In order to take on the big boys of the independent broker-dealer market, some growing middle-tier firms are offering souped-up compensation packages in place of or along with big upfront checks.
An online-access snafu put a glitch in Linsco/Private Ledger Corp.’s plans to compete with the largest firms in the industry and left 7,000 financial advisers unable to place trades, view accounts or perform other routine tasks for most of last week.
Coby Brooks, the son of the late founder and owner of the Hooters restaurant chain, is in an estate battle with his father's widow, arguing that a commonly used estate law is unconstitutional.
As the Financial Industry Regulatory Association’s arbitration system faces mounting criticism for being too costly for investors, some industry observers are countering with a little-discussed fact: Investors routinely fail to pay a large portion of their securities arbitration bills.
Intensifying its recent focus on protecting retirees, the Financial Industry Regulatory Authority began last month a sweep of broker-dealers focusing on the use of exemptions in the tax code to withdraw money from retirement accounts for clients before they reach 59½.
Assets under management for the average SEC-registered investment adviser are expected to leap 256% to $1.6 billion by the end of 2012, from $449.6 million at the end of 2006, according to a study that will be released tomorrow.
The SEC has settled with General American Life Insurance Company and a former executive for late trading.
Borrowers just above subprime are reporting more residential mortgage delinquencies, according to AIG.
FINRA is sweeping B-Ds looking for improper early withdrawals from client retirement accounts.
Bear Stearns is being sued over the now-infamous failure two of its hedge funds, published reports said.
