SEC Commissioner Elisse Walter endorsed a uniform fiduciary standard for all investment pros
then invited her audience to fight industry fraud and abuse by becoming whistleblowers
NAPFA named management consultant Geoffrey Brown on Monday as its new CEO, succeeding Ellen Turf, who held the post since 2002.
Bank advisors producing $120,000 in revenue had an average payout of 20% last year; those producing more than $2 million averaged 41%.
Only about 2,100 SEC-registered investment advisors switched their registration to state oversight, according to the North American Securities Administrators Association -- roughly half the number that the SEC estimated would switch as a result of the Dodd-Frank Act.
The firm completed a round of financing and added two new directors to focus on recruitment.
Janney has picked up a former Morgan Stanley duo with over $1.5 million in production.
The Securities Industry and Financial Markets Association named former New Hampshire governor and U.S. senator Judd A. Gregg as its next chief executive officer. Gregg is known for advocating bipartisan approaches to balancing the national budget.
The Financial Industry Regulatory Authority will present the latest on fiduciary rules, enforcement and other issues affecting financial advisors at its annual three-day annual conference opening today in D.C.
Sales of corporate bonds in the U.S. are surging toward the busiest May ever as borrowers race to the market before demand dries up with Bill Gross and Warren Buffett cautioning against buying debt at all-time low yields.
Credit Suisse has filed with the SEC to launch the Gold and Income Strategy Fund, which will be available in institutional shares
ETF flows in the second quarter continued at almost the same torrid pace as they did in the first quarter and seem well on their way to adding $200 billion in new investor funds in 2013.
Barry Evans has been named president of John Hancock Asset Management North America.
Fidelity Investments has rolled out a smartphone application for NetBenefits 401(k) plan participants.
The municipal bond market may benefit from the shake-up at the Internal Revenue Service as the newly named acting commissioner Daniel Werfel has close ties with state and local governments and is viewed by market groups as a strong ally.
Aside from an $800 million New York City general obligation refunding planned for Wednesday, there will be few large deals to grab investors' attention in the municipal market this week as approximately $5 billion in new issuance is expected on the heels of a quiet end to last week's activity.
The House passed a controversial bill on Friday requiring the Securities and Exchange Commission to conduct additional economic analysis on its rules.
A U.S. District Court ordered a former Ameriprise advisor to serve a year of house arrest and pay restitution for defrauding a client.
Debralee Nelson, a recruit from J.P. Morgan Chase, will drum up business among ultra-high-net-worth clients in the New York Tri-State region.
The face of the advisor will change. Theres going to be a large cohort of retiring advisors and young advisors. They are going to be more diverse, and more will be working part-time. We have to adapt services to the new demand, and develop tools to communicate and interact with advisors.
Despite other hearings being held in Washington this week of a more political nature, its nice to know that the Ways and Means Committee is continuing to search for ways to make life easier for small businesses, at least as far as complying with the Tax Code.