- Money Management Executive
Brokerage firm A.G. Edwards indicated in an SEC filing this week that it expects its revenue to decline as a result of the ban on directed brokerage by mutual fund companies, the St. Louis Post-Dispatch reports. The firm did not disclose, however, how much of a decline it expects, although it did say that in combination with other regulations, the changes could have "significant and adverse" effects.
October 15 - Money Management Executive
Charles Schwab & Co. has joined the index mutual funds price war by temporarily slashing fees on a popular investment that tracks the Standard & Poor's 500 Index.
October 15 - Money Management Executive
An investigation into incorrect data posted on Morningstar's main Web site has spread to at least two other Internet-based financial news providers, The Wall Street Journal reports.
October 15 - Money Management Executive
The Securities and Exchange Commission last week subpoenaed mutual fund firm Gabelli Asset Management for possible improper trading, the company announced.
October 14 - Money Management Executive
Variable annuities are "insurance-based products that have no reason to live," Scott Burns recently wrote in a syndicated column. Burns is the Dallas Morning News columnist who notoriously dislikes variable annuities.
October 14 - Money Management Executive
T. Rowe Price Vice Chairman James S. Riepe has been named chairman of the Investment Company Institute, succeeding Paul G. Haaga, Jr., executive vice president of Capital Research and Management Co.
October 14 - Money Management Executive
Brokerage firm A.G. Edwards announced this week that the Justice Department is looking into possible improper trades at the company, Dow Jones Newswires reports.
October 14 - Money Management Executive
Despite recent events that may have eased some doubts, the public as a whole still has a great deal of mistrust in Wall Street, according to the chairman of the Securities and Exchange Commission.
October 14 - Money Management Executive
Despite efforts by shareholder advocacy groups to tamp down on mutual fund board members salaries, compensation packages of trustees at the 50 largest fund companies in the first two quarters increased by 8%, The Wall Street Journal reports.
October 13 - Money Management Executive
After seven consecutive months of aggressive investing, millionaires took a slightly more cautious approach last month, according to a recent report.
October 13