Following this weekend’s turmoil on Wall Street, financial-sector job cuts may hit new heights, according to a report from Challenger Gray & Christmas Inc. of Chicago.
“There will be massive defections of clients and advisers,” said Liz Nesvold, managing partner of Silver Lane Advisors LLC of New York. “The wirehouse model, which was damaged, is now broken.”
After a weekend of turmoil, shares of American International Group Inc. lost more than half their value in the first hour of trading.
Wayne Christian figured the registered representatives of Center, a small town in eastern Texas, could use a business boost. He also thought its pension funds and endowments, which fund scholarships, needed some new investment options.
Protected Tomorrows, an organization that trains financial advisers to serve those with special needs, is starting a program to train advisers to handle the special financial needs of the disabled, said Mary Anne Ehlert, the group's founder.
LPL Financial has agreed to pay a $275,000 penalty for violating customers' privacy, the Securities and Exchange Commission said Thursday.
Lehman Brothers is verging on collapse, even as Bank of America has reportedly bought Merrill Lynch for $44 billion; AIG hammering out its own rescue strategy.
Lehman Brothers is verging on collapse, even as Bank of America is reportedly in talks to purchase Merrill Lynch and AIG hammers out its own rescue strategy.
The Producer Price Index dropped 0.9% in August after many months of increased prices, according to the Department of Labor.
September’s reading on consumer sentiment improved this month, compared with August, as Americans’ outlook on inflation brightened, according to the preliminary Reuters/University of Michigan consumer sentiment index.
A precipitous drop in energy prices, the presidential conventions and the government bailouts of Fannie Mae and Freddie Mac have helped consumer confidence rise dramatically this month.
Former AIG chairman and chief executive Maurice Greenberg and other former executives at the insurer will have to cough up $115 million as part of a settlement in a derivatives lawsuit with the Teachers’ Retirement System of Louisiana.
Former registered broker-dealer representatives Peter D. Kelly and Daniel K. Ivandjiiski, have been barred from the securities industry for insider trading by the Financial Industry Regulatory Authority.
The Financial Planning Association and the National Association for Fixed Annuities have leapt into the fray, submitting comments on the SEC’s proposed index annuity rule.
Handful of firms peddled equity swaps, stock loans to clients; 'IRS pussyfooted on this.'
Richard England, Jr., the team at Martin Capital Management, Marc Turner and Elizabeth Verterano were named Community Leadership Award winners last night at the second annual awards dinner sponsored by <i>InvestmentNews</i> and the Invest in Others Charitable Foundation Inc.
According to the Congressional Budget Office, the fiscal-2008 budget deficit projection is $407 billion, compared with fiscal 2007’s $161 billion deficit.
Another independent-contractor broker-dealer is being sold — and this time an insurance company is pulling the trigger on the deal.
Two divisions of Bank of America Corp. have agreed to buy back $4.5 billion in auction rate securities from individuals and small businesses across the country.
