Economy

Five firms agreed to pay $3 million to settle an SEC investigation into unsuitable sales of complex exchange-traded products.

While FINRA rules spell out what brokers generally need to determine a client's financial situtation, there can be gray areas, an expert says.

Executives provided advisors an update. The company has separately said it cut more than 200 retail branches at the end of last month.

The 40-advisor OSJ brings more than double the assets of any other new group unveiled across the IBD network in 2020.

But the regulator also ordered record payouts in 2020, including restitution through a self-reporting program that drew industry ire.

It’s at least the second time in just a few weeks that the firm has sought to limit the expense of rewarding well-paid employees.

The private equity-backed firm’s bottom line has been less affected by coronavirus-related low interest rates than its rivals, Moody’s says.

From the fate of Veo One to account openings, here’s what Schwab’s leaders had to say.

CEO Dan Arnold cites growth in traditional channels and in recently launched models that could bring even more opportunities.

Wealthy clients are the fastest growing segment of the company’s retail division.