Practice

It’s perhaps the ultimate irony when a financial advisor files for bankruptcy. But the CFP Board finds it is happening more and more often. Of 103 disciplinary hearings the board held last year, an estimated 25% of planners involved had filed for bankruptcy. In 2011, that number jumped to about a third.

Fidelity has rolled out the next-generation of its Fidelity Investments for iPad app, available for free at the App Store or by updating an existing Fidelity iPad app.

Banks may be on shaky ground, but 43% of Americans see them as a trusted source for retirement advice, according to a survey by Hearts & Wallets. This is an increase from 41% a year ago.

Investors and financial executives are increasingly feeling overloaded by the volume and complexity of financial disclosure information in annual reports and other financial filings, according to a new study.

UBS Financial Services Inc. was fined $300,000 by FINRA for failing to supervise and prevent excessive cross-trading of municipal securities between the customer accounts of one broker for a two-year period.

Bank of New York Mellon said it would cut $650 million in costs over the next three years and be prepared to settle disputes involving its fees for foreign exchange transactions.

More than a third of high-net-worth individuals don't have confidence in their beneficiaries to handle their inheritance responsibly, according to a new study by Barclays Wealth.

Banks may be on shaky ground, but 43% of Americans see them as a trusted source for retirement advice, according to a survey by Hearts & Wallets. This is an increase from 41% a year ago.

The Chase unit recommended risky investments to unsophisticated investors with little or no risk tolerance, FINRA said.

Not all Wall Street professionals will see a pay cut. Advisors and private bankers working directly with high net worth clients will likely see bonuses that are flat or even 5% higher.