Grand Prix Fund's one day sales charge break on January 15 brought in $1 million more in new assets than expected. For the one day, Target Investors, the fund's adviser, slashed the fund's front-end sales charge to one percent from a maximum of 5.25 percent. The company had expected to attract about $3 million to the fund which stood at $10 million in assets prior to the sale.
The company's investment advisory subsidiary was dinged for failing to properly disclose that its allocation of certain client assets represented a conflict of interest.
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Ameriprise's proposal to raise CEO James Cracchiolo's total compensation by 8% would put him far ahead of many of his direct counterparts at regional firms.
Commonwealth was hit with the landmark penalty over its advisors' mutual-fund recommendations the year before its acquisition by LPL Financial. But it will pay only a fraction of that now.
A new study finds that the industry's efforts to recruit more women is paying off — but it will take further investments to reap the potential business opportunities.
Oil-driven volatility is fueling client anxiety, but advisors say steady messaging helps keep clients invested.
