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Credit rating reform efforts moving in right direction
Congressional attempts to eradicate conflicts of interest from the Wall Street credit agencies' business model are headed in the right direction, to the benefit of all investors.
$3.2M Smith Barney team bolts Morgan Stanley for J.P. Morgan
Morgan Stanley Smith Barney LLC has lost a $3 million producing team of veteran Smith Barney brokers to rival J.P. Morgan Securities LLC.
Schwab and Charles Goldman agree to arbitration
The Charles Schwab Corp. and Charles Goldman have agreed to meet with a private mediator next month to discuss the former executive vice president's demand for $736,000 in severance pay following his dismissal in 2008 as head of the firm's RIA business.
Prudential is new No. 1 seller of overall individual annuities
Prudential Financial Inc. has taken the crown from MetLife Inc. as the biggest seller of overall individual annuities…
Advisers’ worries about inflation wane
The reality of a sluggish, deflationary economy is sinking in among advisers.
The dangers of the growing bond bubble
DESPITE A DECADE of bitter experience, we have learned little about the buildup and bursting of speculative bubbles.
Schwab alternatives director Josh Kernan resigns
Josh Kernan, who oversees sales of alternative investments to investment advisers and their clients at Charles Schwab Corp., is leaving the company after 16 years to start a new firm.
Revenue metric dropped starkly for RIAs in ’09
It was another tough year to be a financial adviser — or at least that seems to be one of the conclusions of The Charles Schwab Corp.'s RIA benchmarking study.
RIAs see sizable drop in revenue per client
Schwab survey also uncovers drop in margins, slowdown in number of new clients
Investors, advisers heeding wake-up call
Judging by the results of InvestmentNews' 2010 Industry Attitudes survey, the financial crisis and market crash seem to have changed the behavior of financial advisers and clients for the better
Trickle-down doesn’t, as rich don’t spend tax savings: Moody’s
Wealthy pocket savings, research finds; stock market biggest factor in affluent's spending habits
Citi continues to purge U.S. Trust advisers
Citi Private Bank, the private-banking unit of Citigroup Inc., continues its aggressive recruiting from U.S. Trust and has now lured a total of 10 bankers from the Bank of America unit since the end of April.
U.S. Trust, Atlantic Trust ramp up recruiting
U.S. Trust Corp., the private banking unit of Bank of America Corp., has hired five senior-level wealth management experts as part of the firm's bid to hire more than 200 advisers and bankers this year.
Ex-ING adviser Breard gets just under 7 years in prison for fraud
A Kirkland financial planner who looted her clients' investment accounts was sentenced to six years and eight months in prison by a federal judge who praised her for cooperating after she got caught.
Younger investors at risk of being ‘Depression generation’: Krawcheck
Fear of market gyrations taking hold among affluent young investors; is the 'conservatism' embedded?
New online disclosures rattle investment advisers
Advisers are alarmed that a new online reporting system that discloses their disciplinary records includes customer complaints that have not been substantiated.
Charles Goldman sues Schwab for $736K
Charles G. Goldman, who lost his position as head of Charles Schwab & Co.'s industry-leading business for independent investment advisers 18 months ago, has sued the company in federal court for more than $736,000 in severance pay and related benefits.
Schwab hands Bernie Clark reins to RIA business
The Charles Schwab Corp. last week handed the reins of its registered investment adviser custody business to Bernard “Bernie” Clark who had run sales and relationship management for the Advisor Services group.
What the listless economy needs now
Despite short-term interest rates that hover near zero and almost $1.5 trillion of bailout spending through the Troubled Asset Relief Program and the administration's stimulus program, the economy is still weak. Why?
Congress likely to punt on estate tax until fall – or later
As Congress heads toward its summer recess, it looks unlikely that legislators will make progress any time soon on the estate tax. That leaves financial planners and their clients in the lurch.
