Industry News

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NEWS INDUSTRY NEWS MAR 21, 2010
Dive into dividend investing to get best long-term returns

Dividend investing is one of the best long-term investment opportunities out there, and it looks particularly alluring right now.

Raymond James' Scott Brown: Existing home sales have potential to surprise
NEWS INDUSTRY NEWS MAR 19, 2010
Raymond James' Scott Brown: Existing home sales have potential to surprise

Unlike the numbers for January, any data showing lackluster home sales in February can't be fobbed off on the weather

NEWS INDUSTRY NEWS MAR 19, 2010
Judge tells 'free-riding' website to delay posting brokers' stock picks

Theflyonthewall.com gets zapped in federal court. That's no doubt good news for Merrill Lynch, Morgan Stanley and all the other firms that sell research to clients.

NEWS RETIREMENT PLANNING MAR 19, 2010
Alabama's 529 plan dumps Van Kampen

State decides to go with Union Bank and Trust, instead

Obama looks to crack down on abuses in 401(k) advice biz
NEWS RETIREMENT PLANNING MAR 19, 2010
Obama looks to crack down on abuses in 401(k) advice biz

A new proposal targeting tainted investment advice would affect millions of workers.

Insurers pan Obama's proposed tax on investment income
NEWS LIFE INSURANCE AND ANNUITIES MAR 19, 2010
Insurers pan Obama's proposed tax on investment income

The American Council of Life Insurers today blasted a newly floated tax proposal on unearned income — part of a series of suggested changes to the Patient Protection and Affordable Care Act of 2009.

Prospecting for clients? Try beer
NEWS RIAS MAR 19, 2010
Prospecting for clients? Try beer

Investment adviser Richard Feight admits he's not very good at brewing beer, but he's found that the hobby helped him build business connections and network with clients.

NEWS RETIREMENT PLANNING MAR 19, 2010
Anna Nicole Smith’s mess of a will attracts the attention of clients

The publicity surrounding the debacle of Anna Nicole Smith’s estate highlights the importance of careful estate planning, according to financial advisers, but the errors she made are quite common and are easily remedied.

NEWS WIREHOUSES MAR 18, 2010
How BofA is pitting some advisers against each other

We all know that Merrill Lynch and Bank of America were a shotgun marriage. Bernanke and Paulson were holding the proverbial shotgun to Mr. Lewis and Mr. Thain's heads and, poof, we have a humongous financial institution.

NEWS INDUSTRY NEWS MAR 18, 2010
Congress Asset Management buys Mass. firm Prelude

Congress Asset Management Co. in Boston announced the acquisition of Prelude Asset Management LLC in a deal that creates a $6.4 billion money management shop.

Brokers on the run at independent B-Ds
NEWS BROKER DEALERS MAR 18, 2010
Brokers on the run at independent B-Ds

A third of all moves in February came at indies.

NEWS RIAS MAR 18, 2010
Schwab: Advisers' clients are spending less, saving more

In a mixed sign for the U.S. economy, 59% of independent investment advisers surveyed by The Charles Schwab Corp. in late January said they expect consumer savings to increase during the next six months.

NEWS REGULATION AND LEGISLATION MAR 18, 2010
Judge tosses suit alleging Finra misled members

Two plaintiffs claimed that brokerages were misled about NASD's merger with the NYSE's regulatory unit. Apparently, Judge Jed Rakoff wasn't moved by their arguments.

NEWS RETIREMENT PLANNING MAR 18, 2010
Roth conversions taking off in 2010

Upper-income investors are taking advantage of a change in the tax law and rushing to convert their traditional individual retirement accounts or old 401(k) plans into Roth IRAs.

NEWS INDUSTRY NEWS MAR 18, 2010
Number crunching: The clearing firms the top indie B-Ds use most

NEWS INDUSTRY NEWS MAR 18, 2010
Finding opportunity in the Icelandic and Greek financial crises

Taken together, the Icelandic and Greek financial crises can be seen as the second stage of the larger global banking crisis.

NEWS LIFE INSURANCE AND ANNUITIES MAR 18, 2010
Will regulators kill off fledgling secondary market for death benefits?

State insurance regulators Monday voted in favor of a proposal that would allow carriers to terminate an annuity living or death benefit if a client sold the contract over the secondary market.

NEWS INDUSTRY NEWS MAR 18, 2010
E*Trade back on track, says analyst

E*Trade Financial Corp., which took a black eye from losses on its subprime mortgage holdings, is getting back on track by focusing on its roots as an online brokerage, an analyst said Monday.

NEWS INDUSTRY NEWS MAR 18, 2010
Number crunching: The ten B-Ds with the most $100K+ reps

NEWS REGULATION AND LEGISLATION MAR 18, 2010
Securities America advisers caught in the private-placement crossfire

Last week, Securities America Inc. was tagged with a lawsuit from Massachusetts regulators alleging that the firm misled investors who were sold high-risk private placements.