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The state and city of New York have sued BNY Mellon for using "fraudulent rates" to collect $2 billion in fees from public and private pension funds in foreign currency transactions.
October 4 - Money Management Executive
The state and city of New York has sued BNY Mellon for using "fraudulent rates" in collecting $2 billion of fees from public and private pension funds in foreign currency transactions.
October 4 -
A top official with the Labor Department defended the controversial plan to expand the definition of "fiduciary" to cover people providing advice to retirement plans on a commission-based model, a proposal strongly opposed by industry groups representing independent broker-dealers and advisors.
October 4 -
An advisors website is his or her most valuable piece of Internet real estate. TJ Gilsenan, the Web Savvy Advisor, explains not only why, but provides five important steps every advisor can take now to create and maintain a more effective website.
October 4
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Morgan Stanley Smith Barney has hired four new financial advisors from Bank of America Merrill Lynch and RBC Dain Rauscher.
October 4 -
Financial advisors are in huge demand among insurance companies that create the broad array of insured retirement income products. But if product creators want to succeed with that group, they need to get a few ground rules clear, a panel of financial advisors said during the Insured Retirement Institutes annual conference on Tuesday.
October 4 -
Touchstone Investments and Old Mutual Asset Management have entered into an agreement whereby Touchstone will acquire the $2 billion U.S. mutual fund business of Old Mutual, bringing Touchstone’s assets to nearly $10 billion. The deal will also add several new sub-advisors to Touchstone’s roster of fund managers.
October 4 -
When it comes to retirement income, clients are concerned about rising health costs, and they probably also should be concerned about long-term care, said a top executive of Merrill Lynch's Retirement Income Program, in a keynote address at the Retirement Income Industry Association's fall conference.
October 4 -
UBS's revised estimate marks a reversal from a September announcement that a $2.3 billion loss incurred from an unauthorized rogue trading incident could have resulted in a loss for the third quarter.
October 4 -
Investors appear to have switched gears from focusing on replenishing their balances from 2008’s market downturn to taking all of the responsible steps to prepare for retirement.
October 4
