Updated Friday, August 1, 2014 as of 8:22 PM ET
SEC Charges Broker With Bilking Elderly Clients
The SEC charged an ex-UBS broker with falsifying statements and stealing $730,000 from elderly clients, some of whom were legally blind.
Authorities said the Roanoke, Va.-based broker, Donna Jessee Tucker, allegedly defrauded nine clients by either stealing their money or falsifying their financial documents from 2008 to 2013. She was alleged to have used the money to pay for vacations, a country club membership, three vehicles, clothes and other personal expenses.   more »
More in Practice
Raymond James has picked up a UBS advisor team that had annual fees and commissions of about $1.9 million. more »
The Fed is trying to change as little as possible as it crafts its strategy to exit from record stimulus. The trouble is financial markets have changed so much that the still-developing plan may prove costly and ultimately unworkable. more »
Sens. Sherrod Brown, D-Ohio, and David Vitter, R-La., continued to press their case over "too big to fail" in the wake of a new government report that raises fresh questions about the size of a market subsidy for the largest institutions. more »
Most bankers expect to see deposits flow out of their coffers next year if interest rates rise as expected, and some are starting to estimate how many. Whether the trend is good or bad depends on each bank's specific situation, but everybody has to get ready. more »
4 reasons not to panic about Social Security; The role of bonds in a portfolio; Education trumps retirement for single parents, and that's a cause for concern more »
Derek Bruton takes the top job at a firm with historical ties to an advisor that the SEC has barred from the industry. more »
In response to online rivals, Mark Cortazzo created a passively managed portfolio service and offered it on the Web. more »
Focus Financial Partners named Dan Sontag, a former president of Merrill Lynch's global wealth management unit, to its board of directors. more »
Wunderlich Securities picked up an advisor with $70 million in client assets from Raymond James & Associates. more »
'I think an entry by Schwab may be more of a threat to established advisors by putting even more downward pressure on fees,' says Grant Easterbrook, Corporate Insight analyst. more »
A new study finds substantial savings and comfortable retirements when defined contribution plans are combined with Social Security income and lifestyle changes. more »
It's a busy recruiting season for Wells Fargo, which announced that it has added four wirehouse advisors managing about $450 million in assets. more »
A pair of new studies released this week find that planners' biggest concerns now center on a potential equity market downturn. more »
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