A startup, LinkedFA, is described in a press release as the “first and only Finra-compliant social-networking site for financial professionals.” The site is supposed to be launched sometime in the coming weeks after it has its first 15,000 subscribers.
The House today killed a proposal that would have given the Financial Industry Regulatory Authority Inc. the authority to regulate investment advisers at broker-dealers.
Morgan Stanley Smith Barney LLC is entering into the recruiting wars with its guns blazing and is creating a potential pay package for new advisers that will match that of its rival Merrill Lynch & Co Inc.'s Global Wealth Management unit.
Regulations proposed last week by the Internal Revenue Service would leave brokerage firms little time to begin reporting cost basis information to customers.
In the wake of the alleged insider-trading ring involving hedge fund manager Galleon Group, compliance departments at asset management firms and broker-dealers are stepping up their vigilance.
With modifications to the systems at the Depository Trust and Clearing Corp., reporting of cost basis information is likely to become less of an issue with financial advisers — assuaging concerns that new requirements could make reporting more costly and cumbersome.
The focus for most advisers over the next three months will be on executing client reviews and completing the follow-ups. This is the most important service an adviser can perform for clients in today's market, so don't clutter your team's calendars with other activities. When done right, client reviews are an effective business builder.
Broker-dealers, mutual fund companies and fund custodians are updating systems to comply with the cost basis reporting requirements included in the Emergency Economic Stabilization Act of 2008.
Although costs are tight for many advisers, these types of client appreciation events remain extremely important — especially following last year's market collapse, which left many clients worried about their financial future.
Federal agents are seizing assets from a Florida lawyer suspected of orchestrating a multimillion-dollar fraud scheme.
The SEC today charged an unregistered hedge fund with operating a large-scale scheme that it said defrauded hundreds of investors millions of dollars.
It's very rare that an investor gets the expertise of an entire financial planning team, but at Budros Ruhlin & Roe Inc., that's exactly what they get.
For years, portfolio managers and financial reps around the country have used Modern Portfolio Theory in managing their clients' assets.
More than a dozen years later, Ryan Huey still remembers cornering the father of a college classmate and asking him for a summer job.
Adviser Curtis Smith doesn't have to worry about getting to the office; it comes to him.
A court ordered the Tokyo Stock Exchange Friday to pay 10.7 billion yen ($121 million) in damages to Mizuho Securities Co. Ltd. over massive losses in a botched transaction.
Although succession planning involves many decisions and alternatives, there is one outcome that is always an either/or option: Ownership of the practice will pass either to a family member or to an outsider.
Mention 401(k) to financial advisers and most will say that they lack the knowledge, resources and time to compete with the relative handful of those who specialize in retirement plan sales.
