Two of the biggest names — and personalities — until recently associated with Royal Alliance Associates Inc. now are attempting to build national firms.
Financial intermediaries could be left holding the bag in the unraveling of what is being characterized as possibly the longest-running Ponzi scheme in U.S. history.
Around this time of year, secondary schools typically hold a “career day,” and mothers and fathers are coaxed from their workplaces to participate in a “show and tell” with the next generation.
After spending the past three years cozying up to securities regulators at NASD, independent-contractor broker-dealers are fearful that state regulators pose an increasing threat.
When banks and brokers first started offering health savings accounts, clients could choose any investment they wanted for their account funds — as long as it was a certificate of deposit.
Like their clients, advisers and registered representatives are getting older and often worry about their futures.
With the specter of millionare clients’ assets slipping through its fingers in a hot rollover market, Fidelity Investments is placing its high-net-worth strategy squarely on the shoulders of registered investment advisers.
Bank-loan funds are the beneficiary of a bond market that has made investors leery of most fixed-income investments — particularly junk bonds. Compared with junk-bond funds — to which some consider bank-loan funds an attractive alternative — asset flows into bank-loan funds have remained strong.
A short but significant provision in President Bush’s proposed fiscal 2008 federal budget has cemented his status as the college savings plan industry’s new best friend.
The $1.2 trillion hedge fund industry, bracing for its second regulatory battle with the Securities and Exchange Commission in as many years, plans to take a more proactive approach to dealing with regulators, critics and the media.
NEW YORK — A securities law firm is seeking class action status for clients who may have been financially damaged by an insurer’s threats and commission incentives designed to skew adviser judgment in favor of proprietary products.
NEW YORK — John Hancock Life Insurance Co. of Boston this month introduced a policy that guarantees cash values to a greater extent than other types of whole life insurance.
SAN FRANCISCO — A top bond expert made only passing mention of bonds at TD Ameritrade Holding Corp.’s 2007 annual conference in San Diego early this month.
Bank of America Corp. chief executive Kenneth D. Lewis saw his stock options drop 8% to $10.8 million last year, compared with $11.7 million in 2005, according to Financial News.
A trade group for the variable annuity industry today announced a technology initiative intended to save time and money for VA distributors through streamlining and standardization.
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.
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 rich in real estate now can get cash out of their homes without taking on debt or making a payment, but at least one competitor questions whether the idea is a Faustian bargain.
