Practice management

Goldman’s settlement with the U.S. government comforted some Wall Street analysts who track the bank on Friday and news of the settlement spurred at least one of them to change their outlook on the company.

The trend towards younger target-date fund participants is due to the fact that new employees are more likely to be automatically enrolled in their employer’s 401(k) plan, where target-date funds are often the default option, the study said.

June hires turn positive thanks to aggressive recruiting in all positions by the industry’s largest firms.

Although the Senate finally voted Thursday to send regulatory reform to the president's desk, policy circles are already abuzz about what changes to seek in a "corrections" bill to fix problems with the legislation.

The team of four advisors generated $3 million in fees and commissions in the last 12 months and managed $558 million in client assets.

The Senate voted 60 to 39 this afternoon to approve sweeping changes to the financial regulatory system designed to address the causes of the 2008 financial crisis.

If your clients are confused on the current process, it sounds like the communication between you and them could do with some improvement too.

Barclays Wealth plans to expand in the next five years. Wednesday, it announced it hired Stefanie Drews as managing director of ultra-high-net-worth for the United Kingdom and Europe, Middle East and Africa.

The reform bill, which the Senate could pass tomorrow, would give the central bank expansive new powers, but also heaps additional responsibilities on it.

In its long-awaited concept release on the proxy “plumbing” process, the Securities and Exchange Commission on Wednesday sought public comment on making changes to the proxy voting and distribution system but fell far short of advocating any major overhaul.

Reports by EBRI and LIMRA suggest a looming retirement income crisis could still be averted in some cases by advisor intervention.

FINRA plans to significantly expand the information it provides via its free online tool, BrokerCheck, in the coming months.

Barring any unforeseen upheavals, Democrats have the assurances they need to secure the 60 votes needed for Senate passage of the Dodd-Frank bill.

As a result of stock market declines and lower interest rates, the funding status of the average U.S. corporate pension plan declined to its lowest level since February 2009.

Charles Boucher is leaving his post as chief information officer of the Securities and Exchange Commission, after 19 months.

Securities and Exchange Commission Chairman Mary Schapiro said in a speech on Friday that she personally backs a blanket fiduciary standard for advisors.

The Securities and Exchange Commission has suspended a CPA who was the former senior treasury manager and assistant treasurer at Peregrine Systems, a California enterprise management software company that was charged in 2003 with massive financial fraud.

Passing regulatory reform legislation, a grueling effort that has taken more than a year of debate, is just a warm-up for an even tougher fight over the future of Fannie Mae and Freddie Mac.

Bank of America is still the top wealth manager, followed by UBS. Morgan Stanley moved up four slots after buying the Smith Barney business from Citi, followed by Wells Fargo, Credit Suisse, JP Morgan and Royal Bank of Canada, a new entry on the list.

Rich Linton was hired as head of business retirement solutions and Steve Ulian as head of institutional retirement and benefits solutions, the Charlotte, N.C., banking company said in an internal memo Thursday.