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Pershing asks advisers to pay surcharges for more funds
Pershing LLC, the largest provider of back-office services and financing to small and independent broker-dealers, this month began charging shareholder servicing fees to brokers and financial advisers who buy certain mutual funds from its Fund Center platform.
Only crisis will prompt government spending solution, advisers told
Congress and the executive branch are unlikely to address the mounting deficit and growing government spending until forced into action by a crisis, according to Jeffrey Garten, a professor at the Yale School of Management and undersecretary of commerce for international trade under President Clinton.
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.
Schwab executive says rivals will follow its lead on alternatives
The head of sales at The Charles Schwab Corp.’s adviser services unit expects its competitors to adopt the…
Bank of New York Mellon Q1 earnings down 57%; cuts dividend
Parent of Pershing and Dreyfus cuts dividend to nine cents a share from 24 cents, to save $700M a year.
Pershing introduces program to attract hybrid RIAs to correspondent firms
Clearing giant Pershing LLC has rolled out a program to help client firms attract fee-based advisers who do some commission business.
