A Massachusetts-based registered rep for a MassMutual subsidiary was charged with wire fraud after allegedly swindling two elderly investors.
The Securities and Exchange Commission has announced that it will begin contacting investors to make sure they have the assets their investment advisers are reporting.
Terms such as “fiduciary duty” and “suitability” contribute to investor confusion, and they should be replaced by a “universal standard of care” for brokers, says SIFMA.
Advisers need to bolster their sales efforts to snag new clients since most advisory firms’ sales are down 10% to 40%, one industry expert told advisers at the Financial Planning Association’s Business Solutions conference at the Chicago Westin.
Your wealthy client, age 72, has a sizable individual retirement account and is wondering whether to make charitable contributions from the IRA in 2009.
Only two of the top 100 largest foundations have said they plan to increase giving this year, according to a new report from the Foundations Center.
Investment advisory firms should be able to hold custody of client assets so long as advisory functions are separated from custodial functions, according to the Investment Adviser Association.
Unless an investor had held an investment for more than a decade, they lost money in last year’s market collapse, according to a study released today by Dalbar Inc.
Locke Capital Management Inc. and its chief executive, Leila Jenkins, lied repeatedly to customers by inventing clients who supposedly lived in Switzerland and had more than $1 billion in assets, the SEC charged today.
Stifel Financial Corp. said Monday it plans to buy back all auction rate securities held by its retail investors, who bought them prior to the collapse of the ARS market in February 2008.
Advisers need to familiarize themselves social networking websites, as younger individuals are poised to inherit a significant amount of wealth, said Microsoft exec Craig Saint Amour.
A prominent group of registered investment advisers, angered by Charles Schwab & Co. Inc.'s recent decision to stop accepting custody of alternative investments, are threatening to move other assets from the San Francisco-based company.
Investors' voracious appetite for gold has started to skew valuations of the asset, leaving some advisers and money managers at odds over how best to use it in a portfolio.
House Financial Services Committee Chairman Barney Frank called yesterday for creating an optional federal charter for life insurance companies.
The nation's unemployment rate bolted to 8.1 percent in February, the highest since late 1983, as cost-cutting employers slashed 651,000 jobs.
Fiserv Inc. served as custodian for the self-directed IRAs of about 800 people who invested with Bernard Madoff.
Insurers’ delay in paying out claims was the most common complaint from consumers last year, according to the National Association of Insurance Commissioners.
Sales of fixed annuities climbed to $107 billion last year, up 60% from 2007, according to the Beacon Research Fixed Annuity Premium Study.
Ameriprise Financial Services Inc. is among the four suitors expected to put in a bid for American International Group Inc.’s broker-dealer businesses by the end of the month, according to The Deal.
Consumer borrowing rose unexpectedly in January after three months of declines.
