John Hancock will pay $21.2 million to settle an investigation of the firm's failure to disclose revenue sharing schemes.
Looking toward an initial public offering, Kohlberg Kravis Roberts is seeking a securities broker-dealer license, TheDeal.com said.
AXA Equitable Life Insurance Co. has named Kenneth T. Kozlowski vice president of its Funds Management group.
Wachovia Securities LLC may face challenges in retaining all the brokers it wants to, in the wake of its announced merger with A.G. Edwards Inc. of St. Louis.
Bank of America said it lost about $450 million from the bankruptcy of Parmalat after relying on "fraudulent misrepresentations" made by the Italian dairy company.
Two powerful bank trade groups today announced plans for a merger.
The SEC is looking at possible problems involving revenue sharing payments made by funds of funds.
Bank sales of variable annuities that invest in mutual funds continue to grow but are outpaced consistently by those of mutual funds. That’s a function of periodic adverse publicity combined with compliance hassles, observers say.
In an attempt to save a semblance of his family’s broker-dealer, Scott Brooks, scion of the founder of Brookstreet Securities Corp., last Thursday jumped to Wedbush Morgan Securities Inc. and then immediately invited Brookstreet’s 500 affiliated representatives to join him.
In an about-face, Schwab Institutional has reconciled with a former technology partner in an effort to upgrade its customer relationship management tool for financial advisers.
WASHINGTON — Summer is about beaches, barbecues and long rounds of golf. But even sun lovers must come indoors eventually, and one fund manager is betting that many will be spending the hazy days of summer in front of their Nintendo Wiis and Sony PlayStation 3s.
In a comfortable Colonial-era tavern in Rhode Island last Tuesday, David L. Ullom dished out generous portions of retirement advice — along with a free meal of chicken, mashed potatoes and summer squash.
The college savings plan industry is closely tracking a class action filed in Illinois last month that could help open the legal floodgates for states that use tax incentives to induce residents to invest in their own Section 529 programs.
NEW YORK — Recent changes in management at independent-contractor broker-dealer National Planning Corp. and National Planning Holdings Inc., its broker-dealer network, have some of its affiliated advisers concerned, while others accept the changes as part of the business.
NEW YORK — After receiving suggestions from financial professionals, the Social Security Administration has designated a section of its website specifically for advisers.
BOSTON — A San Francisco-based company that says it can help mutual funds cut costs and boost returns through better management of investor cash flows has won its biggest-name client yet — OppenheimerFunds Inc. of New York, the eighth-largest U.S. fund group.
NEW YORK — Advisers may want to exercise some tough love when their clients approach them about going back to school for an advanced degree.
CHICAGO — Data gathered by Boston-based research firm Cerulli Associates Inc. confirm what most observers have long suspected: Fidelity Investments is the nation’s individual-retirement-account powerhouse.
Scott Brooks has jumped from Brookstreet to Wedbush Morgan and has asked Brookstreet's reps to join him.
A.G. Edwards today reported first-quarter gains in net revenue and earnings, buoyed by gains in client assets and fee-based accounts.
