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Plan sponsors need to be aware of what will happen to 401(k) plan loans now that rates have gone up.

Avenue Credit Strategies Fund, a high-yield fund run by Marc Lasry’s Avenue Capital Management, put about 45% of its portfolio into cash earlier this week.

Higher interest rates will be a welcome relief for retirees who live on income from bonds, CDs and money market funds; Plus, clients should not assume their former employers will manage their 401(k) assets after they resign.

Four scenarios are possible. Here’s the most likely.

The two wirehouses are taking different approaches in their comp plans for next year, with one aiming to herd its more senior advisors away from smaller accounts.

Contributions to donor-advised funds before year's end can help clients who need to claim bigger deductions to reduce their tax bills. Plus, tax-savings opportunities clients may want to grab before they're gone for good.

Tammy Petersen will be on federal probation for three years and will have to complete 200 hours of community service for embezzling more than $118,000 from Bank of America customer accounts.

State Street said it incorrectly invoiced at least $200 million in asset servicing expenses to clients over a period of 18 years and will compensate customers.

With the decade-long wait for higher U.S interest rates finally ended, investors are piling into the dollar.

BlackRock’s $114 billion alternatives business, which also includes private equity, infrastructure and funds of hedge funds, is among its most lucrative.