Investors withdrew $10.7 billion from fund companies implicated in the scandal in the last four months of 2003, but rewarded competitors with clean records, Dow Jones Newswires reports.
Meanwhile, asset managers that kept their noses clean were rewarded by an influx of cash, according to the report, based on
Swiss banking giant UBS Group received federal approval from the Office of the Comptroller of the Currency to convert its $1.6 trillion-asset UBS Bank USA from a Utah-chartered industrial bank to a national charter.
Women often feel talked down to when it comes to financial matters. Advisors with experience serving women clients say the industry has a lot of work to do to change this.
LPL's board proposed a huge boost to CEO Rich Steinmeier's compensation package following a year defined by the firm's acquisition of Commonwealth Financial Network.
Middle- and lower-income retirees face a growing gap between income and long-term care expenses, forcing advisors to rethink planning strategies.
The National Legal and Policy Center has successfully urged companies like Goldman Sachs and American Express to remove DEI from their board selection process, but now it argues that SEC actions are restricting shareholder rights too much.
Andrea Bethune contends in federal court that Carson Group moved her into a new role to make way for a woman 20 years her junior. Eventually, her position was eliminated.
