Displaying 2260 results
Jefferies books record banking revenues
Jefferies Group Inc. announced record quarterly investment banking revenues, net revenues, net earnings, and earnings per share, according to a statement released today.
Wells Fargo sees 11% profit hike
Wells Fargo & Co. posted an 11% increase in first-quarter profit, resulting from growth in lending and a higher-net interest margin, which set off increasing credit losses.
TD Ameritrade takes 2Q fall
TD Ameritrade Holding Corp. posted an 18% drop in second-quarter net income today, one year after the company recorded its largest one-time gain.
Smith Barney not for sale, executive says
Along with the layoffs and cost cutting unveiled last week by Citigroup Inc. came rumors that the company’s Smith Barney brokerage unit was destined for a spinoff.
Morgan Stanley wins reps over
A year after taking over retail at Morgan Stanley — amid much skepticism — James Gorman has made believers out of most of the firm’s troops.
Fundamental differences over Schwab funds
Charles R. Schwab last week called the fundamental indexes underlying his company’s three newest mutual funds “a better mousetrap,” but The Vanguard Group Inc. and Barclays Global Investors smell a rat.
Merrill bars non-clients from research
Merrill Lynch & Co. analysts are mad as hell that people are simultaneously belittling and stealing their investment ideas, according to Crain's New York Business.
OptionsXpress reshuffles execs
OptionsXpress Holdings Inc. announced today that it promoted its chief financial officer to the role of president and its chief operating officer to the role of executive vice-chairman, according to published reports.
Morgan Stanley profits soar 69%
Morgan Stanley today posted a 69% increase in first-quarter profits on strong advisory fees from higher trading levels and increased investment banking fees.
Wachovia launches 4front client loyalty program
IRVINE, Calif. — In an expected move, Wachovia Securities LLC this month launched a client loyalty program called 4front.
Merrill seeks to expand in India
Merrill Lynch & Co. Inc. is planning to increase the scope of its Indian private banking business, with a focus on providing financial services to that country’s growing wealthy population, according to the Economic Times in India.
Indies are too tempting to be ignored
Intrigued wirehouse executives who are looking for a change are beginning to check out independent-contractor broker-dealers, and what they see interests them more and more, industry executives, consultants and recruiters say.
Schwab, Cambridge blend efforts
After 15 years of serving their common clientele separately, Schwab Institutional and Cambridge Investment Research Inc. are showing those dually registered advisers a united front in recruitment, service and reporting.
Wirehouse accounts don’t match client goals
In a huge survey of its clientele, Schwab Institutional documented what financial advisers have been screaming about for years.
Smith Barney finalizes broker pay plan
IRVINE, Calif. — In response to complaints from brokers, Smith Barney has tweaked the final version of its new pay plan.
CEO role not for Schwab’s McWhinney?
The Charles Schwab Corp.’s decision last week to position Walter W. Bettinger II as the likely successor to its founder and chief executive caught some financial advisers by surprise.
Referrals show Fidelity has more faith in RIAs
With the specter of millionare clients’ assets slipping through its fingers in a hot rollover market, Fidelity Investments is placing its high-net-worth strategy squarely on the shoulders of registered investment advisers.
Wirehouses warm to fiduciary status
In an effort to prevent top brokers from bolting, wirehouses quietly are backing down from their tough stance against allowing advisers to act as fiduciaries to employee retirement plans.
Merrill pads its lead in race for assets
Merrill Lynch & Co. Inc. continues to lead the wirehouse race for net new client assets.
Wachovia to unveil deferred-comp program
IRVINE, Calif. — Wachovia Securities LLC of Richmond, Va., is expected to roll out in coming weeks a significant new incentive program.
