Portfolio

The fact that clients don’t always divulge all their personal financial information to their financial advisors comes as no surprise. The questions that need to be answered, however, are: how many clients, what is being withheld and why are they so secretive?

The Securities and Exchange Commission today sanctioned a former portfolio manager at a Boulder, Colo.-based investment advisor for forging documents and misleading the firm’s chief compliance officer to conceal his failure to report personal trades.

BLOOMBERG -- The rate New York state and its local governments pay to the $160.4 billion pension fund will drop for the first time in five years, Comptroller Thomas DiNapoli said.

Banks and credit unions are seeing high single-digit growth from their programs. They want more and the opportunity is there, says LPL’s Rob Comfort, as the industry is just beginning to tap the potential in providing investment advice.

Some advisors are great at strategic planning for others, but never plot out an ideal future for themselves.

The rate New York state and its local governments pay to the $160.4 billion pension fund will drop for the first time in five years, Comptroller Thomas DiNapoli said.

As real estate recovers, non-listed REITs are soaring, but they haven’t been much of a hit with customers of Merrill Lynch.

The advisory industry is already locked in fierce competition to recruit new advisors. Now TD Ameritrade Institutional is ratcheting up its efforts to attract talent.

OppenheimerFunds and Putnam Investments are among the winners of the 2013 NOVA Awards, which recognize innovation in the investment management industry.

Senator Ben Cardin, D-Md., a member of the Senate Finance Committee, has written to Treasury Secretary Jack Lew and Acting IRS Commissioner Daniel Werfel, urging them to quickly resolve and clarify the tax implications for legally married same-sex couples and those in civil unions.