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SEC helps move from fee-based accounts
The SEC has voted to give some non-discretionary advisory accounts limited relief from principal trading restrictions.
Evergreen to pay $32.5 million
The registered investment adviser will pay $32.5 million to settle market-timing charges with the SEC.
Fidelity’s 529 plans thrive
Assets for 529 college savings plans managed by Fidelity Investments grew nearly 60% for the past year to $13.5 billion.
Fidelity renames RIA group
Fidelity Registered Investment Advisor Group today became Fidelity Institutional Wealth Services.
Storms steps down as Marsh’s CEO
Marsh & McLennan Cos. stock slipped after Brian M. Storms stepped down as CEO of Marsh Inc. on Friday.
Insurance regulators join fight against bilking of the elderly
Insurance regulators are joining the attack on investment fraud that targets older Americans.
A.G. Edwards suing over broker defections
The escalating battle between A.G. Edwards & Sons Inc. and Stifel Financial Corp. is now in the courts.
Heavy-hitting brokers found to be scarce
Given the voracious appetite of broker-dealers, there simply aren’t enough big-producing brokers available for recruitment, according to a new industry report.
NYLI names chief financial officer
Craig A. Merdian has joined New York Life International as executive vice president and CFO.
Merrill adjusts strategy in bumpy Q3
Merrill Lynch has adjusted the value of some investments suffering from the subprime-mortgage market.
Defense Dept. on to crooked advisers
With a recently passed law, the Department of Defense has declared war on bogus financial advisers.
Interim rule on principal trades likely
The SEC is likely to adopt a temporary rule that will let fee-based brokers continue to make principal trades.
TD says sorry after hacker hits clients
TD Ameritrade began sending apology letters to most of its clients after a hacker stole vital information.
RIA firms grew, owners too, in ’06
RIA firms grew assets by 15% last year, and revenues by 18%, according to a study released today.
Pacific Life parts ways with last B-D
Pacific Life Insurance has cut ties with United Planners’ Financial Services of America.
Individual annuity sales hit record highs
Individual annuity sales increased 6% in the second quarter to a record of $66.5 billion over the same period in 2006.
NAVA Hall of Fame inducts three
Richard M. Reilly, Michael Gilotti and Mathew Greenwald were honored and six new board members were added.
Slow and steady for boomer advisers
Financial advisers shouldn’t focus on the big picture of 78 million baby boomers charging toward retirement, but as a gradual evolution, said Oppenheimer Funds economist Brian Levitt.
Ex-Amex chief Sodano settles with SEC
This week, after a long battle with the SEC, former American Stock Exchange chairman and chief executive Salvatore F. Sodano consented to SEC findings that he failed to supervise the exchange's oversight of its order-handling and record-keeping rules from 1999 through June 2004.
Consider ‘integrated housing’ says planner
Seniors may want to sell their homes and move in with relatives as a way to reduce overhead expenses.
