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Schwab to RIA clients: Did you authorize this wire transfer?
The Charles Schwab Corp. has begun calling clients of some registered investment advisers to verify that they have authorized wire transfers of funds from accounts held in custody at the broker-dealer.
Defiant Gundlach: I’ll take my team elsewhere
Jeffrey Gundlach said his “inappropriate termination” by TCW Asset Management will simply give him and his mortgage-backed securities team an opportunity to create an even stronger investment organization to serve investors
TWC to buy MetWest
The TCW Group Inc. announced late today it is purchasing Metropolitan West Asset Management LLC. TCW has…
Adviser named in private-placement suit says he did nothing wrong
A Securities America adviser named last week in a class action said he had no way of knowing that securities he sold would later blow up.
Look out, SEC, cozy settlements won’t fly anymore
If the Securities and Exchange Commission won't protect shareholders, then the courts must — and they will.
Too scared to open statements, couple loses in arbitration
A New York couple who lost more than $2 million on financial and health care stock investments made by their independent adviser in 2008 and who stopped opening their monthly statements has failed in a bid to collect damages from Fidelity Investments, the custodian for their RIA.
A tale of taxes – and superior service
I would like to share a story about great client service from a financial adviser.
Affiliated Managers Group reverses its 4Q loss and buys a stake in Artemis
Asset manager Affiliated Managers Group reported a fourth-quarter profit on Monday, reversing a loss for the same period a year ago.
Op<b>IN</b>ion online
Deputy editor Evan Cooper on advisers, brokers, and TV. (Yes, TV)
Roth conversions: The gamble of a lifetime
Many investors approaching retirement view the stock market as too much of a gamble.
Is income distribution the next ETF frontier?
Hoping to address the income needs of retiring baby boomers, providers of exchange-traded funds are gearing up to introduce new income-oriented products.
California couple sues VALIC over its annuity sales practices
A California couple has filed suit against The Variable Annuity Life Insurance Co., an American International Group Inc. subsidiary, claiming that the company's sales agents misled investors about the tax advantages of using variable annuities in qualified retirement plans.
AIG trying to distance itself from its past
Hoping to overcome distributors’ suspicions and gain traction in the variable-annuity market, embattled insurance carrier AIG next month…
Roll-up rolls on as Focus buys interest in Bridgewater
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.
Crisis probe provides theater but little light
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’ topped-up recruiting package lags plans at MSSB, Merrill Lynch
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.
Wirehouse walls set to come tumbling down?
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
ING to sell stripped-down VA with stripped-down commission
ING plans to replace its traditional variable-annuity offering with a simplified product that comes with a scaled-back commission.
Focus confirms deal with Conn. breakaway-broker RIA
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 confirms purchase of Joel Isaacson & Co.
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.
