As the Department of Labor considers improving fee disclosure to retirement plan participants, some vendors and advisers are racing to offer more information to 401(k) participants, while most are content to wait for a directive.
Despite its pending acquisition by a unit of Power Financial Corp., Putnam Investments continues to face an uphill battle in its bid to regain the trust and confidence of financial advisers.
Charles “Ed” Haldeman Jr. said that it’s “fine” with him if his soon-to-be bosses at Canada’s Power Financial Corp. want to replace him as chief executive of Putnam Investments.
PHILADELPHIA — Distressed debt can be risky, but that hasn’t stopped investors from turning to it in search of extra yield, industry observers say.
Other banks may follow Bank of America Corp.’s decision this month to cut mortgage clients’ borrowing costs drastically, including waiving the requirement for private mortgage insurance, industry observers say.
Now that the Financial Planning Association’s victory over fee-based brokerage accounts is cemented, some in the securities industry are wondering whether the group will take aim at other brokerage transactions that hinge upon a registered representative giving clients advice.
State-level budget pressures are fueling an investment bonanza for those firms with the resources and wherewithal to tap into a fast-developing market of infrastructure investments.
Brokerage firms, preparing to transition existing customers into alternative fee programs, are putting the freeze on new fee-based brokerage accounts.
LOS ANGELES — Fueled by a flood of money from private-equity firms buying local businesses as well as a spectacular appreciation of real estate values, California’s Orange County has emerged from the shadows of neighboring Los Angeles as a wealth management powerhouse in its own right.
Bank of America Corp. has been sued for race discrimination by allegedly steering wealthy clients to white co-workers.
