Concerns about computer programming problems associated with the switch to the year 2000, the so-called Y2K problem, is prompting some shareholders to consider redeeming fund shares. A survey sponsored by DeRemer + Associates of Wrentham, Mass. and Prince & Associates of Shelton, Conn., found that about 14 percent of approximately 1,000 mutual fund shareholders surveyed would consider selling fund shares by the end of the year because of concerns about possible disruptions at the turn of the century.
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Terri Kallsen will precede him next year as chair of the Board of Directors; Seay will take over that role in 2027.
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The popular industry recruiting and retention barometer provided another window into the challenges facing LPL Financial with its latest major acquisition.
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The Wall Street powerhouse has built its wealth division in large part through big deals but is not "looking to make acquisitions just for the sake of it, " said CEO Ted Pick.
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But the Bank of America subsidiaries nonetheless reported rises in AUM and net revenue in the second quarter while adding thousands of new client relationships.
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The accusations led to the end of 16 years at the firm.
July 15 -
In an earnings call Tuesday, CEO Charlie Scharf credited brokers in the firm's branches for working with consumer bankers for a 10% increase in new assets.
July 15