It is tough to find a stock analyst or money manager with positive things to say about the financial services industry these days.
The Securities Industry and Financial Markets Association wants to delay the effective date of any new standard of care that the Securities and Exchange Commission may adopt for brokers giving advice to retail investors.
Among other things, GAO charged with examining professional standards that currently govern planners and advisers
Brokerage firm Wunderlich Securities Inc. plans to buy five RBC (U.S.) Wealth Management offices in Michigan and Ohio with 21 retail brokers and about $700 million in client assets under administration, the firms said.
Simple Alternatives LLC, a startup mutual fund company focusing on hedge fund investments for registered investment advisers and small institutions, has hired Bruce MacDonald, 41, as its chief investment officer.
A Florida investor is suing TD Ameritrade Inc. for allegedly allowing a financial adviser to steal more than $2.3 million from her brokerage accounts.
Jerry Pascucci, the chief investment officer for alternative investments at Morgan Stanley Smith Barney, is joining the U.S. wealth management unit of UBS AG to run alternatives for high-net-worth clients.
Flash crash exposed vulnerabilities in U.S. stock trading system, SEC's chairman says
The securities industry is worried that if the SEC imposes a fiduciary standard on retail brokers, they may lose their ability to sell initial public offerings to individual investors.
The Charles Schwab Corp. and Charles Goldman have agreed to meet with a private mediator next month to discuss the former executive vice president's demand for $736,000 in severance pay following his dismissal in 2008 as head of the firm's RIA business.
