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T. Rowe ups share buyback
T. Rowe Price Group’s board of directors has approved a 15 million share increase in the company's stock buyback plan.
Citi to take more active role in SMAs
For the first time, starting in July, Citigroup Inc.'s managed-account platforms will start advising Smith Barney reps and Citi private bankers on when to buy and sell specific money managers and mutual funds for their clients.
Citi and UBS wealth units tough it out
Wealth management executives at Citigroup and UBS, two of the financial institutions hardest hit by the subprime loan crisis, are working overtime on damage control to protect their lucrative franchises.
‘Rep-as-adviser’ programs on rise
"Rep-as-adviser" programs are gaining interest among brokerage firms as an alternative to the banned fee-based brokerage accounts, according to a report by Cerulli Associates Inc.
Several wirehouses press advisers to talk health care with clients
Several wirehouse firms have begun pushing their financial advisers to talk to clients in more depth about health care issues in retirement, but at least one firm, UBS Financial Services Inc., is avoiding the topic because of liability concerns.
Several wirehouses press advisers to talk health care with clients
Several wirehouse firms have begun pushing their financial advisers to talk to clients in more depth about health…
Industrial bank bill moves closer to passage
Legislation is moving forward in the Senate that would allow financial services companies to keep their industrial banks.
LPL recruits another exec from a rival
Christopher Poch will run the private trust group at the firm.
IMCA attracting more independent planners, advisers
The Investment Management Consultants Association has been attracting more independent planners and advisers.
Mr. Wirehouse CEO, tear down your wall
If you are a regular reader of InvestmentNews, you may have noticed that we rarely quote wirehouse advisers…
The ups and downs of going independent
If Charles Massimo had it to do all over again, he still would choose to leave Smith Barney and become an independent broker.
Relationships are king
Asset management might be at the heart of what drives an individual toward financial advice, but savvy financial planners are realizing that it takes more than asset management to bring lasting value to the advisory relationship.
UBS, 2 reps hit with rare award on punitive damages
A stunning $4.6 million award against UBS Financial Services Inc. and two of its brokers late last month revealed how irate the arbitrators were with UBS.
Morgan Stanley changes pay policies
Morgan Stanley is adjusting some of its pay policies to comply with a wage-and-hour lawsuit it settled last year.
The F word war
I would like to respond to recent comments of Sallie Krawcheck, chief executive of Citigroup Inc.'s global-wealth-management division, as quoted in "Krawcheck: Accept the F[iduciary] word" (InvestmentNews Daily, Nov. 8.).
Merrill, Morgan reps wait on fee conversion
Some brokers at Merrill Lynch & Co. Inc. and Morgan Stanley have been hesitating to use new advisory options that their firms have deployed as replacements for fee-based brokerage accounts.
Indies seeking an edge in fight for breakaway reps
Registered investment adviser and independent-contractor-broker-dealer firms looking to attract high-producing wirehouse brokers are increasingly seeking to differentiate themselves in a crowded and competitive marketplace.
Brokerage turmoil hits reps in pocketbook
As stocks of the large financial services firms get hammered, more brokers could be tempted to leave.
Moody’s on Fidelity: A mixed bag
Fund giant's Aa3 rating makes it a low credit risk, but Moody's still worries about transparency.
Merrill bleeds more subprime losses
The firm has upped its subprime-mortgage losses to $27.2 billion, $6.3 billion more than earlier reported.
