News Feed

RBC Wealth Management, a division of the Royal Bank of Canada , said on Tuesday it hired four veteran Morgan Stanley Smith Barney brokers in Texas, including a top Morgan Stanley bond salesman.

Six teams officially joined HighTower in the first quarter, all transitioning from wirehouse firms, while an undisclosed number of others are now in the transition process. In 2011, a total of nine teams transitioned to HighTower.

“SIFMA’s views are not supportable and would make a mockery of the fiduciary standard,” according to The Institute for the Fiduciary Standard in a letter to the U.S. Securities and Exchange Commission.

La Jolla, Calif.-based alternative mutual fund provider Altegris will launch a new "R" share class on May 1 to four of its private placement funds.

So what does it take to build a successful franchise in the asset management space?

The regulator cited the Egan-Jones Ratings Company and its president Sean Egan for “material misrepresentations and omissions” in its 2008 application to become a national ratings agency.

Bank of America Merrill Lynch, which has suffered a wave of senior defections to rival UBS in recent weeks, hit back by hiring one of the Swiss bank's top executives, Alex Wilmot-Sitwell, on Wednesday.

If you want to ace your examinations by the U.S. Securities and Exchange Commission, remember these three phrases: fund governance, fraudulent activities and performance and advertising.

On April 24, Thomas Schreier, vice chairman, wealth management, Nuveen Investments, delivered a keynote speech at the Money Management Institute Annual Convention.

The Dow Jones Industrial Average rallied up 74.39 points to close at 13,001.56 but the tech-laden Nasdaq posted its fifth loss in a row, falling 8.85 points to finish at 2,961.60 ahead of Apple’s blowout earnings report.