Practice

Fidelity Investments yesterday reported its average 401(k) balance rose to $74,600 at the end of the first quarter

The 11th U.S. Circuit Court of Appeals in Montgomery, Ala., said a federal district judge in Atlanta erred in finding that the alleged misrepresentations made by Morgan Keegan brokers about the debt were not material. It sent the case back to the district court for more proceedings.

Proving that the competition is still strong for financial advisors from rival wirehouses, Morgan Stanley Smith Barney has snapped up two wealth advisory teams and one more for its Graystone Consulting institutional business.

Financial advisors sometimes puzzle over how to effectively reach and serve black and Hispanic clients. A Vanguard study released recently suggests they can start by drilling home a simple message: emergency savings accounts are a must.

About 85% of asset management firms and insurers have seen increased brand awareness on social media platforms, but many have yet to monetize the medium, according to a new study.

On May 2, 2012, Nationwide added a slew of funds to its anuity portfolio.

On May 1, Fidelity reported an average increase in its participants' 401(k) balances.

Joel Blumenschein, a Wisconsin RIA, has resigned from FINRA after settling a disciplinary case alleging he failed to supervise a broker at his firm.

UBS Financial Services Inc. of Puerto Rico and two of its executives have been charged by the SEC with misleading investors and its own financial advisors about the market risks associated with the sales of 23 closed-end mutual funds.

Perella Weinberg Partners has added former Morgan Stanley executive Michael McGrath as a partner in its asset management group.