Second financial adviser identified as part of college admissions scandal
Morgan Stanley terminated Michael Wu in March after he did not cooperate with the firm's investigation.
Acosta says Labor Department will revive fiduciary rule
Labor secretary says his agency is collaborating with the Securities and Exchange Commission as the regulator finalizes its own Reg BI.
Elderly investors win $3.2 million Finra arbitration award against AXA Advisors
Upstate New York couple cites five unsuitable variable annuity, life insurance transactions.
State regulators urge SEC not to try to block state fiduciary laws
NASAA doesn't want regulator to assert federal preemption in advice rule.
Bob Doll says Fed likely will ‘murder’ economic growth
U.S. economy is doing reasonably well, but the Federal Reserve could bring about its demise when inflation eventually ramps up, Nuveen exec says.
Ameriprise to open bank with up to $2.5 billion in client deposits
The company will join other broker-dealers cross-selling banking products such as mortgages and home equity loans through its adviser workforce.
Finra reveals how it spent $61 million in fine money last year
Regulator augmented fine proceeds with $20 million from reserves to bolster technology, examination program.
Finra suspends former star LPL rep who borrowed client cash
Regulator says James E. 'Jeb' Bashaw borrowed $200,000 from a client in 2013 without telling LPL.
Centerbridge said to be in talks to buy Advisor Group
Advisor Group's independent broker-dealer network in the U.S. has more than 7,000 advisers.
Social Security funding outlook improves slightly
Retirement reserves extended one year; disability fund by 20 years
Richard Thaler wants to use 401(k)s to boost Social Security payments
The Nobel laureate wants to simplify drawing down retirement assets, which he thinks is 'way harder' than saving the money.
Morgan Stanley rides wealth management train to solid first quarter
Chairman and CEO James Gorman expresses excitement about expanding into workplace plans with purchase of Solium.
FPA backs away from controversial plan to merge chapters
The group is no longer seeking to dissolve local chapters as separate legal entities.
New Jersey releases rule to impose fiduciary duty on brokers
State Securities Bureau says SEC's Regulation Best Interest 'does not provide sufficient protections.'
Woodbridge Group execs charged with criminal fraud in Ponzi scheme
Former CEO Robert H. Shapiro and two others were arrested in connection with investment scheme that SEC claims defrauded 8,400 investors.
Headcount at Wells Fargo Advisors continues to slide
Firm lost another 140 advisers in the first quarter, compared with 106 the previous quarter.
Principal-Wells Fargo retirement deal hints at fee compression
Principal paid less than other firms that have acquired large retirement businesses in the past decade and a half, according to an InvestmentNews analysis.
401(k) lawsuit over Vanguard fees ends with $23.7 million settlement
The employee lawsuit against Anthem Inc. surprised advisers because Vanguard is widely seen as a low-cost provider.
Principal to buy Wells Fargo retirement unit for $1.2 billion
Transaction is part of Wells' effort to streamline its operations in the wake of scandals.
SEC member Robert Jackson Jr. calls for ‘bipartisan’ Regulation Best Interest
Robert Jackson Jr. warns that the advice measure will need unified support to withstand legal challenges.
