Industry http://wealthmanagement.com/taxonomy/term/23611/more en U.S. SEC Backs Ban on Investor Settlements Erasing Complaints From Broker Records http://wealthmanagement.com/industry/us-sec-backs-ban-investor-settlements-erasing-complaints-broker-records <div class="field-byline"> Reuters </div> <div class="field-deck"> Regulator recommends FINRAconduct a "comprehensive review" of other procedures that can enable brokers and firms to erase, or "expunge," certain details </div> <div class="node-body article-body">The U.S. Securities and Exchange Commission has approved a new brokerage industry rule to ban dispute settlements between securities firms and investors that require investors to agree to erase complaints from brokers' public records.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/industry/us-sec-backs-ban-investor-settlements-erasing-complaints-broker-records" target="_blank">read more</a></p> http://wealthmanagement.com/industry/us-sec-backs-ban-investor-settlements-erasing-complaints-broker-records#comments Industry Legal Wed, 23 Jul 2014 19:41:00 +0000 611471 at http://wealthmanagement.com Copyright Alex Wong, Getty Images Merrill Rolls Out New Team Track for Trainees http://wealthmanagement.com/wirehouse/merrill-rolls-out-new-team-track-trainees <div class="node-body article-body"><p>Merrill Lynch introduced a new training program on Monday aimed at building trainees into current advisor teams.</p> <p>In letter sent out to all of our 13,845 FAs on Monday, the firm announced the Team Financial Advisor (TFA) program, a 31-month track within the existing Practice Management Development (PMD) program.</p></div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/wirehouse/merrill-rolls-out-new-team-track-trainees" target="_blank">read more</a></p> http://wealthmanagement.com/wirehouse/merrill-rolls-out-new-team-track-trainees#comments Industry Wirehouse Mon, 21 Jul 2014 19:51:00 +0000 609701 at http://wealthmanagement.com TD Grants Help Launch New Planning Degree, Advance Existing Program http://wealthmanagement.com/industry/td-grants-help-launch-new-planning-degree-advance-existing-program <div class="field-deck"> Grants awarded for new degree program at Texas A&M, new training lab at University of Georgia </div> <div class="node-body article-body">Texas A&M University will launch a new undergraduate degree in financial planning, while the University of Georgia will build out a new training lab and advisor residency program, thanks to grants awarded Monday from TD Ameritrade Institutional.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/industry/td-grants-help-launch-new-planning-degree-advance-existing-program" target="_blank">read more</a></p> http://wealthmanagement.com/industry/td-grants-help-launch-new-planning-degree-advance-existing-program#comments Industry Mon, 21 Jul 2014 19:10:00 +0000 609581 at http://wealthmanagement.com <p>Photo by <span itemscope="" itemtype="schema.org/ImageObject"><span itemprop="author">Ben Hider.</span></span></p> U.S. SEC Taps New Chief Economist From University of Florida http://wealthmanagement.com/industry/us-sec-taps-new-chief-economist-university-florida <div class="field-byline"> Reuters </div> <div class="field-deck"> Mark Flannery will also serve as the director of the SEC's Division of Economic and Risk Analysis </div> <div class="node-body article-body"> The U.S. Securities and Exchange Commission on Monday announced it has tapped a University of Florida professor to serve as the agency's new chief economist.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/industry/us-sec-taps-new-chief-economist-university-florida" target="_blank">read more</a></p> http://wealthmanagement.com/industry/us-sec-taps-new-chief-economist-university-florida#comments Industry Legal Mon, 21 Jul 2014 18:15:00 +0000 609571 at http://wealthmanagement.com <p>Mark Flannery</p> Photo courtesy University of Florida WSJ: Trading Firms Raised Early Concerns About Barclays' Dark Pool http://wealthmanagement.com/industry/wsj-trading-firms-raised-early-concerns-about-barclays-dark-pool <div class="node-body article-body">Trading firms and employees raised concerns about high-speed traders at Barclays Plc's "dark pool" months before the United States accused the bank of favoring its high-frequency trading clients, the Wall Street Journal reported, citing people familiar with the firms.