The securities industry is coming to grips with the defeat of the broker-dealer exemption rule.
SAN FRANCISCO — In selling one of its subsidiaries to a California bank, Lydian Trust Co. is preparing to bolster its presence on its home turf.
All eyes are on the Securities and Exchange Commission now that a federal appeals court has overturned its controversial broker-dealer exemption rule.
NEW YORK — As long as the stock market keeps rising, and baby boomers keep getting older, variable annuity sales should continue to be robust, industry observers say.
Industry participants were unhappy to learn that repeal will be an option as the Securities and Exchange Commission takes a hard look at the 12(b)-1 rule, which allows mutual funds to generate billions of dollars in fees.
The stock market has remained unsettled since the big plunge of Feb. 27, but many financial advisers report few worries, attributing their well-being to the risk management inoculation they have given their client portfolios.
The structured-products industry is taking its message directly to consumers with coordinated marketing and educational efforts designed to demystify the often-complex, intermediary-sold alternative investments.
The U.S. Court of Appeals for the District of Columbia Circuit on Friday overturned the Securities and Exchange Commission’s broker-dealer exemption rule in a 2-1 decision.
Passive investing is gaining favor among wealth managers, according to bankers, vendors and industry consultants.
A federal judge last week ordered NASD and the New York Stock Exchange to supply an initial batch of documents to a broker-dealer that sued to stop the proposed merger of the organizations’ regulatory units.
NASD will put increasing emphasis on “principles based” regulation rather than “one size fits all” rulemaking, even as it concedes that such a move could confuse many in the brokerage industry.
In an effort to connect better with customers, financial services companies of all stripes are spending more on information technology, according to one analyst.
The profile of “green’’ investors has changed. They aren’t just mature demonstrators of the 1960s with extra cash in their accounts.
SAN FRANCISCO — The days when registered investment advisers could remain as cloistered and mysterious to outsiders as a John Grisham-style law firm may be drawing to a close.
WASHINGTON — Those who bet that the U.S. stock market’s fairly steady climb since last summer was too good to last were winners last month.
The financial planning world has been focusing too heavily on the act of accumulating assets, according to an academic speaking at the InvestmentNews Retirement Summit in New York this afternoon.
Initial reactions to the proposed changes to the ethical standards for certified financial planners have been favorable, but the other shoe could drop this week.
Advisers who start their own practices after leaving larger firms often find that their biggest obstacle is obtaining affordable health insurance for themselves and their families, observers say.
