Royal Bank of Canada may use proceeds from the $3.62 billion sale of its money-losing U.S. consumer bank to expand in global asset management.
As the financial advisory industry continues to evolve, more investment professionals and firms are embracing the hybrid registered investment adviser model.
Berkshire Hathaway Inc.'s Gregory Abel, considered a candidate to succeed Chief Executive Officer Warren Buffett, got a promotion and the prospect of greater visibility with the resignation of his mentor, David Sokol.
Bill Gross, who runs the world's biggest bond fund at Pacific Investment Management Co., said Treasuries “have little value” because of the growing U.S. debt burden.
After the financial markets see-sawed through several distinct phases for much of 2010, investors gradually regained confidence late in the year and stocks rallied as mixed economic indicators became more positive.
After five years, financial advisory firms move from the startup stage to adolescence, where they are faced with decisions that could affect their business for the next 20 years.
Municipal-bond dealers failing to adequately disclose the risks of debt they handle should expect more disciplinary action, said Malcolm Northam, senior director of member regulation at the Financial Industry Regulatory Authority.
The largest U.S. broker-dealers may be asked to pay more than $1 million a year to fund annual inspections required by the Dodd-Frank Act, according to a proposal by the panel that oversees public-company audits.
Howard Stein, who succeeded Jack Dreyfus at the helm of the Dreyfus mutual-fund company and helped turn a generation of Americans into investors, has died. He was 84.
