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Schwab gets some traction from fee waiver promotion
It didn't take long for Allgen Financial Services Inc., a registered investment adviser, to seize on The Charles Schwab Corp.'s offer to waive electronic stock commissions through next June 30 and reimburse account transfer fees for any new-to-Schwab client that RIAs sign on by yearend.
Leveraged ETFs: Handle with care
investment advisers, financial planners and brokers should exercise extra caution before they recommend or guide their clients into leveraged exchange traded funds.
Net new assets from advisers slide again, Schwab says
In another barometer of the continuing pain that fee-based financial advisers are experiencing, The Charles Schwab Corp. has reported that net new assets in its adviser services businesses fell 47% in the second quarter to $7.7 billion, from $14.5 billion a year earlier.
Congress must enact regulatory reforms carefully
President Obama's regulatory reform proposals provided a broad outline and left many of the details to Congress. Ideally, before filling in those details, Congress will gather evidence on what caused the financial crisis, and where regulation actually broke down.
We need financial cops – and speed limits
Mary Schapiro, chairman of the Securities and Exchange Commission, is correct: Fiduciary standards for all who give investment advice won't be sufficient to deter fraud.
Breakaway brokers still a trickle, not a tide
Even though independence is losing its stigma as a sign of failure among wirehouse brokers, they continue to move at only a moderate pace to independent broker-dealers and registered investment advisory firms, a panel of experts said last week.
SEC doesn’t need a defibrillator after all
At the beginning of the year, after it missed cues for seemingly everything from the massive Madoff Ponzi scheme to the credit crisis, the Securities and Exchange Commission was being written off as all but dead.
Schwab to waive fees for its RIAs’ new clients
The Charles Schwab Corp. is dipping into its deep pockets to help independent advisers capture business from full-service brokers.
Regulatory reforms are positive moves for investors
The Obama administration has put forward an excellent blueprint for regulatory reform. Much of what the administration has proposed will increase transparency, reduce the risk of another financial meltdown and
City National takes big stake in Lee Munder Capital
City National Corp., the bank holding company that owns Convergent Capital Management LLC, has agreed to buy a majority interest in Lee Munder Capital Group, a firm with more than $3 billion in assets under management.
Two cheers for automatic IRA enrollment
Something must be done to encourage employees of small companies to save for retirement. As many as 78 million such workers aren't saving for the future and ultimately will depend solely on Social Security for retirement income.
Lee Munder Capital to merge into parent of RIA consolidator Convergent Capital
City National Corp., a Beverly Hills, Calif.-based bank holding company that owns Convergent Capital Management LLC, has agreed to buy a majority interest in Lee Munder Capital Group, a firm with more than $3 billion of assets under management.
Time for government to get out of the way of a recovery
Now that the stock market seems to be signaling that the recession has bottomed, perhaps the demagogic bashing of bankers, insurance executives, hedge fund managers, auto executives and even ordinary businesspeople will cease.
Independent advisory firms’ outreach pays off for some
Independent advisory firms have stepped up their outreach efforts, and the largest firms continue to open accounts even though their assets under management have dropped.
Wealthier women sit in driver’s seat
Household financial decisions are being made increasingly by affluent women, creating opportunities for financial advisers, according to two industry surveys.
Insurance industry needs systemic-risk check
Congress should pass, as quickly as possible, a bill to establish an Office of Insurance Information.
Insurance industry needs federal oversight
Congress is likely to begin a review of the financial oversight system next month, with an eye toward revamping regulation. Banking, of course, will take center stage, especially now that the federal government has a direct stake in many of the nation's largest banks.
MassMutual weighs future in VA marketplace
Following the departure of a major annuities expert and the elimination of some variable annuity riders, Massachusetts Mutual Life Insurance Co. is mulling the future of its role in the VA marketplace.
Let’s rebuild retirement’s three legs
For decades, the U.S. retirement system was described as a three-legged stool.
Schwab edges Fidelity in breakaway broker race
The Charles Schwab Corp. edged out Fidelity Investments during the first quarter in the battle to service the small but growing number of stockbrokers who are leaving their Series 7 licenses behind to become independent investment advisers.
