Industry

The 20th anniversary is fast approaching of the launch by State Street Global Advisors in 1993 of the first investment fund that could be traded throughout the day like a stock.

Goldman Sachs Group Inc., which is scheduled to announce its new class of partners next week, has 407 members of that elite group, down 31 in about nine months, according to a company filing.

A win by Mitt Romney in tomorrow’s U.S. presidential election is more likely to boost Wall Street compensation than if voters re-elect President Barack Obama, according to a survey conducted by eFinancialCareers.

TD Ameritrade Institutional drew a record 441 breakaway brokers to its platform for independent registered investment advisors in fiscal 2012, a 27% increase from a year earlier.

Franklin Templeton Investments' parent Franklin Resources has effectively expanded its alternatives offerings.

Mid-sized banks that mostly let Wall Street and small firms speak for the industry during the debate over the Dodd-Frank Act have decided it’s time to carve out their own agenda in Washington.

Among the big deals this week: First Allied buys Legend from Waddell & Reed to form a firm with $28 billion under management.

Jonathan Blackwood joined as a senior private banker, while David Noosinow joined as senior sales director to help develop business throughout Georgia and in Lexington and Louisville, Ky.

The NASDAQ's parent group is acquiring a new index provider.

Pulling from Wells Fargo and Raymond James, the firm has added three advisors with over $200 million in AUM.