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"My expectation is that a lot of firms are going to continue installing a best-interest standard, regardless," said Brian Graff, CEO of the American Retirement Association.By Zeke FauxFebruary 3
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Black employees at the firm say lucrative client accounts were often steered toward financial advisers who weren’t black.By Zeke FauxJanuary 3
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William Heinzerling, who has led Stifel’s fixed-income business since 2009, is leaving the firm, according to people with knowledge of the matter.By Sridhar NatarajanJune 8
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Deutsche Bank plans to sell its U.S. private-client brokerage unit, according to people briefed on the matter.By Zeke FauxOctober 15
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Small investors will be forced to leave the brokerage firms, Ron Kruszewski says, adding that the plan will increase costs and reduce choices for the smallest investors."By Zeke FauxJune 9
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Barclays may fetch $150 million to $250 million for its U.S. wealth unit, according to analysts at Credit Suisse Group.By Zeke FauxJune 1
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A Stifel-Sterne Agee merger would dwarf other moves made last year.February 20
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Money managers and brokers shunned Barclays Plcs dark pool, and Chief Executive Officer Antony Jenkins pledged an urgent inquiry, after the bank was accused of lying to clients about high-frequency trading on the venue.By Zeke FauxJune 26
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Bank of America Corp. and Wells Fargo & Co. were fined by the Financial Industry Regulatory Authority over sales of loan funds.By Zeke FauxJune 4
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Royal Bank of Canada was ordered to pay more than $800,000 to a U.S. couple over their losses on investments including Lehman Brothers Holdings Inc. preferred stock.By Zeke FauxMay 31