OptionsXpress Holdings Inc. announced today that it promoted its chief financial officer to the role of president and its chief operating officer to the role of executive vice-chairman, according to published reports.
Morgan Stanley today posted a 69% increase in first-quarter profits on strong advisory fees from higher trading levels and increased investment banking fees.
OTTAWA — The Certified General Accountants Association of Canada has addressed the subject of a national securities regulator and has offered up suggestions about how it should work.
IRVINE, Calif. — In an expected move, Wachovia Securities LLC this month launched a client loyalty program called 4front.
Merrill Lynch & Co. Inc. is planning to increase the scope of its Indian private banking business, with a focus on providing financial services to that country’s growing wealthy population, according to the Economic Times in India.
NEW YORK — Just as Federal Reserve monetary policymakers will use economic data to determine what to do with the federal funds rate this week, financial advisers and asset managers rely on such data to pick investments.
WASHINGTON — The possibility of limiting pension fund involvement in hedge funds was raised last week by legislators and hedge fund industry representatives at a hearing on Capitol Hill on how much risk hedge funds pose for financial markets.
SAN FRANCISCO — In need of an alternative to lackluster Treasury bond performance, financial advisers are helping a high-yield and low-profile cash product go mainstream.
Opponents of a merger between the regulatory operations of NASD and the New York Stock Exchange haven’t given up on their efforts to stop the deal.
A wealthy retired couple in their late 70s enjoyed an annual income of $80,000 but wanted to increase their standard of living.
Intrigued wirehouse executives who are looking for a change are beginning to check out independent-contractor broker-dealers, and what they see interests them more and more, industry executives, consultants and recruiters say.
Continuing its focus on buying small to midsize firms, Royal Alliance Associates Inc. late last month completed a deal to acquire United Securities Alliance Inc.
The growth of the financial planning profession overseas is in the fast lane, though there are some speed bumps, observers say.
Some insurers are taking away their advisers’ group health insurance and other employment benefits if proprietary-product quotas aren’t met, advisers say.
A life insurer known mainly for its fixed annuities has thrown its hat into the variable annuity ring.
State regulators, led by Massachusetts’ William F. Galvin, are stepping up their attacks on financial scam artists who prey on senior citizens.
Ultrawealthy clients with investible assets of $40 million to $50 million rapidly are emerging as one of the most coveted segments of the wealth management business.
LPL Financial Services Inc.’s plan to acquire three broker-dealers owned by Pacific Life Insurance Co. came as little surprise to many in the industry, though the deal has raised a few key questions, industry observers and advisers say.
Industry observers are worried about the potential effect of an NASD proposal to eliminate the definition of “office of supervisory jurisdiction” and in its place create four new branch-office categories.