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/industry/wsj-trading-firms-raised-early-concerns-about-barclays-dark-pool" target="_blank">read more</a></p> http://wealthmanagement.com/industry/wsj-trading-firms-raised-early-concerns-about-barclays-dark-pool#comments Industry Regulation & Compliance Mon, 21 Jul 2014 13:19:00 +0000 609001 at http://wealthmanagement.com Copyright Dan Kitwood, Getty Images UBS Cements Lead as Largest Private Bank, Assets Near $2 Trillion http://wealthmanagement.com/industry/ubs-cements-lead-largest-private-bank-assets-near-2-trillion <div class="field-byline"> Reuters </div> <div class="field-deck"> Zurich-based UBS displaced Bank of America in the top spot last year </div> <div class="node-body article-body">UBS cemented its lead over U.S. brokerage Bank of America Corp as the world's largest private bank and is within striking distance of managing $2 trillion on behalf of the wealthy, according to a study on Thursday.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/industry/ubs-cements-lead-largest-private-bank-assets-near-2-trillion" target="_blank">read more</a></p> http://wealthmanagement.com/industry/ubs-cements-lead-largest-private-bank-assets-near-2-trillion#comments Industry UBS Wirehouse Thu, 17 Jul 2014 13:01:00 +0000 606111 at http://wealthmanagement.com UPDATE 5-Litigation costs hit Bank of America's quarterly profit http://wealthmanagement.com/industry/update-5-litigation-costs-hit-bank-americas-quarterly-profit <div class="field-byline"> Reuters </div> <div class="field-deck"> The bank has been negotiating a multibillion dollar settlement with the Department of Justice to resolve investigations into the sale of mortgage-backed bonds </div> <div class="node-body article-body"><p>* Q2 earnings $0.19/share vs $0.32 year earlier</p> <p>* Litigation expenses $4 bln vs $471 mln a year earlier</p> <p>* Revenue from fixed income, currencies and commodities rises 5 pct</p> <p>* Shares fall 2 pct (Adds details on bond trading, negotiations with Dept of Justice, links to BREAKINGVIEWS, factbox)</p> <p>By Peter Rudegeair and Tanya Agrawal</p></div> <div class="field-stocksymbols"> <span>Stock Symbols:&nbsp;</span> BAC </div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/industry/update-5-litigation-costs-hit-bank-americas-quarterly-profit" target="_blank">read more</a></p> http://wealthmanagement.com/industry/update-5-litigation-costs-hit-bank-americas-quarterly-profit#comments Industry Wed, 16 Jul 2014 17:20:24 +0000 605381 at http://wealthmanagement.com Copyright Davis Turner, Getty Images Boston Private Scoops Up Banyan Partners in $60M Deal http://wealthmanagement.com/rias/boston-private-scoops-banyan-partners-60m-deal <div class="node-body article-body">Boston Private Bank, a subsidiary of Boston Private Financial Holdings, on Wednesday acquired Florida-based Banyan Partners in a $60 million cash and stock deal.</div> <div class="field-stocksymbols"> <span>Stock Symbols:&nbsp;</span> BPFH </div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/rias/boston-private-scoops-banyan-partners-60m-deal" target="_blank">read more</a></p> http://wealthmanagement.com/rias/boston-private-scoops-banyan-partners-60m-deal#comments Industry RIAs Wed, 16 Jul 2014 17:16:00 +0000 605751 at http://wealthmanagement.com BlackRock's Second-Quarter Profit Rises 11 Percent http://wealthmanagement.com/markets/blackrocks-second-quarter-profit-rises-11-percent <div class="field-byline"> Reuters </div> <div class="field-deck"> BlackRock ended the quarter with $4.6 trillion in assets under management, up 19 percent </div> <div class="node-body article-body">BlackRock Inc, the world's largest money manager, reported an 11 percent jump in second-quarter profit on Wednesday, boosted by strong markets that helped drive flows into its funds across asset classes and regions.</div> <div class="field-stocksymbols"> <span>Stock Symbols:&nbsp;</span> BLK </div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/markets/blackrocks-second-quarter-profit-rises-11-percent" target="_blank">read more</a></p> http://wealthmanagement.com/markets/blackrocks-second-quarter-profit-rises-11-percent#comments Industry Markets Wed, 16 Jul 2014 14:58:00 +0000 605391 at http://wealthmanagement.com Copyright Andrew Burton, Getty Images SEC's Piwowar Casts Doubt on How Money Fund Rules Will Shape Up http://wealthmanagement.com/legal/secs-piwowar-casts-doubt-how-money-fund-rules-will-shape <div class="field-byline"> Reuters </div> <div class="node-body article-body">A top official of the U.S. Securities and Exchange Commission raised doubts on Tuesday on whether his agency will adopt rules requiring prime money market funds to allow the value of their shares to float, saying deliberations are ongoing and that he opposes a key element of the plan.</div> <div class="og_rss_groups"></div><p><a href="http://wealthmanagement.com/legal/secs-piwowar-casts-doubt-how-money-fund-rules-will-shape" target="_blank">read more</a></p> http://wealthmanagement.com/legal/secs-piwowar-casts-doubt-how-money-fund-rules-will-shape#comments Industry Legal Mutual Funds Tue, 15 Jul 2014 18:52:00 +0000 604891 at http://wealthmanagement.com