Industry

Complexity and inconsistency within the tax code continue to be a major problem for small businesses, with one out of four small businesses reporting that they need to spend 120 hours or more per year on the administration of federal taxes, or three full work weeks, according to a new survey.

Pimco's 0-5 Year High Yield Corporate Bond ETF reported $204.1 million of inflows on April 8, the same day the SPDR Barclays High Yield Bond ETF recorded its second-biggest daily redemption since its inception more than five years ago, equal to about $378 million worth of shares, Bloomberg reports.

Edward Jones uses “questionable telemarketing” tactics to recruit customers, according to New Hampshire regulators.

RBC Wealth Management added a branch manager with three decades of experience to its Denver Tech office.

Envestnet announced Friday it has entered into a definitive agreement to buy the wealth management solutions arm of Prudential Investments in an effort to increase scale.

After the successful completion of the Morgan Keegan technology integration, the firm is eliminating 160 positions due to overlap in the information technology segment.

The appointment should help enhance equities research offerings for the Private Client Group, the firm said.

Horizons ETFs Management (USA), a subsidiary of Seoul, Korea-based Mirae Asset Global Investments Co. has appointed Joe Cunningham as Head of Capital Markets for Horizons USA.

The burgeoning influence of financial advisors in the United States was a repeated observation at this year's Tiburon CEO Summit at New York City's Ritz Carlton in Battery Park. Here are 11 themes we heard at the two-day event encompassing 200-plus executives and advisors.

“As investor confidence grows and perceptions of wealth management firms improves, so do advisor perceptions of their firm, particularly among independent advisors,” the J.D. Power study reported.