Focus Financial Partners, armed with $50 million in new capital from private-equity backers, said last week that it has bought an interest in Bridgewater Wealth and Financial Management LLC.
The hearings of the Financial Crisis Inquiry Commission are off to a poor start, generating a whole lot of heat but not much light. If its chairman, Philip Angelides, and the other members of the commission don't
UBS Wealth Management Americas is beefing up its recruiting package in the chase for elite financial advisers, but the deal falls short of those recently offered by two top rivals.
Right now, defections to other firms aren't that common. But the big Wall Street firms could soon see an exodus of top-level brokers
Focus Financial Partners, which recently completed a $50 million recapitalization to meet debt obligations and revive its business of buying interests in wealth management firms, confirmed today that it has made LLBH Private Wealth Management a full partner firm. As a partner, LLBH gets a combination of cash and equity units in Focus in exchange for giving the parent company a preferential interest in a portion of its annual revenue.
Focus Financial Partners LLC, which calls itself “the leading partnership of independent wealth management firms,” confirmed Monday that it is buying a stake in Joel Isaacson & Co. Inc.
Moneta Group, a large financial planning and retirement benefits firm, has hired a team of A.G. Edwards Inc. veterans who last year produced around $1.3 million in revenue and managed about $300 million of client assets.
It would seem to be an obvious conflict of interest for a Wall Street firm to create an investment product, sell it to its clients and then bet that the product would fail.
“Headline risk” associated with municipal bonds went up today when the U.S. Census Bureau released data that state government tax collections totaled $715.2 billion in fiscal year 2009. That's a decrease of nearly $67 billion (8.6%) from fiscal 2008.
Poor Goldman Sachs. The Wall Street firm that's printing money mere months after exiting the federal bank-bailout straitjacket can do no right.
Exchange-traded funds potentially make it easier for financial advisers to build a well-diversified portfolio that limits volatility by spreading risk. But the proliferation of more exotic ETFs — particularly leveraged and inverse ETFs — could blunt their diversification potential.
A federal judge in Florida has refused to dismiss charges of illegal document shredding against two former employees of disgraced financier Allen Stanford.
Credit Suisse Group posted a fourth-quarter net profit of 793 million Swiss francs ($746 million) on Thursday, blaming writedowns and a hefty U.S. legal settlement for failing to meet expectations.
U.S. clients with more than 1 million Swiss Francs in offshore accounts with UBS could be ratted out.
Here are some solutions for 2010 that we hope our politicians, regulators and financial wizards have made.
But use of commodities and absolute-return strategies appears to be universal, according to a survey from Rydex Distributors
It's been a long, dry spell for many of the suit-clad Wall Streeters who were handed their pink slips before hardly anyone was talking recovery. But sit down with a handful of ex-finance industry workers volunteering to work for free as interns in a city-sponsored retraining program, and they seem almost ... happy.
