tough stance against allowing advisers to act as fiduciaries to employee retirement plans.
WASHINGTON — Be careful what you wish for with regard to cost basis reporting, as it might cause a headache of colossal proportions.
Regulators are backing off their aggressive pursuit of B share cases. In the clearest indication yet that enforcers have changed their tune, the SEC late last month dropped a prominent B share case against former Prudential Securities Inc. broker Robert Ostrowski.
Merrill Lynch & Co. Inc. continues to lead the wirehouse race for net new client assets.
