Portfolio

Years after being barred from the industry by FINRA, a former LPL broker is heading to prison for embezzling more than $250,000 from mostly elderly clients.

The majority of money gathered by Gross’s new fund at Janus Capital Group came from the same Morgan Stanley brokerage where his personal financial adviser works, according to the Wall Street Journal.

Many firms manage the distribution of summary prospectuses and upkeep of the related websites in-house via a painstaking manual process. However, these firms may not be aware of how much this effort is costing them and whether they are truly complying with Rule 498 and delivering a positive investor experience.

The majority of money gathered by Gross’s new fund at Janus Capital Group Inc. came from the same Morgan Stanley brokerage where his personal financial adviser works, according to the Wall Street Journal. The wealth-management office in La Jolla, Calif., routed about $700 million to Gross’s fund in October and November, the newspaper reported yesterday.

To meet the cultural challenges of merging the operations of a bank and RIA, Beacon Trust keeps the businesses separate with the advisors at a different location.

Vanguard Group plans to offer its first ETF focused on the $3.6 trillion U.S. municipal-bond market.

Vanguard Group Inc. plans to offer its first exchange-traded fund focused on the $3.6 trillion U.S. municipal-bond market.

Since transferred assets are required to be placed in low-risk investments, account holders are likely to end up with negative returns after IRA providers deduct the fees.

The former lead counsel in the board's defense of its case against two Florida planners has moved in-house as general counsel.

Stock buybacks can boost shareholder value, but they're not always what they seem. Make sure your clients understand the bigger picture.