Practice

The commission's new risk alert focuses on fees and expenses and amplifies its focus on disclosures and compensation structures.

"If our profession truly cares about the well-being of our clients to the extent that the profession professes, then we need to swing this pendulum in the other direction," Elwyn says.

Like selling a car, asset managers can list their products’ specifications, but that isn’t always enough.

The firm warned Friday that it may take a charge of as much as $1 billion to settle a U.S. probe of its consumer business.

Assets topped $6 trillion as investors continue to move money into passively managed funds.

Collaboration is key to the effort since there “is no competitive advantage to be the only firm engaged in data protection."

Fraudsters call seniors and get them to provide their Social Security number or pay a "processing fee" for the new Medicare card.

Former CEO Mark Casady disclosed in arbitration testimony what led to the firing that resulted in a $30 million claim against the firm.

Tom Thives, a 34-year industry veteran, will head up the firm’s offices in New Jersey.

The payout brings the distribution to more than $1.2 billion, a fraction of the more than $50 billion scam.