Practice

For many employees faced with the prospect of having to save for rising healthcare costs and for retirement, it's important to understand that it doesn't necessarily have to be an either/or decision.

Practice management tips to gain visibility and get you recognized as an expert.

BNY Mellon said it launched an app that will let its institutional customers move cash and securely access key reports and account information from iPad tablet computers.

Sixty-seven percent of America’s middle-income Baby Boomers expect that their retirement experience will be drastically different from their parents’, a survey by the Bankers Life and Casualty Company Center for a Secure Retirement found.

Ever wonder how much it might cost to properly promote a book or one big initiative? Given the importance of either scenario, you may decide it makes sense to work with a PR firm. You have a lot at stake and should make the most of things.

Sixty-seven percent of America’s middle-income Baby Boomers expect that their retirement experience will be drastically different from their parents’, a survey by the Bankers Life and Casualty Company Center for a Secure Retirement found.

On the one-year anniversary of the Dodd-Frank Act, Democratic lawmakers and key financial regulators called on Congress to resist Republican efforts to cut funding to implement and enforce the law's sweeping new regulations.

Sharing too much and assuming that you always know what is best are among the surefire ways of pointing clients to the door.

Americans are showing resilience in the aftermath of the financial crisis, but their advisors report that they are not doing a good enough job of saving or living within their means, Principal Financial found in a survey of 632 advisors. Only 10% of the advisors surveyed said their clients are able to easily visualize their financial dreams.

Broker Suspended for Excessive Trading in Mutual FundsBy Tom Steinert-ThrelkeldAn Arizona broker has been suspended for excessive trading in mutual funds.William Bailey, formerly a broker with the NEXT Financial Group in Mesa, Ariz., has been put on the sidelines for two years by the Financial Industry Regulatory Authority for switching customers in and out of mutual funds, for average of two months per investment.Bailey also engaged in discretionary trading without receiving prior written approval from his customers, the independent regulator of brokers said.Bailey recommended 484 short-term switch transactions in seven customer accounts, in 2006 and 2007, FINRA said. He “repeatdly sold mutual funds less than one year after purchasing them, and purchased new mutual funds with the proceeds,’’ the regulator said.With the frequent switches, his customers held their mutual funds for only 60 days, on average. The seven customers ranged in age from 66 to 93 and “were all unsophisticated investors,’’ FINRA said.Bailey could not be immediately reached for comment.FINRA said the customers paid more than $147,000 in sales charges and trading fees. Bailey received more than $120,000 in commissions, from those payments.Bailey, the regulator said, frequently traded in his customers' accounts without first obtaining their permission and improperly completed customer account forms to make it appear the customers approved of the trading. “Bailey rapidly switched his elderly and unsophisticated customers in and out of mutual funds with high costs, providing a benefit to Bailey instead of to his customers,’’ said Brad Bennett, FINRA Executive Vice President and Chief of Enforcement, In settling the case, Bailey neither admitted nor denied the charges, but consented to its findings, FINRA said.An Arizona broker has been suspended for excessive trading in mutual funds.