After losing costly battles with three former brokers last month, Banc of America Investment Services Inc. is now on the hook for $1.63 million.
Scott Barkow, an adviser with Raymond James & Associates Inc. of St. Petersburg, Fla., isn't happy about the challenging economy and how it could hurt new business.
Although brokers have welcomed the billions in auction rate securities buybacks announced by the big Wall Street firms in the past two weeks, they are still angry that it took six months for their companies to begin dealing with the fiasco.
New York Attorney General Andrew Cuomo’s probe into the industry's selling of auction rate securities has widened.
Products that combine equity exposure, income generation and volatility protection may grow more popular among advisers, according to a retirement product executive.
Younger workers are saving for retirement but fear that they aren't saving enough and that benefits such as Social Security will be cut before they are ready to retire, according to a new study.
The dollar continued its rise, gaining ground against the euro and rising to a nearly two-year high against the British pound.
New York Attorney General Andrew Cuomo will investigate Merrill's connection with the freezing of the ARS market.
The Reuters/University of Michigan survey fell to a reading of 61.7 in August, compared with 61.2 in June.
The redemptions were triggered by an 8% drop in U.S. stock indexes in June, followed by further deterioration in July.
